<div style="color:black;font: 12pt Arial, Helvetica, sans-serif;">Happy Friday Gotham Tribe!
<div>If you had a machine in your basement that printed money, wouldn't it make sense to take good care of it, make sure it is well-oiled and insure it? That money-making machine is you, see below!</div>
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<div class="MsoNormal" style="text-indent:.5in"><b><span style="font-size:24.0pt;line-height:107%">Disability Insurance, Rolling the Dice<o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-indent:.5in"><span style="font-size:14.0pt;line-height:107%">I just returned from an extended Las Vegas Super Bowl Weekend
and was thinking about what to write this week while on the plane back to JFK
airport. <b>In many ways, insurance is
gambling! <o:p></o:p></b></span></div>
<div class="MsoNormal" style="text-indent:.5in"><span style="font-size:14.0pt;line-height:107%">There is a high probability of a disability occurrence
happening, such as someone becoming disabled either mentally or
physically. As an Independent Insurance Advisor,
also known as a \u201cField Underwriter,\u201d my job is to ask questions then listen. This is why we have 2 ears and 1 mouth as we
are supposed to listen twice as much as we speak. <b>Nearly 50% of ALL individuals ages 34 or
younger will be disabled for 90 days or longer prior to age 65.</b> <o:p></o:p></span></div>
<div class="MsoNormal" style="text-indent:.5in"><span style="font-size:14.0pt;line-height:107%">As per the Commissioners Individual Disability Tables,
CSO/Society of Actuaries, see the chart below:<o:p></o:p></span></div>
<div class="MsoNormal" style="text-indent:.5in"><span style="font-size:14.0pt;line-height:107%">Age Odds of
Long-Term Disability Average
disability length<o:p></o:p></span></div>
<div class="MsoNormal" style="text-indent:.5in"><span style="font-size:14.0pt;line-height:107%">30 51% 4.7
years<o:p></o:p></span></div>
<div class="MsoNormal" style="text-indent:.5in"><span style="font-size:14.0pt;line-height:107%">35 48% 5.1
years<o:p></o:p></span></div>
<div class="MsoNormal" style="text-indent:.5in"><span style="font-size:14.0pt;line-height:107%">45 40% 5.8
years<o:p></o:p></span></div>
<div class="MsoNormal" style="text-indent:.5in"><span style="font-size:14.0pt;line-height:107%">50 34% 6.2
year <o:p></o:p></span></div>
<div class="MsoNormal" style="text-indent:.5in"><span style="font-size:14.0pt;line-height:107%"> </span></div>
<div class="MsoNormal" style="text-indent:.5in"><b><span style="font-size:14.0pt;line-height:107%">There are generally 2 types of disability income insurance:<o:p></o:p></span></b></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left:.75in;mso-add-space:auto;text-indent:-.25in;mso-list:l1 level1 lfo1"><!--[if !supportLists]--><b><span style="font-size:14.0pt;line-height:107%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">1.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: "Times New Roman";"> </span></span></b><!--[endif]--><b><span style="font-size:14.0pt;line-height:107%">Group Disability Income Insurance: </span></b><span style="font-size:14.0pt;line-height:107%">Group disability insurance is usually
offered by an employer at no cost or for a nominal fee taken out monthly directly
from your paycheck.<b><o:p></o:p></b></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-left:.75in;mso-add-space:auto;text-indent:-.25in;mso-list:l1 level1 lfo1"><!--[if !supportLists]--><b><span style="font-size:14.0pt;line-height:107%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">2.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: "Times New Roman";"> </span></span></b><!--[endif]--><b><span style="font-size:14.0pt;line-height:107%">Individual Disability Income
Insurance: </span></b><span style="font-size:14.0pt;line-height:107%">Individual
disability income insurance (DI) is usually purchased from an agent or broker, similar
to life insurance. <b>There are
significant advantages to doing business with an independent insurance broker!<o:p></o:p></b></span></div>
<div class="MsoNormal"><b><span style="font-size:14.0pt;line-height:107%"> </span></b></div>
<div class="MsoNormal"><b><span style="font-size:14.0pt;line-height:107%"> </span></b></div>
<div class="MsoNormal"><b><span style="font-size:14.0pt;line-height:107%">Advantages
of Group Disability Insurance: <o:p></o:p></span></b></div>
<div class="MsoListParagraphCxSpFirst" style="text-indent:-.25in;mso-list:l3 level1 lfo2"><!--[if !supportLists]--><span style="font-size:14.0pt;line-height:107%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">1.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: "Times New Roman";"> </span></span><!--[endif]--><span style="font-size:14.0pt;line-height:107%">Premiums are Affordable<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="text-indent:-.25in;mso-list:l3 level1 lfo2"><!--[if !supportLists]--><span style="font-size:14.0pt;line-height:107%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">2.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: "Times New Roman";"> </span></span><!--[endif]--><span style="font-size:14.0pt;line-height:107%">Some policies are portable meaning
you can keep it if/when you leave the company<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="text-indent:-.25in;mso-list:l3 level1 lfo2"><!--[if !supportLists]--><span style="font-size:14.0pt;line-height:107%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">3.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: "Times New Roman";"> </span></span><!--[endif]--><span style="font-size:14.0pt;line-height:107%">The Business Owner can protect key
personnel in the event of disability<o:p></o:p></span></div>
<div class="MsoNormal"><b><span style="font-size:14.0pt;line-height:107%">Disadvantages
of Group Disability Insurance:<o:p></o:p></span></b></div>
<div class="MsoListParagraphCxSpFirst" style="text-indent:-.25in;mso-list:l2 level1 lfo3"><!--[if !supportLists]--><span style="font-size:14.0pt;line-height:107%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">1.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: "Times New Roman";"> </span></span><!--[endif]--><span style="font-size:14.0pt;line-height:107%">Most policies have a monthly
disability income \u201cBENEFIT CAP\u201d which is far less than the employee would need
to provide for one\u2019s family<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="text-indent:-.25in;mso-list:l2 level1 lfo3"><!--[if !supportLists]--><span style="font-size:14.0pt;line-height:107%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">2.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: "Times New Roman";"> </span></span><!--[endif]--><span style="font-size:14.0pt;line-height:107%">Few policies have an \u201cOwn Occupation\u201d
definition of disability, meaning it is much harder to trigger a claim versus
individual policies.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-indent:.5in"><span style="font-size:14.0pt;line-height:107%"> </span></div>
<div class="MsoNormal" style="text-indent:.5in"><b><span style="font-size:14.0pt;line-height:107%">Our first task is to assess the risk probability based on the
clients\u2019 age, medical history, income level, occupation, amount of coverage and
details of the policy. We come up with a
monthly income need (usually between 40%-65% of income) then shop the policy to
different insurance companies. We then
present between 1-3 company options to the client for review. An Agent can ONLY present 1 company option! My job is to find a comfortable premium to
transfer the majority of the disability risk to the insurance company.<o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-indent:.5in"><span style="font-size:14.0pt;line-height:107%">Regardless of a person\u2019s age, the ability to earn an income
is usually their most valuable resource.
