Individual Disability Insurance| When You Lose the Group

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As health insurance rates are on the rise, a lot of employees are losing other group insurance benefits, including disability insurance. What happens when you lose your group disability insurance benefits? Most people who are still in need of protecting their income need to go out and purchase their own individual disability insurance. If you have a serious health condition, …

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Why singles need disability insurance more than their non-single friends.

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Single professionals may need individual disability insurance perhaps more than their non-single friends. Why? Because single people are solely dependent on their income. As such, it is even more important to protect that income. Here are some tips for singles when it comes to purchasing a disability insurance policy: 1)      Determine need. Calculate your monthly fixed expenses to determine how …

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Disability Insurance Bonus Income

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Disability Insurance: Bonus Income Income and participation limits for disability insurance are based on your income. For group insurance policies, this income typically relates to your base salary and does not cover any bonus income. As such, group insurance policies may cover significantly less than you had anticipated. For example, I was working with a client of mine this week …

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Disability Insurance: How Much is Enough?

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When purchasing an individual disability insurance policy, eligibility is based on the income and participation limits with the company. This means they will look at the following: 1)      Income. If you are a business owner, this is your adjustable gross income (income minus business expenses). If you are employee, this is your salary before taxes. 2)      Group disability insurance benefits …

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Disability Insurance: Employers Shifting Costs to Employees

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By Michelle Andrews, Washington Post, Published: September 19, 2012 Disability insurance is one of those under-the-radar benefits you may take for granted, especially if your employer picks up the tab for the coverage, as many firms do. Because of that, as annual benefit enrollment time approaches you probably aren’t worried about examining your disability coverage details and costs the way …

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