PROTECTING YOUR PAYCHECK,
YOUR MOST IMPORTANT ASSET,
MUST BE A MAJOR PRIORITY!
PAYCHECK REPLACEMENT
DISABILITY INSURANCE
“What would happen if I was unable to work due to an illness or injury? How long would I be okay financially?” Life Happens
Your INCOME Makes Lifestyle Possible!
GET PAID WHEN YOU HAVE TO LEAVE WORK TO CARE FOR A DISABLED CHILD, PARENT OR SPOUSE WITH A SERIOUS HEALTH CONDITION
There are some long term disability plans that include an innovative Family Care benefit.
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It provides a monthly benefit for an income loss of 20 percent or greater, reducing the financial impact of income loss and medical expenses when caring for a family member.
Recent research shows the need for benefits that help individuals faced with caring for seriously ill family members:
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23 percent of adults ages 45 to 64 care for an aging adult;
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About one in five caregivers report experiencing financial strain as a result of providing care.
Source: Caregiving in the US; National Alliance of Caregiving
and AARP Public Policy Institute; June 2015.
TYPES OF INCOME REPLACEMENT
DISABILITY INSURANCE
Short-Term Disability Insurance
Provides Income Replacement for any one disabling medical event for specified period of time - 3, 6, 12, 18, or 24 months
Availability of Short-Term Disability Insurance
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Group plans through the workplace
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Individual plans through the workplace
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Individual plans directly from the private market
Typical Applications
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Personal - Income replacement
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Most Common Triggers for Filing a Short-Term Disability Claim
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Happy times: Starting a family and having a new baby.
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Inconvenient times: Injury while playing sports.
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Life taking its toll: Back pain, depression, or other mental disorders.
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Major accidents or life-changing diagnoses (i.e., diabetes or cancer).
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Long-Term Disability Insurance
Provides extended periods of income replacement beyond that provided by Short-Term Disability insurance plans.
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Typical period of coverage for any one disabling medical event - 2 years, 5 years, to age 65
Availability of Long-Term Disability Insurance
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Group plans through the workplace
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Individual plans through the workplace
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Individual plans directly from the private market
Typical Applications
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Personal - Income replacement
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Business - Owner funding for Buy-sell agreements
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Funding for Key Person losses
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Owner BOE (Business Operating Expenses) coverage
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Most Common Triggers for Filing a Long-Term Disability Claim
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Back problems,
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Other joint and soft tissue pain
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Cancer, Heart disease or Strokes
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Mental Health
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An Important Notice About Group Disability Plans Offered Through Your Workplace
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With few exceptions, group disability insurance plans provided through the workplace are NOT transferable or portable. If you leave your employment, you will likely lose your coverage!
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Some individual plans like those offered by supplemental carriers such as Aflac are 100% portable for the individual.
What If I Have Two Incomes?
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Many people have two or more jobs or they work for a company and also have a separate business from which they generate an income. The separate company may eventually become their primary source of income.
Workplace group plans usually cover only the income earned by the insured's employment.
If the individual experiences a disabling medical event and can’t work at either, this will also leave a gap that will impact their financial viability!
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If they leave the company, for any reason, they lose their their coverage for income replacement.
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The solution is a separate income replacement insurance plan that is based on both sources of incomes.
FIND OUT HOW INCOME REPLACEMENT CAN WORK FOR YOU
THE SECRET
COMPOUND INTEREST THAT GROWS BASED ON STOCK MARKET
PERFORMANCE WITHOUT THE FEAR OF FINANCIAL LOSSES!
Use the MARKET WITHOUT BEING in the MARKET!
EXAMPLE:
Sevings account A and savings account B each have $100,000 cash balance in January 1996.
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Account A earns interest based on the performance of the S&P 500 stock market index, both gains and losses. If the index exceeds 0%, the interest credited to the account balance is the growth of the index. If the index is less than 0%, the account is adjusted by the negative interest and the principle balance changes accordingly.
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Account B earns interest based on the performance of the S&P 500 stock market index also but has a floor. If the index exceeds 3%, the interest credited to the account balance is the growth of the index less 3%. If the index is 3% or less, the account balance receives no interest and the principle balance does NOT change.
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Using this example over the period 1996 through 2016, Account A would end the period wilh a gross principle balance of $304,567. Over the same period, Account B would have a gross principle balance of $551, 921.
21st CENTURY INNOVATION
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INDEXED UNIVERSAL LIFE INSURANCE (IUL)
THE NEW STANDARD IN WEALTH ACCUMULATION AND PROTECTION
IT JUST KEEPS GETTING BETTER!
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Leading Carriers Have New and Improved Performance Options that Opens the Maximum CAP on Accrued Compounded Interest to Unlimited Growth.
IUL - Indexed Universal Life Insurance
Alliance Group
Frequently Asked Questions
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How does IUL compare to a normal investment savings plans (e.g., 401K, Roth IRA, 403b -457 plans, pensions, or mutual funds) in terms of performance, flexibility, taxes, & risks? The answer will likely surprise you!
What appears on the surface to make sense in these normal investment portfolios may actually degrade your ability to achieve your goals - You will most likely have a higher probability of OUTLIVING your available money!
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What If I have already have some of these plans in-place? Sterling Secure's Strategic Life Planning will help you to align all of your assets that works best for your short-term and long-term needs and goals.
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Contact Sterling to get the amazing details!
612-819-2460
Performance - Flexibility
Safety - Freedom
INCOME - EQUITY PROTECTION GROUP
Accelerating Results
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