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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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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