1. Seminar: Timely Topics for Today’s Business World Mr. Bernstein Disability and Life Insurance January 22, 2015

2. Disability Insurance Worker’s Compensation is provided by employers according to state laws Employers may provide additional disability insurance as a benefit or may arrange discounted group rates US Government’s Social Security program Privately companies (ie AFLAC, Unum, others) 2 Seminar: Timely Topics for Today’s Business World Mr. Bernstein

3. Determining Disability Insurance Needs Project future expenses Assess current coverage Consider: Amount of Benefits (of course) Duration of Benefits Waiting Period Guarantee of Renewability Then buy it as part of your risk management policy 3 Seminar: Timely Topics for Today’s Business World Mr. Bernstein

4. Life Insurance Basics Protect those who depend on your income Pay for end-of-life costs and estate taxes We don’t know who will die young and who will live to be 100…so life insurance is based on the principle of pooling risks, just as home fire insurance or automobile driving liability insurance Rates are therefore based on estimates of life expectancy of age, gender and lifestyle groups 4 Seminar: Timely Topics for Today’s Business World Mr. Bernstein

5. Types of Life Insurance Policies Term policies cover an individual for a time period (ie 10 years) and pay a stated sum upon death Whole Life policies are permanent policies in which preset premiums are charged each year until death and a stated sum is paid upon death Whole Life policies are a saving vehicle in that if you cancel the policy before death you receive a cash value 5 Seminar: Timely Topics for Today’s Business World Mr. Bernstein