Disability income insurance is the one type of insurance that workers
cannot do without! If this is the case,
why do less than 50% of adult Americans own a personal disability income
insurance policy? The answer is based on
cost, as a typical individual disability income policy will cost between 2%-4%
of a person\u2019s salary, depending mostly on age.
This is why it makes sense to apply for an individual disability income
policy as young as possible.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-indent:.5in"><span style="font-size:14.0pt;line-height:107%">Accidents are what most people think are the main cause for
disability. This is incorrect!
Depression and back pain are the most likely to trigger a disability
claim. This has been exacerbated by
Covid-19. Disabilities can be triggered
mentally or physically. As an example, my
friend is on disability from post-traumatic stress disorder (PTSD) from
Hurricane Sandy. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-indent:.5in"><b><span style="font-size:14.0pt;line-height:107%">It is critical to consider how your bills would be paid in
the event of a disability lasting more than 3 months. Workers should consider how long they would be
able to cover their expenses. Couples
should also consider whether they can survive on one partner\u2019s paycheck if the
other were to become ill or injured. In
most cases, an individual private disability income policy is the best way to handle
this risk!<o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-indent:.5in"><span style="font-size:14.0pt;line-height:107%">My top 3 Tips to consider when buying an individual
disability income insurance policy to protect you and your family: <b><o:p></o:p></b></span></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left:.75in;mso-add-space:auto;text-indent:-.25in;mso-list:l0 level1 lfo4"><!--[if !supportLists]--><b><span style="font-size:14.0pt;line-height:107%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">1.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: "Times New Roman";"> </span></span></b><!--[endif]--><b><span style="font-size:14.0pt;line-height:107%">Get Disability Insurance Quotes from
an Independent Broker: </span></b><span style="font-size:14.0pt;line-height:107%">An independent insurance broker has a
macro view of the marketplace and multiple insurance companies to shop rates
and benefits for you. For example, we
have one insurance company that will cover a disability due to a botched
elective plastic surgery procedure. <b><o:p></o:p></b></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left:.75in;mso-add-space:auto;text-indent:-.25in;mso-list:l0 level1 lfo4"><!--[if !supportLists]--><b><span style="font-size:14.0pt;line-height:107%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">2.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: "Times New Roman";"> </span></span></b><!--[endif]--><b><span style="font-size:14.0pt;line-height:107%">Buy the \u201cOwn Occupation\u201d definition
of disability:</span></b><span style="font-size:14.0pt;line-height:107%"> Not
all companies have this definition and some charge extra for it as a
rider. For example, a right-handed
surgeon gets his or her right hand mangled when closing the car door. With an \u201cOwn Occupation\u201d policy, said surgeon
goes on claim and can collect benefits and still work supervising others. A policy without \u201cOwn Occupation\u201d would have
an \u201cany occupation in their field\u201d definition and would NOT be on claim in the
previous example.<b><o:p></o:p></b></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-left:.75in;mso-add-space:auto;text-indent:-.25in;mso-list:l0 level1 lfo4"><!--[if !supportLists]--><b><span style="font-size:14.0pt;line-height:107%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">3.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: "Times New Roman";"> </span></span></b><!--[endif]--><b><span style="font-size:14.0pt;line-height:107%">Do NOT Take a Tax Deduction for insurance
premiums paid:</span></b><span style="font-size:14.0pt;line-height:107%"> This
is where your CPA can make a big mistake getting \u201cgreedy\u201d for deductions<b>. If you pay your premiums with \u201cafter tax\u201d
dollars, 100% of your monthly benefits are TAX FREE! If you take the small annual premium tax
deduction, 100% of your monthly benefits are taxable!<o:p></o:p></b></span></div>
<div class="MsoNormal" style="text-indent:.5in"><span style="font-size:14.0pt;line-height:107%">Are you confused?
These are critical individual and family planning decisions that should
not be taken lightly. For a better
understanding of these policies and rates, feel free to reach out to me at
Rob@InsuranceDoctor.us.<o:p></o:p></span></div>
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<div style="color:black;font:12pt Arial, Helvetica, sans-serif;">Robert C. Intelisano, The Insurance Doctor
<div>111-14 76th Ave., Suite 207</div>
<div>Forest Hills, N.Y. 11375 917-359-3985</div>
<div>www.InsuranceDoctor.us</div>
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