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Monica Soltes Certified Voluntary Benefits Specialist

Humpty Dumpty Was Really a Blonde

A Personal Memoir and Advisory Summary

Monica’s Story


Humpty Dumpty the Blonde

Humpty Dumpty had a slip and fall and all the king’s horses and the king’s greatest men continually attempted to piece Humpty back together again. They tried and they tried with all of their might and always put up such a valiant fight. To mend the young broken egg who crumbled like a shell, to piece back together the egg to make whole. We honor and cherish your gallant efforts to achieve a life again given to the woman in such dire need.

By: Monica Soltes, April 2005

My Boy’s Haven

A Canadian’s Dream Abode

Our Prime Minister’s Manor

California Dreamin’

The Million Dollar Bracelet

Humpty Dumpty Falls


Disability Facts and Misconceptions



• Over 37 million Americans are classified as disabled

– 12% of the total population

– 50% are 18-64

• More than one in four 20 year olds entering the workforce today will experience a disability before the end of their career

• 8.9 million workers are receiving SSDI today (over 5% of the workforce)

Sources: Council for Disability Awareness Statistics, 2013, SSA.gov Basic Facts 2013



• The average long term disability lasts over two and a half years

• The chances of a 32 year old becoming disabled prior to retirement are 3.45 times greater than their chance of dying

• 62% of personal bankruptcies in 2007 were related to medical conditions, even though ¾ of these were people who had health insurance




• 69% of the private sector workforce has no private long-term disability insurance

• Over 80% of physicians have disability insurance – what do they know that others don’t?



0%

2%

4%

6%

8%

10%

12%

14%

Social Security Disability Insurance

My monthly benefit of $2300.00 is in the top 1% of female worker beneficiaries

Average monthly SSDI benefit for female worker beneficiaries

Average monthly benefit for female worker beneficiaries: $993.00

Source: U.S. Social Security Administration – Annual Report on the Social Security Disability Insurance Program, 2012


Disability Insurance Benefits

• Not just the $$$

• Help applying for SSDI (if applicable)

– 71% of LTD claimants in 2012 also qualified for SSDI

• Return-to-Work assistance

– Less than 1% of SSDI beneficiaries get back to work

Source: Council for Disability Awareness Long Term Disability Claims Review, 2013


Access to Disability Benefits in the Workplace

What’s available?

(average per hour worked)


Affordable Care Act

• Taking focus away from disability • Limited employee and employer attention span • Reduced HR staffing / budget • Confusion – complex regulations

• Opportunity for brokers and employers • Relatively low cost, especially voluntary plans • Employers who are eliminating healthcare coverage can

strengthen benefits package with disability • Education is the key, brokers have a critical role


Voluntary Benefits

• Disability

• Life

• Accident

• Hospital Indemnity

• Critical Illness

• Long Term Care

• Vision

• Dental

• Stress Management

• Wellness

• Legal Aid

• Smoking Cessation

• Mental Health Counselling

• Financial Planning and Education

• Credit Lending

• Final Expense


Why don’t people sell disability?

• 66% of agents say “because clients don’t ask” is the reason they don’t sell disability insurance

Source: LIMRA, Producer Perspectives on Disability Insurance, 2009


Employees Need Help

• 64% of workers say their chance of long term disability during their career is 1% or 2% - for almost everyone, regardless of age or health, it’s much higher

• 58% of adults say they are covered by disability insurance – only around 33% actually are

Sources: Council for Disability Awareness, The Disability Divide Consumer Awareness Study, 2010 America’s Health Insurance Plans (AHIP), 2004 and SSA.gov Basic Facts 2013


What do employees value?

Cash is nice, but... Employees value these benefits even more than cash

Source: Sun Life Financial Voluntary Products Survey, 2009


The Council for Disability Awareness

Help is available:


Council for Disability Awareness

• Nonprofit, raising awareness about the risk and financial impact of disability

• Supported by 20 leading disability insurers (individual and group)

• Provides educational resources that can be used by insurers, brokers and others

• Frequent media coverage and contributions

www.DefendYourIncome.org

Toolkits for advisors and employers:

DefendYourIncome.org/advisors

Defendyourincome.org/employers

www.DisabilityCanHappen.org


Monica’s Tale Continued

Safety First!

Life Happens

The Penthouse Suite

The Outhouse

Jolly’s Follys

Mr. George

Casa Georgie

Soltes’ Sunset


Life Today

• Diagnosis / prognosis

• Daily life

• Pre-existing conditions limitations

The Goalie Fight!

Mother and Child


What Next for Humpty Dumpty?

• Public Speaking

• Writing

• Amtrak Writer’s Residency?

• Homes / Careers for Disabled

• Certified Voluntary Benefits Specialist

• Further Professional Education and Development

Humpty Dumpty Was Really A Blonde

Thank you for listening to my tale.

Monica Soltes [email protected]

(248) 874-5693

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