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Disability Insurance

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BUSINESS
July 15, 1991 | by Randolph Smith, Daily News Staff Writer
It's as easy as slipping in the bathtub, falling off a ladder, wrenching your back in the garden or getting cancer. You're disabled and can't work. Who pays the bills? For many Americans, a serious accident or illness unrelated to work means financial disaster. They would lose their homes, cars and dreams because they lack adequate disability insurance to replace lost income. Here's why. Although most Americans have health and life insurance, nearly 25 percent have no disability insurance, according to a 1990 survey by Paul Revere Insurance Group in Worcester, Mass.
NEWS
January 30, 1996 | By Michael Sokolove, INQUIRER STAFF WRITER
Here is the scenario: A college basketball player, an all-conference pick heading into his junior year, considers himself a pro prospect. A first-rounder for sure, maybe even a lottery pick. Where does he get his first real assessment of whether the pros think as highly of him as he does of himself? Maybe from his coach. But just as likely, the evaluation comes from an insurance underwriter. In recent years it has become routine for top college basketball and football players to seek disability insurance to indemnify themselves against injuries or illnesses that could cost them pro earnings.
BUSINESS
February 21, 2005 | By Josh Goldstein INQUIRER STAFF WRITER
Hospital workers at Woman's Medical Hospital will lose their health benefits on March 6 unless the hospital pays the $494,000 it owes the unionized employees' health-benefit fund. In addition, the workers' disability insurance has been cancelled. "Because your employer has failed to make contractual monthly payments to the benefit fund . . . the trustees are required to take this action which affects you and your dependents," reads a letter sent to the more than 200 unionized technical, administrative and maintenance workers at the hospital in the East Falls section of Philadelphia.
REAL_ESTATE
July 24, 1988 | By Glenn Burkins, Inquirer Staff Writer
Imagine buying the house of your dreams, then losing it after a crippling accident or debilitating illness leaves you helpless to meet monthly mortgage payments. The very thought could be chilling to someone poised to sign a 30-year mortgage note. With that in mind, thousands of people each year buy mortgage- disability insurance, hoping to protect their investments in the event of death or long-term sickness. But some experts say homeowners should be careful when buying such policies, which are usually offered through lenders and paid for monthly, along with the mortgage payment.
NEWS
February 4, 2013
D EAR HARRY: I'm in a terrible dilemma over insurance. I am 35 and have recently become a first-time father to a beautiful baby girl. Naturally, the question of life insurance came up. We got seven calls from agents selling life insurance in the month following her birth. We contacted the guy who takes care of our car and homeowner's, and he came back with the statement that long-term disability insurance is more important. He said that death is more traumatic for the other family members, but disability is far more likely.
ENTERTAINMENT
May 25, 2016
DEAR ABBY: A co-worker has been diagnosed with terminal cancer. She's not sure how long she may have. She is relatively young, so it's tragic. We have excellent insurance from work, national health care and disability insurance. Another co-worker sent out an email with a link to a crowdfunding site as well as an invitation to a party selling products. The proceeds will be donated to fulfilling a "cancer bucket list," which includes pampering, trips, and other luxuries. I sympathize with anyone having a terminal illness, but why does that mean I have to give money?
NEWS
March 18, 2008 | INQUIRER STAFF
Employee compensation in private industry in the Pennsylvania-New Jersey-New York area in December was $30.10 an hour, the second-highest of the nation's nine regions, the Bureau of Labor Statistics said today. The highest hourly total, $30.18, was in New England. In the three Middle Atlantic states, wages averaged $20.72 an hour, while the rest of the total was the cost of benefits such as vacation/holiday/sick pay, life/health/disability insurance, Social Security/Medicare, and retirement contributions.
BUSINESS
March 10, 1998 | By Josh Goldstein, INQUIRER STAFF WRITER
If you were suddenly unable to work because of sickness or injury, could you still pay your rent? Afford a telephone? Buy food? While health insurance should cover most or all medical costs, it doesn't replace lost income. It is disability insurance, purchased on your own or through an employer, that replaces wages lost because of sickness or injury. Recent industry figures indicate more and more U.S. workers are acquiring long-term disability insurance. Still, the largest provider of group disability policies in the nation, Unum Corp.
NEWS
November 1, 1994 | BY TONY SNOW
White House Budget Director Alice Rivlin violated America's most sacred political taboo when she mentioned Social Security during a campaign season. For this, she deserves praise. No part of the federal budget poses a greater immediate threat to the nation's fiscal health than our federalized retirement-insurance system. The Social Security system includes three trust funds - hospitalization insurance, old age sickness insurance and disability insurance. The disability insurance portion will go broke next year, and the hospitalization account will follow by the year 2000.
NEWS
November 11, 2002 | By Mary E. Forsberg
California is on its way to hell in a handbasket, and New Jersey just might be next. What? you ask. Legalizing prostitution? Decriminalizing drugs? Nope. Something even scarier, if you listen to the dire warnings coming from opponents. California has become the first state to provide paid family leave for people who - horrors! - take time off from work to care for their newborn children or for sick parents, kids or spouses. Under the new law, most workers can receive about 55 percent of their salary for six weeks of leave for a new child or severely sick relative.
