The Disability Insurance
Underwriting Process

The answer to that question varies, but this chart can give you some basic parameters:

Potential Earnings to Age 65 (with 5 percent annual salary increase)
Age	$50,000/year	$100,000/year	$150,000/year
30	$4,516,000	$9,032,000	$13,548,000
35	$3,322,000	$6,644,000	$9,966,000
40	$2,386,000	$4,773,000	$7,159,000
45	$1,653,000	$3,307,000	$4,960,000

However, we recommend the following initial steps for a more accurate estimate:

• Define Your Budget
  The first step in developing a plan of action is determining your monthly income and expenses in the event of a disability. Use take home pay as income and fixed expenses to determine your insurance needs. Keep in mind that individual disability insurance benefits are non-taxable if you pay with personal income.
• Assess Your Income
  Your greatest asset is your ability to work and earn an income. Assess your current income and be sure to include any other sources of income (rental properties, investment payouts, etc.).
• Determine the Financial Impact of a Disability
  Disability can drain your family’s savings and jeopardize your financial security. When you lose your ability to earn a living, you can also lose your savings, your retirement funds and even your home.

*Health Affairs, the Policy Journal of the Health Sphere, February 2, 2005

Set for Life Insurance is ready to help you lock in a policy that gives you the appropriate amount of coverage to protect your assets, lifestyle and family. Here are your next steps in the disability insurance underwriting process:

1. Request a quote.
   You will receive a customized comprehensive quote comparison sent to you via e-mail within 24 hours.
2. We will reach out.
   We will contact you soon thereafter to confirm you received the information and to review your options and determine the best course of action. At this stage, we can revise the quotes to customize them more to your needs and budget.
3. Underwriting begins.
   An application is submitted and the underwriting process begins. This includes a private phone interview with the company, a paramedical exam (blood and urine test scheduled at your convenience) and if necessary, medical records are requested from your physician. Depending on the circumstances, this should take 3-6 weeks. We will communicate with you regularly to keep you in the loop. Our role is to work directly with the insurance companies to expedite the process and to advocate for the best offer for you.
4. Review the policy.
   After a decision or offer is made, you can accept, reject or modify your policy. The policy is then placed in force. You have a 30-day free look period to review your policy.
5. Accept the policy.
   Relax. You are now covered with life insurance that meets your needs and protects your family. We will continue to remain in contact with you over the years to service your needs. As your situation changes, it is important to keep your plan up to par with your needs.

Disability Insurance Premium Reduction

If you are concerned about paying for your disability insurance while getting established, there are several things we can do to reduce your premium as much as possible.

• Look for Discounts Set for Life Insurance has discounts set up at companies and hospitals throughout the country. This can save you between 15 to 55% on your premiums (depending on gender and occupation). If discounts are not yet set up at your place of employment, contact Set for Life to help implement the discounted rates.
• Consider a “Graded” Premium This is initially less expensive and your premium will increase each year. If you wish to lock it in later, you may do so on any policy anniversary.
• Add Increase Options You may choose to simply supplement what your group policy already offers and load up your policy with increase options. This will allow you to keep your premium low now and still reserve the right to increase it in the future without any underwriting.