Purpose

This assignment is intended to help you learn to do the following:

• Explain the characteristics of insured group disability income plans.
• Explain business disability income insurance.
• Explain the sources of coverage for disability income insurance.
• Explain how the market has evolved and made it easier for unhealthy individuals to obtain medical expense insurance.

Action Items

1. In a Word document, create a table like the one below:

Type of Disability	Monthly Benefits Amount	Feature
Social security disability benefits
Employer provided disability benefits
Veteran or other federal/state disability insurance benefits
Private disability coverage
Total disability coverage
Monthly living expense
Variance (Subtract Monthly living expense from Total disability coverage)

2. Social security disability benefits row: Obtain this information from your Social Security statements. You can also calculate the disability benefits by using the quick calculator function on the Social Security Administration website.
   • Go to the Social Security Administrationwebsite
   • Click on the retirement tab.
   • On the left panel, click on "estimate other potential benefits."
   • Then click on "Quick Calculator" and follow the instructions to get your estimate monthly disability benefits.
3. Employer provided disability benefits row: Obtain this information from your employer provided disability insurance policy. You may contact your HR department to see what disability insurance was provided to you, the benefits and features of such policy.
4. Veteran or other federal/state disability insurance benefits row: If you are NOT eligible, leave Monthly Benefits Amount as "0" and Feature as blank.
5. Private disability coverage row: If you own any additional disability insurance, obtain information from relevant documents.
6. Total disability coverage row: Sum all the numbers in Monthly Benefits Amount column.
7. Monthly living expense row: This is the estimate of your current monthly living expenses.
8. Variance row: Subtract Monthly living expensefrom Total disability coverage.
9. After the table is completed write a 3-4 page paper to discuss:
   1. Whether current disability coverage is adequate.
   2. Provide recommendations based on your analysis.
   3. The features of your disability policies and how these features would impact your benefits in an event of disability.