Disability insurance is lacking among most NFL players

football players and disability insurance premiums

The majority of these athletes don’t purchase these policies, despite the risks they face. According to data released by underwriters, the vast majority of players for the National Football League (NFL), don’t actually purchase disability insurance, even though they run a considerable risk of sustaining an injury at some point throughout their career in professional football. While some players don’t want to have to pay for the coverage, others won’t buy for other reasons. The fact does remain that there are many players who don’t want to actually have to…

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Liberty Mutual announces new disability insurance benefits to assist mid-sized businesses

Liberty Mutual Insurance has unveiled its new Benefits Select product line in an effort to better serve mid-sized businesses and the employee benefits consultants and brokers who work with them. The Benefits Select group disability product suite is designed to be a cost-effective way for these employers to be able to offer more attractive passengers to current and potential employees so that they will experience better retention while still keeping an eye on the bottom line. According to the chief operating officer at the group benefits unit of Liberty Mutual…

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The importance of understanding and obtaining disability insurance

Disability insurance is one of the most important decisions that you can make to help to protect your financial future and financial advisors, not just insurance agents, are recommending these products to their clients for just that reason. That said, the decision to obtain the insurance and the choice of insurer to provide it is up to you. There are many different issues to consider, from monthly premiums to the type of coverage that is provided. That said, you shouldn’t let a little bit of homework stop you from purchasing…

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The search for disability insurance

Group disability insurance is a form of protection for a group of people who are connected in some way – such as through an organization such as a trade association or employer – and covers the individuals from the losses to which they are exposed in the case of illness or an injury from an accident. Group disability insurance is typically less expensive than a policy purchased by an individual, though it should be noted that the benefits are limited to a maximum monthly income and a certain length of…

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Disability insurance becomes more complex and expensive

Employee disability benefits, as is the case with virtually every other kind of workplace benefit, has become an expense that workers are beginning to need to pay for and manage – at least to some degree – themselves. Now that the 2012 open enrollment season has begun, an increasing number of employers are requesting that workers take on some of the financial burden for some of the more high-end forms of disability protection. Mercer benefits consultant partner, Rich Fuerstenberg, said that he has been witnessing a gradual trend toward workers…

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Insurance changes to New Jersey’s disability insurance pool make coverage more affordable

New Jersey’s disability insurance fund will see some changes in the coming months, according to Governor Chris Christie. This week, the Governor announced that state employees can expect to see lower premiums for the state’s disability insurance pool. The Governor believes that state workers have been paying more than is necessary to keep the program afloat and has teamed with the commissioner of the Department of Labor and Workforce Development, Harold Wirths, to make changes to the state-run program. Currently, the state withholds funds from workers’ paychecks to cover the…

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Disability Insurance Services unveils Great Getaway Giveaway sales contest

The largest disability insurance solution provider in the country, Disability Insurance Services (DIS), has announced the upcoming start of its Great Getaway Giveaway sales contest for financial planners, insurance agents, and independent marketing organizations (IMOs). It will allow DI insurance professionals to win a trip to any destination on the planet and will begin on October 10, running through November 11. Dan Steenerson, the president of Disability Insurance Services, said that the goal of the insurer is to make sure that every American’s paycheck is securely protected. He added that…

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The risk of neglecting to purchase disability insurance

Experts are advising individuals to consider disability insurance as they regularly see people without any or without enough coverage, but who could have benefitted from it to protect their financial lives. Though many large companies will offer short-term and long-term disability insurance, this is frequently not the case among small businesses or those who are self employed. Agents are advising many customers to consider the type of loss they would experience should they suffer an injury or catastrophic illness occur that would make it impossible to continue earning an income.…

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Social security’s disability program is almost broke

Aging baby boomers and unemployed workers have swamped the Social Security disability program with claims for benefits, which has sent the system – which was already facing a financial struggle – to the point of near insolvency. Since ten years ago, applications have increased by almost 50 percent, as individuals with disabilities are laid off and cannot find employment within an economy that has dropped almost 7 million jobs. The flood of benefits claims has created an increasing applicant backlog – many of whom must wait two years before their…

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Disability Insurance: U.S. workers underinsured

A recent survey performed by The Hartford insurance company showed that over 50 percent of US workers are without disability coverage and the percentage continues to climb.  The research suggested that only 44 percent of U.S. workers have a form of long-term disability coverage, while 49 percent have short-term disability coverage.  When compared to 2010 the percentage for long-term disability insurance dropped by 3 percent and short-term disability insurance fell by 6 percent.  Executive vice president, Ron Gendreau for the Group Benefits at The Hartford said that “We are concerned…

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