7'3 Disability Insurance

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7.3 Disability Insurance
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Disability Insurance Benefits

• Disability insurance
• Types of Disability Insurance

• Long-Term Disability

• Short-Term Disability

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Facts

• Some people choose to buy an ____________________
  or rely on __________ instead of buying
  short-term disability
• Usually can be bought thru _______________________
  ___
• Can buy individually, ________________
• If your job is covered by ______________, may get
  disability covered by fed govt (annual statement
  shows how much youre eligible to receive)

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More Facts

• __________________ will cover if injured on the
  job
• Amt you receive depends on

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Example 1

• Phil Kustin injures himself in an accident and
  can no longer work. His disability policy will
  pay 60 of his average annual wages for the last
  3 years. His wages were 28,500, 29,070, and
  29,940. What is Phils monthly disability
  benefit?

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Example 2

• Kelly OHara is injured is covered by a group
  disability policy and by S.S. disability
  insurance. Her group policy pays 45 of her avg
  wages for the last 4 years, less any other
  disability benefits she receives from other
  policies. S.S. disability will pay her 225 a
  month. If her wages for the last 4 years were
  34,600, 34,900 and 42,000, what is the total
  amt Kelly will receive a month from her group
  policy?

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Wrap It Up