Common Issues With Long-Term Disability Plans That Jeopardize Financial Security
As an attorney, dedicated to representing disabled professionals with individual disability insurance (IDI) and long-term disability (LTD) insurance matters, I am often in the unenviable position of informing clients of the deficiencies in their coverage.
June 01, 2018 at 03:03 PM
1 minute read
|
Why Is Disability Insurance Important?
|Three Issues That Affect Perceived LTD Benefits
- How is the monthly LTD benefit calculated:
- The effect of other income benefits
- Tax consequences
- The consultation
- $250,000 divided by 12 months provides an average monthly income of $20,833,
- 60 percent of $20,833 provides a monthly benefit of $12,500,
- $12,500 is greater than the maximum monthly benefit of $10,000,
- As such, he was entitled to the maximum monthly benefit of $10,000.
- Covered monthly earnings
- Other income benefit offsets
- Tax liability
The Illusion of Coverage
Ethan F. Abramowitz , is a disability insurance attorney at Seltzer & Associates in Philadelphia. He focuses his practice on the representation of disabled physicians, dentists, lawyers and business executives. He is licensed in Florida, Pennsylvania, California. Contact him at [email protected].
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