Posts Tagged ‘individual disability insurance’
Thursday, January 12th, 2012
Set for Life Insurance offers disability insurance discounts for physicians, medical residents, CRNAs, nurses and all other employees of University of Chicago Medical Schoool.
Hospitals affiliated with University of Chicago are also eligible for discounts. These affiliates include:
- · Bernard A. Mitchell Hospital
- · Comer Children’s Hospital at the University of Chicago
- · Chicago Lying-in Hospital
- · Duchossois Center for Advanced Medicine
- · University of Chicago Pritzker School of Medicine
The discounts provide unisex rates as well as an employer sponsored discount. For women, the discounts are approximately 55% off the identical, non-discounted policy. For men, the discount translates to 20% off the non-discounted policy.
Policy provisions include:
- · Own occupation definition of disability covering you if you can’t work in your medical specialty.
- · Permanent discounts that apply to future increases.
- · Premiums are guaranteed to age 65.
- · A+ Rated company.
- · No exclusions or limitations.
- · Ability to increase the policy to $15,000/month benefit without further medical underwriting.
For more information about disability insurance discounts at University of Chicago Medical School, or to request a personalized quote comparison, please contact the Set for Life office today!
Tags: CRNA disability insurance, disability insurance, disability insurance discounts, disability quotes, individual disability insurance, medical resident disability insurance, own occupation disability insurance, physician disabiliyt insurance, set for life insurance, unisex disability insurance, university of chicago medical school
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Friday, December 16th, 2011
A disability can happen to anyone…at any time.
- In the last 10 minutes, 490 Americans became disabled.
- National Safety Council®, Injury Facts® 2010 Ed.
- In 2008, there were 2.1 million disabling injuries caused by a motor vehicle accident; there were 39,000 fatal motor vehicle accidents.
- National Safety Council®, Injury Facts® 2010 Ed.
- In the U.S., a disabling injury occurs every 1 second, a fatal injury occurs every 4 minutes.
- National Safety Council®, Injury Facts® 2010 Ed.
- In the home a fatal injury occurs every 12 minutes and a disabling injury every 3 seconds.
- National Safety Council®, Injury Facts® 2008 Ed.
- There is a death caused by a motor vehicle crash every 12 minutes; there is a disabling injury every 13 seconds.
- National Safety Council®, Injury Facts® 2008 Ed.
- The probability of a white-collar worker becoming disabled for 90 days or longer between the ages of 35 and 65 is 27% for men and 31% for women.
- Millman, sponsored by Life and Health Insurance Foundation for Education (LIFE), “The Real Risk of Disability in the United States”, 2007 (http://www.lifehappens.org/pdf/Real-Risk-of-Disability-paper-FINAL.pdf)
- 43% of all people age 40 will have a long-term disability event prior to age 65.
- JHA Disability Fact Book, 2008
- 51.2 million Americans have some level of disability. They represent 18% of the population.
- U.S. Census Bureau, July, 2006
- The number of disabled workers in America has risen by 35% since 2000.
- Social Security Administration, 2007
- Almost 3 in 10 workers entering the workforce today will become disabled before retirement.
- Social Security Administration, Fact Sheet, January 31, 2007
- In 2007, the employment rate of working-age people with disabilities in the U.S. was 36.9%.
- U.S. Census Bureau, American Community Survey, 2007
- A new Harvard University report reveals that 62 percent of all personal bankruptcies filed in the U.S. in 2007 were due to an inability to pay for medical expenses.
- June 4, 2009. The American Journal of Medicine
- Unfortunately, most Americans have little understanding of the likelihood of experiencing a disability. A recent CDA survey of workers found:
- 90 percent underestimate their own chances of becoming disabled.
- 85 percent express little or no concern that they might suffer a disability lasting three months or longer.
- 56 percent do not realize that the chances of becoming disabled have risen over the past five years.
- Council for Disability Awareness, 2007 Disability Awareness Survey
For more information about disability insurance or to request a disability insurance quote comparison, contact Set for Life Insurance.
Tags: disability insurance, disability insurance quote, individual disability insurance, need disability insurance, set for life insurnce
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Monday, December 12th, 2011
- 49% of workers would have difficulty supporting themselves within one month of becoming disabled.
- The Disability Survey conducted by Kelton Research on behalf of the LIFE Foundation, April 2009
- One work-related disabling injury costs an employer on average $48,000.
- National Safety Council®, Injury Facts® 2010 Ed.
- Off-the-job injuries to workers cost the nation at least $253.3 billion and 225 million days of production time in 2008.
- National Safety Council®, Injury Facts® 2010 Ed.
- The average disability absence results in payments of $3,800, while lost productivity costs on average over $22,800.
- Integrated Benefits Institute, IBI News September 8th, 2006
- Employers spend 4.1% of payroll on unscheduled absences.
- Marsh/Mercer Health & Benefits, “Health, Productivity and Absence Management Programs”, 2006 Survey report
- In 2006, unscheduled absence cost some large employers an estimated $850,000 per year in direct payroll.
- CCH and Harris Interactive, “2006 CCH Unscheduled Absence Survey,” October 2006
- Disabling injuries and illnesses account for 55% of employee absences.
