Product Overview > Individual Plans > Disability
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If you would like to create a proposal for your client, many carrier pricing systems can be accessed by clicking here
If you would like to get enrollment forms for your client, many carrier enrollment forms can be accessed by clicking here
Disability Insurance is important because most employed people do not have enough cash on hand or in personal savings to maintain current lifestyle during prolonged period of inability to work due to illness/injury.
Disability Insurance pays cash to partially replace lost income when an employed person gets sick or hurt and is unable to perform his/her normal job duties.
Most closely held businesses do not have sufficient resources to continue to pay expenses to maintain operations if a key employee, owner or partner is unable to continue to actively contribute.
Some employer's offer a basic group disability insurance program; however, group disability insurance coverage is not always portable. Portability of insurance is important because if the employer-employee relationship is severed the group coverage will be stopped. An individual disability insurance policy is portable — the coverage can remain unchanged from employer-to-employer.
Individual Disability Insurance is customized and dependent on personal factors. Pricing is based on your client's gender, lifestyle, family history, tobacco use, occupation and description of daily work activities, credit and driving records. Your client's income influences the amount of monthly cash available from the policy. Questions will also be asked about any other disability insurance protection your client has purchased previously.
It may be harder to qualify for disability insurance compared to life insurance since there is a greater chance to get sick or hurt and be unable to work as your client did before then to die from the same sickness or injury.
If your client owns an individual disability insurance policy and an employer does not pay the premiums, then the cash benefits ARE NOT taxable.
If your client participates in a group disability insurance policy or an employer pays the premiums, then the cash benefits ARE taxable.
The application and plan selection process may seem involved with many available options to choose from. Review the proposed individual disability insurance policies to identify the ones with the strongest of these primary characteristics:
- Definition of disability
- Monthly benefit amount
- Elimination period
- Duration of benefits
Contact your Kistler Tiffany Benefits representative to protect your client's most important asset — his/her ability to earn an income.
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