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ENTERTAINMENT
May 25, 2016
DEAR ABBY: A co-worker has been diagnosed with terminal cancer. She's not sure how long she may have. She is relatively young, so it's tragic. We have excellent insurance from work, national health care and disability insurance. Another co-worker sent out an email with a link to a crowdfunding site as well as an invitation to a party selling products. The proceeds will be donated to fulfilling a "cancer bucket list," which includes pampering, trips, and other luxuries. I sympathize with anyone having a terminal illness, but why does that mean I have to give money?
SPORTS
January 24, 2014 | BY LES BOWEN, Daily News Staff Writer bowenl@phillynews.com
MOBILE, Ala. - Oklahoma corner Aaron Colvin crumpled at the end of a one-on-one passing drill in Tuesday afternoon's South team Senior Bowl practice. In the stands, Colvin's agent, Ken Sarnoff, immediately feared the worst. Sarnoff worked his way down to the field, where an orthopedist on hand already was manipulating Colvin's right knee. It felt loose. Quickly, Colvin was loaded into a car for transport to an MRI clinic. Sarnoff jumped into his rental car and the caravan sped off. "It's the most devastating thing I've experienced in 16 years in the business," Sarnoff said yesterday from Pensacola, Fla., where he accompanied Colvin to the clinic of famed surgeon Dr. James Andrews.
NEWS
February 4, 2013
D EAR HARRY: I'm in a terrible dilemma over insurance. I am 35 and have recently become a first-time father to a beautiful baby girl. Naturally, the question of life insurance came up. We got seven calls from agents selling life insurance in the month following her birth. We contacted the guy who takes care of our car and homeowner's, and he came back with the statement that long-term disability insurance is more important. He said that death is more traumatic for the other family members, but disability is far more likely.
NEWS
November 29, 2012
DEAR HARRY: I am in my 60s and my husband is approaching 70. We have been debating for a number of years the wisdom of long-term-care insurance. We've heard arguments on both sides. We have heard that life-care communities are also a viable alternative. So now we have three choices (buy, not buy, community). Then there are considerations of how long a period of coverage, inflation increases in benefits, premium increases, etc. Which way to go? WHAT HARRY SAYS: There are pluses and minuses for each choice.
NEWS
September 18, 2012
SITTING ON HIS park bench, Philip Abrams calls himself the "mayor of Rittenhouse Square," even though he's there only a few days a week. The rest of the time he's in his native New York City. In the 6-acre oasis, for which we are indebted to William Penn, there are other self-anointed mayors, but Abrams calls himself "the mayor with the dog," a laid-back Rhodesian ridgeback named Arye Oji. He says that means "lion of God. " For the colorful Abrams, "Fido" would never do. Sitting in the sun-dappled square, Abrams tells me what brought him here two years ago and where he plans to go. He has more stories than Hans Christian Andersen, but they are not fairy tales.
NEWS
May 8, 2012
Hey, we goofed, OK? When we cut out Harry Gross' column last July but insisted "remaining true to our populist roots as the People's Paper," most of you begged to differ. One reader asked, "Have you people lost your mind?" while another asked, "How is a horoscope column more important to readers than Mr. Gross' column?" The good news is that some mistakes can be corrected. So we're thrilled to announce the return of our personal-finance columnist. IT'S GREAT to be back! Through many years of teaching, writing and lecturing, I have come across or invented many aphorisms that apply to financial situations.
NEWS
April 25, 2012 | By Michael Hinkelman, Daily News Staff Writer
A Delaware County man who federal prosecutors say used two different names and social security numbers in a scheme to convert more than $241,000 of Social Security disability benefits for his own use while he was working was sentenced to five years probation today. U.S. District Judge J. Curtis Joyner ordered Anthony Alvin Glass, 67, of Chester, to serve the first 18 months of probation under house arrest with an electronic ankle bracelet. He was also ordered to pay restitution of $241,119.
SPORTS
April 20, 2011 | Fort Worth Star-Telegram
GRANBURY, Texas - Kevin Kolb loves to fish, and angling for bass has provided the Eagles' backup quarterback with the gift of patience. Many teams need quarterbacks, but the NFL lockout is preventing player movement as well as organized team practices. So Kolb works out at Glen Rose High School, where a former assistant coach at Kolb's alma mater, Stephenville High, Tommy Dunn, is the head coach, and he waits. "I want to be starting somewhere next year. I really want to be," the 26-year-old Kolb said.
NEWS
March 18, 2008 | INQUIRER STAFF
Employee compensation in private industry in the Pennsylvania-New Jersey-New York area in December was $30.10 an hour, the second-highest of the nation's nine regions, the Bureau of Labor Statistics said today. The highest hourly total, $30.18, was in New England. In the three Middle Atlantic states, wages averaged $20.72 an hour, while the rest of the total was the cost of benefits such as vacation/holiday/sick pay, life/health/disability insurance, Social Security/Medicare, and retirement contributions.
NEWS
July 12, 2007 | By Gayle Ronan Sims INQUIRER STAFF WRITER
Sidney Grossman, 91, who after a near-fatal accident while in his mid-20s was inspired to go into the insurance business, died June 29 in Carolinas Medical Center in Charlotte, N.C., of complications after a fall. Mr. Grossman had homes in Northeast Philadelphia, Medford Lakes, and Ocala, Fla. Mr. Grossman learned to work hard as a child and kept his work ethic throughout his life. From age 5, Mr. Grossman worked with his parents and five siblings in the family's deli at 40th Street and Girard Avenue.
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