Provided by Laurence Dresner, ChFC, a financial representative with the Greco Planning Group, who represents MassMutual and other companies; courtesy of Massachusetts Mutual Life Insurance Company (MassMutual).

In times like these, good decisions matter. And when it comes to protecting a portion of your income from disability risks, it’s important to base your decision on the facts. In the case of disability, some of those facts might surprise you.

For example, more than one-quarter of today’s 20 year-olds will become disabled before they retire.1 And if you are covered by a group disability income policy through your employer, you might not know about the likely gap between your policy’s benefits and your family’s actual needs.

To start with, the typical group plan only covers 50-70% of income. And benefits are often taxable, have maximum limits, and don’t cover bonuses, commissions or 401(k) contributions. In some cases, worker’s compensation helps bridge the gap, but less than 5% of disabling accidents and illnesses are work related. 2 If you run a business, your insurance protection should help cover its operating costs, possibly provide the funds for a partnership buyout, and protect a portion of lost earnings – either yours or your employees’.

The most common way to close the gap between existing coverage and actual needs is to obtain a supplemental individual disability income insurance policy. Because you own it, you can take it with you throughout your career. And the best way to make a good decision about that policy is to work with a trusted, trained financial professional. No surprise there.

© 2011 Massachusetts Mutual Life Insurance Company 01111-0001

1 Social Security Administration, Fact Sheet March 18, 2011

2 Council for Disability Awareness, Long-Term Disability Claims Review, 2011


Disability income insurance products issued by Massachusetts Mutual Life Insurance Company, Springfield MA 01111-0001. These polices have exclusions and limitations. For costs and complete details of coverage, please call me at [631-390-4300]

Authored by: Laurence Dresner

Laurence Dresner is a Chartered Financial Consultant (ChFC), a designation conferred on individuals who have passed a rigorous series of comprehensive tests and maintain annual continuing education requirements. He's been a financial planner for over fifteen years. Mr. Dresner is also an author, columnist, and public speaker. His book is titled Personal Finance for Clergy. He has written articles that have appeared in Financial Planning Magazine (“Ministering to the Clergy”, Dec 2005), the Journal of Practical Estate Planning (June 2006), local newspapers, and web sites. The Electronic Accountant interviewed him for an article (Nov. 2001) about practitioners specializing in serving clergy titled “Clients of the Cloth”. His newsletter “Your Financial Advisor” is distributed to over 4,000 readers. Mr. Dresner has given seminars at the Academy for Jewish Religion and the Jewish Theological Seminary as well as teaching adult education courses. He has served as a board member on his temple's Executive Committee, Board of Trustees and was the investment manager for his temple's endowment fund. Mr. Dresner is a member of Toastmasters International and several financial industry organizations including the Financial Planning Association (FPA) and National Association of Tax Professionals (NATP). www.grecoplanning.com

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