Disability

Question 1

What are the 3 sources of DI Benefits?

Answer 1

Government, Employers, and Individuals

Question 2

What are the 2 Government DI Programs?

Answer 2

Workers Comp and SSDI

Question 3

How do Employers help with DI Benefits?

Answer 3

Sick Leave, STDI and LTDI

Question 4

Why shouldn’t clients rely on government DI Coverage?

Answer 4

SSDI is Strict.
SSDI will not be adequate income replacement.
SSDI has a 5 month waiting period.
Workers Comp only Protects those injured at Work.

Question 5

What 2 items does DI Cover?

Answer 5

Sickness or Accident

Question 6

What is the general DI Coverage recommended?

Answer 6

60-70% Income Replacement

Question 7

What are the term lengths of STDI?

Answer 7

0-2 Years
6m Is Common

Question 8

What are the term lengths of LTDI?

Answer 8

Beyond 2 Years;
Can last 5 years, until age 65 or retirement, or for life.

Question 9

Describe “Own Occupation” DI Benefits

Answer 9

Considered Disabled if they cannot perform the duties of their “Own Occupation;
Most expensive; Ideal for High Paying Fields

Question 10

Describe “Any Occupation” DI Benefits

Answer 10

Considered Disabled if they cannot perform the duties of “Any Occupation” for which they are educated, experienced, or trained.
Less Expensive

Question 11

“Split Definition” of DI Benefits

Answer 11

Own Occupation for a fixed period, than Any Occupation

Question 12

What is the key phrase for SSDI eligibility?

Answer 12

Cannot perform ANY SUBSTAINTIAL GAINFUL ACTIVITY

Question 13

What is Presumptive Total Disability Coverage?

Answer 13

Automatically considers certain conditions to be totally disabling:
Loss of sight, hearing in both ears, the use of both feet, the use of both hands, and the use of one hand and one foot

Question 14

Describe Partial DI benefits

Answer 14

% of lost income is the % of DI benefits you are entitled to; ie - 70% reduction in income = 70% of Disability benefit paid out.
Note - not 70% of original income!