Tag: disability insurance

SSA data shows more people on disability insurance than the population of New York City

Disability Insurance

There are a higher number claiming from federal programs than the 8.25 million in NYC. According to the Social Security Administration (SSA), the number of people who are currently claiming federal disability insurance payments has now reached record numbers, exceeding the entire population of New York City. In fact, the SSA data says that there are 500,000 more people claiming than in NYC. The latest population data shows that there are 8.25 million people living in the large urban center, but the June 2012 statistics regarding federal disability insurance payments…

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Disability insurance health proofs your retirement plan

Disability Insurance

Are your golden years protected against the cost of illness and injury? Though disability insurance is considered one of the key elements of any sound retirement plan, all too many Americans are finding themselves without this vital financial protection, even if they diligently max out their IRA and 401(k) every year. Individuals and financial planners alike are overlooking the need to discuss this topic. Though many concentrate hard on the risk of remaining employed due to economic circumstances, many are neglecting to remember that there are other reasons that an…

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How disability insurance can provide security to the household finances

Julie Campbell
Disability Insurance

Consumer advocates and personal finance experts are trying to educate the public about its importance. For most people, throughout their working lives, the financial security of their family is based on their current income and not an asset that has already achieved its full value, making long term disability insurance a highly valuable and yet greatly overlooked element of any personal finance strategy. One of the most devastating events to a family’s finances is a disabled earner who cannot continue to work. This is the case at any point in…

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Rate increase for California workers comp of 8.25 percent receives approval

H. Cutner
Workers Compensation insurance

Employees may also soon be seeing changes to disability insurance regulations. Dave Jones, the insurance commissioner in California, has just approved a 8.25 percent workers comp advisory pure premium rate increase in the state for policies that are either new or renewing as of July 1 of this year. Jones explained the reason for the increase in his order that called for it. He stated that though it may not look like there has been much of a change in the costs per unit, the increasing use of medical care…

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Survey shows American workforce unprepared for new long term disability insurance benefits

Insurance Customer Service

Study indicates that many full time workers have not prepared for their potential risks. Despite the fact that medical expenses are a factor that contributes to approximately 50 percent of all home foreclosures and personal bankruptcies within the United States, the majority of the country’s full time workforce has not adequately planned for the risks that are covered by long term disability insurance. This, according to a study for the Sun Life Financial Inc’s American business group. The report on the study was entitled “Will workers in America hope to…

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