Insurance and Benefits – FENG Disability Income Protection Programs
Norm Weinstock has arranged for special discounts with some of the major providers of Disability Protection. Your participation will also help FENG. If you have any questions about this program contact:
Norm Weinstock
203-227-2105
NormWeinstock@TheFENG.org
norm.weinstock@erols.com
Why Purchase Disability Protection?
Without disability income insurance you risk financial disaster!
| On average, it can take years to recover from a disability once it has lasted over 90 days.2 |  |
At Age: | Duration: | |
| 25 | 2.1 Years | |||
| 30 | 2.5 Years | |||
| 35 | 2.8 Years | |||
| 40 | 3.1 Years | |||
| 45 | 3.2 Years | |||
| 50 | 3.1 Years | |||
| 55 | 2.6 Years |
Some Causes of Disability
Problems of Becoming Disabled
Sources of Income when You Become Disabled:
| Savings | If you save 10% annually, one year of disability may wipe out 10 years of savings! |
| Social Security | Denies roughly 60 percent of all disability claims received.3 |
| Sell investments | Will you get the true value? |
| Loan | Without an income, who will lend you money? |
| Family, friends & charity | Do you want to depend on them? |
You Insure...
 |
Automobile $20,000 1 in 68 drivers will be injured in an accident this year.4 |
 |
Home $200,000 1 in 258 homes will catch on fire this year.5 |
But what about...
 |
Your Earning Potential Over 12 million people were disabled in home and public accidents in 1997 alone.6 |
Your Most Valuable Asset Is Your Ability to Earn an Income
Monthly Average Earned Income (not including salary increases)
| Current Age |
$2,000 | $3,000 | $4,000 | $5,000 | $7,500 | $10,000 |
|---|---|---|---|---|---|---|
 | ||||||
| 26 | $936,000 | $1,404,000 | $1,872,000 | $2,340,000 | $3,510,000 | $4,680,000 |
| 28 | $888,000 | $1,332,000 | $1,776,000 | $2,220,000 | $3,330,000 | $4,440,000 |
| 30 | $840,000 | $1,260,000 | $1,680,000 | $2,100,000 | $3,150,000 | $4,200,000 |
| 32 | $792,000 | $1,188,000 | $1,584,000 | $1,980,000 | $2,970,000 | $3,960,000 |
| 34 | $744,000 | $1,116,000 | $1,488,000 | $1,860,000 | $2,790,000 | $3,720,000 |
| 36 | $696,000 | $1,044,000 | $1,392,000 | $1,740,000 | $2,610,000 | $3,480,000 |
| 38 | $648,000 | $972,000 | $1,296,000 | $1,620,000 | $2,430,000 | $3,240,000 |
| 40 | $600,000 | $900,000 | $1,200,000 | $1,500,000 | $2,250,000 | $3,000,000 |
| 42 | $552,000 | $828,000 | $1,104,000 | $1,380,000 | $2,070,000 | $2,760,000 |
| 44 | $504,000 | $756,000 | $1,008,000 | $1,260,000 | $1,890,000 | $2,520,000 |
| 46 | $456,000 | $684,000 | $912,000 | $1,140,000 | $1,710,000 | $2,280,000 |
| 48 | $408,000 | $612,000 | $816,000 | $1,020,000 | $1,530,000 | $2,040,000 |
| 50 | $360,000 | $540,000 | $720,000 | $900,000 | $1,350,000 | $1,800,000 |
| 52 | $312,000 | $468,000 | $624,000 | $780,000 | $1,170,000 | $1,560,000 |
| 54 | $264,000 | $396,000 | $528,000 | $660,000 | $990,000 | $1,320,000 |
Knowing all this, what do I do?
Own your own Portable Disability Income Protection Program is the smart choice!
What Policy Makes Sense for my Individual Needs?
- Coverage that can protect your earned income, as well as retirement benefits if you become disabled due to sickness or injury
- Customized protection for professionals, business owners (large or small) or corporate executives -purchasing coverage on an individual, employer-pay or employee pay basis
Policy Features
- Total disability means that because of sickness or injury you are not able to perform the "material and substantial duties"* of your occupation.
- Your occupation means the regular occupation (or occupations, if you have more than one) in which you are engaged at the time you become disabled. The policy also says "You will be totally disabled, even if you are at work in some other capacity, so long as you are not able to work in your occupation."
Optional Riders
- Partial disability coverage – If you return to work in your own, or a new occupation and experience a minimum 20% loss of income due to your disability, the policy will provide a partial benefit. Or, if you return to work on a part-time basis, after a disability, the policy will provide a partial benefit.
- Inflation protection – If your disability lasts more than one year, your benefits will increase 3% annually under the optional Cost of Living Adjustment rider
What Does The FENG Program Offer You?
- Innovative & flexible approach to protecting your earned income
- Can be tailored to fit your specific needs
- Portability, if you leave your job coverage goes with you
Optional Riders
- Protect future income – The Future Insurability Optionallows you to buy coverage now to protect yourself later.
- Group Supplement Rider (GSR) – Supplements your group long term disability (LTD) in the event of a partial disability.
Norm Weinstock
203-227-2105
NormWeinstock@TheFENG.org
norm.weinstock@erols.com
Sources:
1. Society of Actuaries, 1985, CIDA Table
2. Society of Actuaries, 1985, CIDA Table
3. Social Security Bulletin Annual Statistical Supplement, 1998.
4. National Safety Council, 1997 Edition
5. National Fire Protection Association, 1997 combined with U.S. Census Bureau 1996 estimate of housing units
6. Accident Facts, 1998 Edition National Safety Council