BeamaLife Blog

I want to share with you these eye popping disability trends. The Council for Disability Awareness (CDA) conducts an annual review of long-term disability claims among the U.S. working population to determine continuing or emerging trends. The 2007 CDA Long-Term Disability Claims Review includes long-term disability insurance claims data from member companies and Social Security [...]

First, how much disability insurance do you have through your employer, and what other financial resources do you have? Other resources might include your savings, property or assets you could sell, borrowed money, or your spouse’s income. Now ask yourself if the combination of your employer-sponsored disability insurance and your other resources will be enough [...]

If you become disabled and your life insurance policy contains a waiver-of-premium benefit, you will not have to pay the life insurance premiums as long as you are disabled. However, the disability must be total and must last for at least six months. Certain exclusions also apply.
Some life insurance contracts automatically provide the waiver-of-premium benefit. [...]

Yes. If you have long-term disability coverage through a group plan offered by your employer, your premium will be the same as the premium of everyone else who participates in that plan. But, the premiums for everyone will depend on the general risks of the industry in which the employees work. If you’re buying an [...]

1. American consumers spend more money on average in 2 months than all the consumers in China and India spend in a year (source: Time Magazine). 2/04/08 issue, bullet # 14
2. 54% of American investors do not read financial literature (e.g., newspaper or magazine articles) because they believe the content is “too hard to understand” (source: AARP). [...]

• Workers today are 3 times more likely to suffer a long-term disability than die during their working years.
•  The average monthly Social Security Disability Income (SSDI) payment is $938, replacing on average, about 33% of current income.
• 32% of individuals receiving long-term disability insurance benefits do not qualify for SSDI benefits; 95% are not eligible for [...]