- JHA 2005 Absence Management Survey, “Big-picture benefits: Integrating FMLA and disability claims data helps reduce absenteeism,” by Chris Silva, September 2006
- Just 10% of disability cases account for more than half the total medical and disability costs.
- Integrated Benefits Institute, IBI News September 8th, 2008
For more information about the cost of a disability or to request a disability insurance quote comparison, contact Set for Life Insurance.
Tags: contact set for life insurance, disability insurance, disability insurance cost, disability insurance quote, individual disability insurance
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Sunday, December 11th, 2011
- At its current state, the Social Security Disability Insurance Trust Fund is projected to exhaust by 2018.
- “A Summary of the 2011 Annual Reports.” The US Social Security Administration. 2011. Web. http://www.socialsecurity.gov/oact/trsum/index.html.
- Nearly three-fourths of disabling injuries in 2008 are not work related, and therefore not covered by workers’ compensation.
- National Safety Council®, Injury Facts® 2010 Ed.
- More than 95% of long-term disability claims were not work-related in 2010.
- 2011 Long-Term Disability Claims Review, Council for Disability Awareness
- Less than half – 35.9% – of the workers who applied for Social Security Disability Insurance (SSDI) benefits in 2010 were approved.
- 2011 Long-Term Disability Claims Review, Council for Disability Awareness
- 40.2% of disabled men and 63.9% of disabled women in 2010 received SSDI benefits of less than $1,000 per month; only 3.9% of disabled workers received $2,000 or more in SSDI monthly benefits.
- 2011 Long-Term Disability Claims Review, Council for Disability Awareness
- The average monthly SSDI benefit is $1,064.
- Social Security Administration, Monthly Statistical Snapshot, December 2009, ssa.gov
- Comparison of Social Security disability insurance applications to the amount approved:
In 2007, the percentage of working-age people with disabilities receiving SSDI payments in the US was 17.1%.
- U.S. Census Bureau, American Community Survey, 2007
- Over 6.8 million workers are receiving SSDI benefits, almost half are under age 50. This represents only 13% of the over 51 million Americans classified as disabled.
- Social Security Administration, Fact Sheet 2007
- The disabled worker population continues to steadily grow: The number of disable workers receiving SSDI claim payments increased by 5.3% from year end 2009 to year end 2010, continuing to outpace growth in the overall covered worker population.
- 2011 Long-Term Disability Claims Review, Council for Disability Awareness
- Over 2.5 million workers in their 20s, 30s and 40s were receiving SSDI payments at the end of 2010; this constitutes over 30% of all workers receiving SSDI payments.
- Long-Term Disability Claims Review, Council for Disability Awareness
For more information about disability insurance or to request a personalized quote comparison, contact Set for Life Insurance today!
Tags: contact set for life insurance, disability insurance, disability insurance misconceptions, individual disability insurance, supplemental disability
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Saturday, December 10th, 2011
- Workers’ rankings of the most valuable activities to achieve long-term financial security:
- 40% of employees indicated protecting financial assets due to an unexpected event as a main concern.
- The Principal Financial Well-Being IndexSM, First Quarter 2009
- 68% of employees surveyed said good employee benefits encourage them to work harder and perform better; 61% said good benefits keep them working for their current employer.
- The Principal Financial Well-Being IndexSM, 2010
- Fewer than one in three (29%) U.S. workers have private long-term disability coverage
- National Compensation Survey, Bureau of Labor Statistics, 2006
- 33% of workers have access to long-term disability insurance through their jobs.
- Employee Benefits Survey, The Bureau of Labor statistics, March 2009
- Only 30% of American workers in private industry currently have access to employer-sponsored long-term disability insurance coverage.
- National Compensation Survey: Employee Benefits in Private Industry in the United States, U.S. Department of Labor, Bureau of Labor Statistics, March 2006.
- The odds of selling a product to a new customer are 15 percent, while the odds of selling to an existing customer are 50 percent.
- Raymond Adamson, Cross-Sell to Success, Advisor Today, March 2005
- The top reason producers are not selling IDI is because their clients do not ask about the product.
- LIMRA International, “Producer Perspectives on Individual Disability Insurance”, 2009
- Despite the fact that more than 70% of American households rely on two incomes to make ends meet, only 26% of Americans have any type of disability insurance.
- Facts from LIMRA May 2010 Multimedia Fact Sheet, based on findings from LIMRA’s life insurance consumer studies.
- Only 18% of consumers recall being approached about buying disability insurance – less than half as many as those being approached for life insurance.
- Facts from LIMRA May 2010 Multimedia Fact Sheet, based on findings from LIMRA’s life insurance consumer studies.
- Only 13% of small business owners have disability income insurance.
- Facts from LIMRA May 2010 Multimedia Fact Sheet, based on findings from LIMRA’s life insurance consumer studies.
- Who buys disability insurance? While men represent the majority of new sales, sales to females grew at a slightly faster rate than sales to males in 2008.
Older age groups bought more policies in 2008, with an increase in both the 50-59 and 60+ age groups.
- Facts from LIMRA May 2010 Multimedia Fact Sheet, based on findings from LIMRA’s life insurance consumer studies.
Please contact Set for Life Insurance for more information about individual disability insurance and to request a personalized quote comparison
Tags: contact set for life, disability insurance, disability insurance quotes, individual disability insurance, need disability insurance, set for life insurance
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