Disability Income Protection Case Study – Rick Roofer
Disability / Income Protection Case Study
These case studies are for educational purposes only. Always work with your licensed financial professional to discuss income, life insurance, or annuity options based on your circumstances. If you would like to see what income protection disability would look like for you schedule an appointment with a Retire Happy Guide Financial Professional.
Rick B. age 39, Arizona
Current income: $92,000 a year.
Position: Construction / Roofer
Rick is a construction roofer in Phoenix Arizona. Working as a roofer for 8 years and a family with two children and the primary breadwinner for the family, Rick’s biggest fear was getting injured and being out of work and not having any income to provide for his family.
Rick reached out to us and after we discussed his goals and objectives, we provided Rick with a short-term individual disability / income protection solution.
The short-term disability solution provides Rick with a weekly benefit paid directly to him if he was injured from an accident or had sickness and was not able to work and make an income.
Coverage: $4,000 per month / $1,000 per week. This is how much Rick would receive each week.
Length or Benefit Period: 13 weeks. Rick chose a 13-week benefit period and there are options to choose a longer benefit period.
Elimination or Waiting Period: 14 days. This product is a short-term, so the elimination / waiting period is short in this case it’s 14 days. After 14 days of not working due to the accident or sickness, Rick would be eligible to receive the weekly paycheck.
Monthly premium $73.67