Many people insure their lives, home, car, boat, but not their income –Home fire – 1 out of 88...
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Transcript of Many people insure their lives, home, car, boat, but not their income –Home fire – 1 out of 88...
![Page 1: Many people insure their lives, home, car, boat, but not their income –Home fire – 1 out of 88 homes –Auto accident.](https://reader035.fdocuments.in/reader035/viewer/2022070412/56649ec45503460f94bcde75/html5/thumbnails/1.jpg)
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• Many people insure their lives, home, car, boat, but not their income– Home fire – 1 out of 88 homes– Auto accident – 1 out of 70– Death – 1 out of 106– Disability – 1 out of 8
Loss of income leads to loss of all assets
Always find out from employee any current disability insurance
Need for Disability
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Types of Businesses
Has no long or short term– Can’t afford it– 100% employee paidNo short term/has long term– 90 or 180 day eliminations– Offer 3 or 6 month optionsHas short term/no long term– Offer longer elimination– Extend their benefitsHas both short and long term– Sufficient benefit amounts– Find out if underinsured
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Disability Options
• Elimination Period– 0/7– 0/14– 7/14– 0/30– 30/30– 60/60– 90/90
• Length of benefit– 3, 6, 9, 12 or 24 months
• Amount of benefit– Up to 70% of income
• Pre Tax or After Tax• Own Occupation – Any Occupation
– Aflac only offers Own Occupation
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Aflac’s Personal Disability
Income Protector PlanPolicy benefits include:
• Benefit periods of 3, 6, 12 or 24 months.
• Elimination periods of 0/7, 0/14, 7/14, 0/30, 30/30, 60/60, 90/90 or 180/180 for Accident/Sickness.
• Disability income from $500 to $5,000 per month.
• Definition of Total Disability: “A continuing inability to perform the material and substantial duties of your full-time job” you must also be under the care and attendance of a physician for your condition.
• Pre-Existing Condition Limitation: “A sickness or an injury, for which medical advice or treatment was recommended by a physician within the 12-month period before the effective date of the coverage. Pre -existing conditions that occur more than 12 months after the effective date of coverage will be covered. Illnesses, diseases or disorders that are medically treated or diagnosed within the 30-day period after the effective date will not be covered for 12 months from the effective date of coverage.”
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Target Market
• Pregnancy– Vaginal Birth – 6 weeks– Cesarean Birth – 8 weeks
Must happen 10 months after purchase of policy