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Current salary is entered on the “Earnings/Other Income” screen. |
Income Replacement Objective |
Enter the percent of current salary the client would need in the event they became disabled today. Disability income needs will be adjusted annually for inflation at the “General Inflation Rate” entered on the “Assumptions” screen. The disability is assumed to begin immediately and last until retirement. |
Disability Income Policies |
Enter any existing individual or group disability policies. |
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Enter the name of the policy as you want it to appear in the printed presentation. |
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Enter the name of the insured. |
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Select “Group” if the policy is provided by the client’s employer, or select “Individual” if the client purchased the policy individually. |
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Enter the benefit amount the client will receive after becoming disabled. Group policy benefits are generally taxable while individual policy benefits are generally not taxable, so you may want to adjust the benefit as needed. |
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Enter the annual premium paid by the client only. This amount will NOT be added to your income needs, but it will appear in the presentation as part of the assumptions. |
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Enter the number of days after the disability begins before benefits begin. |
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Enter the length of time the policy will pay benefits. |
Cost of Living Adjustment |
Enter the annual cost of living adjustment (COLA) for policy benefits, if any. |
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Click to remove this line item. |
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Click to add a new line item. |