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Long-Term Disability Insurance—More
Important than Life Insurance Most employees don't need more life insurance; they need long-term disability insurance and long-term-care insurance. Until age 65, you have a three times greater chance of suffering a long-term disability than of dying, and you have virtually a 100 percent chance of needing assisted-living care as you age. Employers want every employee to have long-term-disability insurance. If you are a supervisor or manager, it can be very difficult to decide not to allow coworkers to return to work when their disability prevents them from properly performing their job, and it can be emotionally impossible to decide if you also know that your decision may bankrupt their family. Long-term-disability insurance is very similar to health insurance. Employers can purchase guaranteed-issue group policies for their employees—that is, every employee is guaranteed the right to coverage at the same price (based on their age) regardless of their health. Employees can also purchase their own individual disability policies, which are medically underwritten—your monthly premium is based on your age and health at the time that you apply, and a disability resulting from a preexisting condition may be excluded from your policy.
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| ADDITIONAL RESOURCES FOR THE NEW HEALTH INSURANCE SOLUTION |
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