1. Workers Comp./ Disability Travis Nick

2. Terms Deductible ◦A specified amount of money that the insured must pay before an insurance company will pay a claim. Premium ◦The specified amount of payment required periodically by an insurer to provide coverage under a given insurance plan for a defined period of time. Co-Pay ◦A type of insurance policy where the insured pays a specified amount of out-of-pocket expenses for health-care services such as doctor visits and prescriptions drugs at the time the service is rendered, with the insurer paying the remaining costs.

3. What workers comp. covers Injuries or loss of limbs Diseases like emphysema or repetitive motion Rehabilitation Lost wages (up to 2/3 of salary) Liability insurance for the company for lawsuits filed by injured employees

4. Who needs workers comp? An business with (4) or more employees A construction business with more than (1) employee A state or local government A farm with (5) regular employees, or (12) seasonal employees

5. Types of workers Comp Incident only ◦An employee slips or falls Medical only ◦Employee has an injury that requires a doctor visit Lost time ◦Pay benefits when employees can’t return to work  Temporary total disability  Permanent total disability  Partial disability Death ◦If an employee dies

6. Cost of workers comp. The national average of workers compensation is about $30.11 per hour Employers pay for this insurance in case something happens to an employee Protects employers from law suits

7. Choosing Disability Insurance Prudential ◦Short term disability insurance  Survivor benefit ◦ Provides additional financial support to families  First day hospital or surgery benefit ◦ Provide benefits quickly for serious disabilities  Zero day residual provision ◦ More rapid satisfaction of waiting period means quicker return to work  Partial disability ◦ Help improve productivity with part time return to work

8. Cost of disability insurance The average person can expect to pay 1- 3% of their average salary $30,000 ◦1% = $300 ◦3% =$900 $60,000 ◦1% = $600 ◦3% = $1,800 $90,000 ◦1% = $900 ◦3% =$2700

9. Companies that provide disability insurance AIG Prudential Liberty Mutual Northwestern Mutual Paul Revere Company

10. Percent of people with disability insurance Only 26% of people have disability insurance That leaves approximately 218,114,341 Americans that lack disability insurance