Product Information
While Life Insurance is probably the cornerstone of any insurance package, Disability Insurance is arguably just as important, especially Long Term Disability insurance. You can provide clients with a greater degree of protection and security through Morstan’s Disability Insurance offerings. Realistically, no working age individual should be without Disability coverage. In fact, at any given time, one has a greater chance of becoming disabled than of dying. Disability Plans provide income replacement and benefits continuation if one is unable to work for a period of time; this means that your clients and their families can maintain their standard of living.
When choosing a Long-Term Disability policy, you and your clients should consider the following:
Elimination Period: The length of time between a claim being filed and payment being made. Typically, the longer the period between filing and payment, the lower the cost of the policy.
- Monthly Benefit: The amount that is paid per month during the benefit period.
- Benefit Period: This is the amount of time that the Carrier will pay for a claim. The longer the period, the more expensive the policy.
- Partial Disability: If you are partially disabled and the ability to perform your job is impaired, it is important to consider protection to supplement lost income in case you cannot return to work on a full-time basis. Some insurance companies offer an Extended Partial Disability rider, allowing you to receive benefits while returning to work on a limited basis (based on an income loss of at least 20 percent).
Make sure that your clients never have to say, “What if…?” or, “If only…?” Offer them Disability Insurance.
