December 2, 2016
Nov 28, 2016 | By Richard M. Weber, M.B.A., CLU, AEP
When DI is combined with appropriate life insurance, a “double-duty” synergy is achieved, resulting in complete protection for the portion of human life value for which insurance exists.
A typical affluent family owns a variety of assets, including real estate, cars, retirement accounts, investments, cash and life insurance. But some assets may be vulnerable to possible loss, through economic downturns, mismanagement or natural disaster.
Fortunately, some of those losses can be offset by transferring the risk of loss to an insurance company. Still, there are other risks, such as job loss or experiencing a business failure, which cannot be so readily transferred.
November 30, 2015
By Lisa Rein
When The Post dug into the backlog for disability benefits at the Social Security Administration a year ago, it discovered that the line was approaching one million applications long. The number of people in this queue was so large that it exceeded the population of six different states.
Since then, the line has only gotten longer, according to a new report by the agency’s watchdog.
The average time to process the claims — which have now reached the one million mark — is up to 450 days, Inspector General Patrick O’Carroll Jr. wrote in late September, calling the number of pending cases the largest in Social Security’s history.
September 2, 2015
BY: MICHAEL SMITH
When couples divorce, frequently the court will order that life insurance be taken out on the party who is required to pay child support and spousal maintenance or alimony. This protects the party who is receiving the financial support, and assures that the support continues if the ex-spouse dies.
But what if the party who is paying the support becomes disabled? Until now, there hasn’t been a way to ensure that divorce settlement and child support payments continue if the person making those payments — the payor — becomes totally disabled.
May 11, 2015
May 07, 2015 | By Lynette Gil
It is Disability Insurance Awareness Month and the video below from Guardian got me thinking: Why is it that we always think that nothing will happen to us? That, maybe, we’ll be here, in this same physical condition and state, until we’re 90 years old?
The video says that when people hear the word “disability,” they associate the term as something that you are born with, rather than a life event that will impact your ability to work.
And it continues, “Disabilities are often caused by illness or injury at any age. One in four workers entering the workplace will be disabled before they retire,” Guardian’s video states.
Those are scary numbers. They’re meant to make viewers stop what they’re doing and think: Am I covered in case of an accident? And while I don’t believe myself to be an alarmist, it only took two seconds to remember a few stories from friends who have been partially “disabled” due to unexpected accidents. (So I guess the video worked.)
Full Article and Video
April 28, 2015
Life Happens Program Information – DIAM Resources
Life Happens provides a wealth of resources for you and your producers, all free to you as a NAILBA member agency. See below for new videos, DIAM resources, Real Life Stories Client Recognition Program applications, the Insurance Barometer Study, and an update to the Life Insurance Needs Calculator.
A whole new suite of resources for Disability Insurance Awareness Month is available now; DIAM is in May each year, and now is a great time to be planning your campaign!
April 23, 2015
Apr 20, 2015 | By Steven Johnson
One of the most-watched shows on the popular Discovery Channel is “Mythbusters,” a science entertainment program. The hosts, Jamie Hyneman and Adam Savage, use elements of the scientific method to test the validity of various rumors, myths, adages, news stories and Internet videos. The hosts use elaborate planning, design and construction to evaluate myths as “busted,” “plausible” or “confirmed.”
When it comes to disability insurance, I sometimes feel like a mythbuster myself. That’s because there’s still a lack of understanding about disability among consumers and employers — and a lot of myth-busting that needs to take place. A 2014 report by the Council for Disability Awareness reveals some of the eye-opening beliefs shared by employees and human resources professionals about disability. These findings open up a tremendous opportunity for brokers and insurance professionals to help educate their clients about the realities of disability and how they can better protect themselves and their families.