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Long-term Disability Insurance
Fact: you need to earn income to survive!
Question: What happens if you are unable to
earn income?
Long-term disability (LTD) insurance provides
benefits to partially replace list earnings when an employee
can’t perform the material duties of his/her own occupation
because of an occupational or non-occupational injury or illness.
The benefit amount is normally expressed as a percentage of
salary and includes a maximum dollar amount of benefit.
Remember these facts:
- 1 out of 7 employees will suffer a
disability that will last 5 years or longer.
(Source: Commissioner disability table)
- The chances of becoming seriously insured and disabled
at age 32 are 5 and a half times greater than death.
- Do you need more reasons you
should consider purchasing long term disability for your
employs?
If you are the primary wage earner for yourself and your
household, imagine for a minute what life would be like if
that income were no longer there. Did you know:
- Between the ages of 35 and 65, seven out of 10 people
will become disabled for 3 months or longer?
- Average long-term loss due to disability is over 5 years?
- Average American household only has two months worth of
savings in reserve?
- Workers compensation coverage only covers injuries that
occur on the job?
Definition: Long Term Disability –
Typical benefit is to age 65 and has a 90-day elimination
period. Generally, The definition of disabled changes from
“own occupation” during the first two years to
“any occupation” after two years of benefits.
“Any Occupation” after two years of benefits.
“Any Occupation” refers to one that is appropriate
to ones education, training or experience.
Don't wait until one of your employees is
hurt before you look into providing LTD coverage.
As a CBIA Health Connections or CBIA/Aetna participant,
you and your employees have access to a full range of life
and disability programs. Through our partnership with The
Hartford, we are able to provide our Health Connections' customers
more competitive pricing, compensation options and flexibility
for you and your employees.
Our CBIA/Aetna customers also have access to
a comprehensive program that offers numerous options and levels
of coverage.
For more information on LTD insurance or any of our other
ancillary lines of coverage contact your broker or CBIA at
860-244-1900.
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