Disability
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Term Life America
Disability Insurance
888.587.8511 |
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Needs
You need
enough coverage to provide you with sufficient income to live on
until you are able to return to work or receive other financial
resources retirement, social security, and so on.
Ask Yourself ... Could I still pay my bills
without
my income?
The problem is managing the cost of disability without turning your
savings into debt
when disability strikes. Uncovered
medical expenses and monthly household bills would still have to be
paid or your family's lifestyle may have to change dramatically.
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When healthy and working
we earn normal income, we save,
and have normal
expenses!
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When disabled and not working
we have decreased income,
increased expenses, and greater debt!
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The choices are these:
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Borrow money? |
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Borrowing money when your household income has dropped
substantially may be very difficult. or not a choice at all.
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Use of your savings? |
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Raiding your savings can have
disastrous
long-term consequences.
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Sell property or assets? |
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You've worked hard to establish your lifestyle. Loss of
income could force you to
sacrifice your home or other assets at
fire-sale prices
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Live on spouse's income? |
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Will your spouse's income be adequate for your family to
maintain their lifestyle?
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Purchase Disability Income Insurance? |
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Disability Income Insurance will provide
extra income so you don't have to worry about losing what
you've worked long and hard to achieve.
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Why Disability Income Insurance?
Chances of being disabled for three months or longer
before age 65
25
30
35
40
45
50
55 |
58%
54%
50%
45%
40%
33%
23% |
Source: 1985 Commissioners Individual Disability
A Table
How much disability insurance do I need?
The benefits purchased through a disability policy are quoted as
monthly income that you receive if disabled. Consider your monthly
income after taxes as the base amount you would need. If you have
other sources of income, that should be considered in the amount you
apply for. In addition to the monthly amount, an individual needs to
consider the length of time you want to collect benefits, and when
you would need them to begin. Pay attention to the premium amount
also. Don't buy more coverage than you can reasonably afford. |
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Because paying for life's expenses are
not always as certain as your responsibilities...
These top rated
Disability Insurance Companies can all but alleviate the problem!
The Purpose of Disability Insurance
Disability insurance was created to insure you for
a disabling sickness or injury, these plans will provide an individual
the ability to continue their standard of living. They are designed to
replace up to 60% of taxable income.
As you can observe above, there are a significant number of carriers
available to search out the best occupational definitions, and
occupational rating classes for your particular profession.
Q. If you are permanently disabled and cannot work, what will
Social Security
cover?
A. Social Security has a cap on the amount
of benefits you'll receive. In most cases, there will be a 5-month
waiting period before eligibility, plus another 7 months before you
even receive a benefit check. In addition, 56% of all disability
claims are rejected by Social Security.
More>
Q. If you collect disability income benefits, do you have to pay
Income Tax
on them?
A. Provided
you pay the premiums out of your own pocket on an after-tax basis,
the benefits are not taxable. However, if premiums are deducted from
your paycheck on a pre-tax basis such as in a Section 125 cafeteria
plan, benefits will be taxable. If your employer pays part of the
premiums, only the portion of the benefit that is attributable to
your own contributions will be tax-free.
More> |
Lewis Fink is licensed as
insurance agents offering these benefits in the following
states:
Alabama - AL,
Arkansas - AR,
California - CA,
Colorado - CO,
Connecticut - CT,
Delaware - DE,
District of Columbia - DC,
Florida - FL,
Georgia - GA,
Idaho - ID,
Illinois - IL,
Indiana - IN,
Iowa - IA,
Kansas - KS,
Kentucky - KY,
Louisiana - LA,
Maine - ME,
Maryland - MD,
Massachusetts - MA,
Michigan - MI,
Mississippi - MS,
Missouri - MO,
Montana - MT,
Nebraska - NE,
New Mexico - NM,
New Jersey - NJ,
New York - NY,
North Carolina - NC,
North Dakota - ND,
Ohio - OH,
Oklahoma - OK,
Pennsylvania - PA,
Rhode Island - RI,
South Carolina - SC,
South Dakota - SD,
Tennessee - TN,
Texas - TX,
Utah - UT,
Vermont - VT,
Virginia - VA,
and
Wisconsin - WI.
Note: Not all companies may offer products in all states.
Note: We do not
provide legal or tax advice. The general information presented
on various tax aspects contained in this site are not intended
to be relied upon as tax advice. Individuals should seek the
advice of a qualified tax professional regarding the taxation of
these benefits as they apply to your particular situation.
These benefits are
offered in all states except: AK, HI, WA, & WY. License #'s: CA: OC38446 MT: 29724 F00-0283-LC
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Term Life America.com
Disability Insurance
888.587.8511
9:00AM - 5:00PM
Mon. > Fri. E.T.
National Marketing
PO Box 30248
Charleston, SC 29417
Systems Administration
607 Elmira Road, Suite 149
Vacaville, CA 95687
disabilityinsurance.termlifeamerica.com
Copyright © 2005
All rights reserved
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