In order to avoid a situation in which the insured would be financially better off disabled than working, the existence of any group or individual coverage must be taken into consideration. The Issue & Participation section of the Marketing Guide contains the Income Qualification Guide, which may be used to determine appropriate levels of coverage. The disability income proposal software also provides a system for calculating available benefits.
Since there is a possibility existing coverage may have been issued or contain benefits in a way that can no longer be duplicated, replacement is discouraged without clear justification.
Premium Payor
The determination of who is paying the premium also affects the level of monthly benefit. If an employer pays the premium, resulting in a benefit taxable to the insured when received, the maximum issue and participation limits are higher than those applied when the insured pays the premium. This is so the insured can net a monthly benefit similar to the non-taxable benefit he or she would receive had the premium been paid with after-tax, or "out-of-pocket," dollars. As with the consideration of existing coverage, guidelines are in the Issue & Participation section of the Marketing Guide and in the proposal software.
Applicable Discounts
List Bill and Policies Size discounts are available. Refer to the Discounts Section of the Marketing Guide. Discounts can also be calculated by the DI proposal software.
Ohio National is not affiliated with, nor does it endorse or sponsor, any particular prospecting, marketing or selling system.