Recommendation - Disability Screen
Proposed Monthly Benefits |
Enter a monthly benefit to illustrate for each client as a proposed recommendation for new disability income insurance. The “Monthly Income Need” line tells you how much each client would need to cover their desired monthly income reduced by their non-salary other income and existing disability policy benefits. If you enter a monthly benefit greater than or equal to the “Monthly Income Need” amount, then the Recommendation page in the presentation will illustrate 100% of their Disability Income Needs Goal funded. If you enter a proposed monthly benefit less than the needed amount, the Recommendation page will illustrate the percent of the needed amount that is now funded by the recommendation. |
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Click the details button to enter the proposed policy details. |
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Enter the name of the policy as you want it to appear in the printed presentation. |
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Type
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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. |