Abstract:
Employees should be educated on the benefit coverage and strategic income tax implications of long-term disability benefits. Nobody thinks they’ll become disabled, yet the statistics on the occurrence of disability deserve attention. The Society of Actuaries reports that a 35-year-old is three-and-a-half times more likely to become disabled before age 65 than to die. Long-term disability insurance may possibly qualify as the most overlooked insurance coverage—until it’s too late. The annual open enrollment period presents an opportunity for employees, employers, and their advisers to focus on this important benefit, especially the strategic income tax implications.
