Consumers Struggle to Find Disability Income Protection Coverage.

Piscataway, NJ – 5/20/10 – The lingering recession is having yet another negative affect on America’s businesses and their employees. According to LIMRA, the percentage of companies that paid for all or part of their employees’ disability insurance fell to 48% last year. In 2002, 59% of employers paid for all or part of that coverage.

“This is very very bad news for employees and their families,” said Neil Jesani, CEO of BeamaLife.com. “Right now, with the economy in such bad shape, disability claims are pouring in to Social Security. Coverage that employees once got through work is disappearing, and at the worst possible time, people are finding themselves without any income whatsoever when a disabling injury or illness strikes.”

Jesani’s company, BeamaLife.com, owns and maintains a website that is designed to give consumers the ultimate in access to and education about disability insurance and other important financial services and strategies. BeamaLife’s proprietary technology and systems allows site visitors to compare life insurance, disability income insurance, long term care insurance, retirement savings plans and college savings plan from more than 100 of the top insurance and financial services providers in an instant.

“It’s a sad fact that many people in this country still believe they can rely on Social Security if they become disabled. But Social Security only covers illnesses that are expected to last for more than one year or which are terminal. Only 36% of applicants are approved on their first request for benefits, and even then they receive only 40% of their pre-disability earnings,” Jesani added. “The vast majority of disabilities last less than one year. Who’s going to provide for your family if you’re without a paycheck for 12 months or more?”

“I can’t think of any working person that does not need disability income protection, and with more and more employers dropping the coverages they once provided, it is critical to make sure you take the steps to protect your income,” Jesani said. “You can customize the coverage that best meets your needs – the amount of coverage, the waiting period, the duration of benefits. This is one financial move that you can’t afford not to make.”

About BeamaLife.com

BeamaLife is a privately held, rapidly growing online nationwide life insurance brokerage firm licensed in all 50 states. While leading the evolution of the life insurance industry into the E-commerce environment, BeamaLife’s mission is to educate the fellow Americans on
life insurance,
term life insurance,
whole life insurance,
college savings,
retirement savings,
disability insurance and
long term care insurance. BeamaLife is leader in
term life quote and
whole life quote. BeamaLife finds the best
life insurance rates and
life insurance quote. Please visit
www.Beamalife.com for further information.

About Neil Jesani

Neil Jesani is the President & CEO of BeamaLife.com. He is also a Certified Financial Planner and recognized by the Consumers’ Research Council of America as one of “America’s Top Financial Planners”. Mr. Jesani contributes articles and financial advice to the top publications within the financial and Indian communities. He has been a guest on several television programs providing sound business and financial advice and is passionate about helping individual consumers and business owners understand the complex and challenging world of Life Insurance and Financial Planning.

Media Contact:
Neil Jesani, CFP®
BeamaLife.com
Neil.Jesani@BeamaLife.com

(732) 465-0065 Ext. 20