When a disability insurance policy is offered through an employer, it can be a wonderful employee benefit as well as a tool for employment recruiting and employee retention. Steve and Marcy discuss how DI can assist employers in protecting their key personnel and/or
highly paid individuals. Many times when group long-term disability insurance is in place, a reverse discrimination occurs due to long-term disability limits. Steve and Marcy also touch upon the many riders and features that may be added to a long-term DI policy, such as the residual benefit rider and the cost of living adjustment (COLA) rider. Also mentioned in this episode is the taxability component of long-term disability policies on both individual and group plans.
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Steve Savant is the host of the daily producer show, Let’s Get Down to Business, and the weekly consumer show, Steve Savant’s Money, the Name of the Game. Steve is the number one online author and videographer of insurance content. During his 30-year career in the financial services industry,... More
Steve Savant recently shared that Just a reminder: Advanced Life Deferred Annuities (up to a certain limit) may be excluded from Required Minimum Distributions calculations. This is a huge opportunity in RMD management in retirement.