Protect Your Paycheck This Open Enrollment Season

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The leaves are turning, so it is time for the Council for Disability Income Awareness’s (CDIA) Fall Campaign to ramp up. The Fall Campaign has historically focused on helping educate and motivate employees to consider enrollment or reenrollment in employer-provided disability programs. Unfortunately, with much of the attention focused on health insurance, including potential premium and/or contractual changes, many employees focus primarily on health insurance during annual reenrollment in employer-sponsored programs. While very important, it is also important to understand and ask questions about other programs that might be offered, such as disability, life, dental, and other benefits.

Employers support their employees by offering disability plans, most often through group short-term and long-term disability plans, which provide a critical component of every working American’s benefits. The negative effects of a disability on a worker and his or her family’s finances can be devastating and can impact their financial solvency in both the short and long term. In addition to increased medical costs associated with a medical situation, an absence from work can also force the use of savings or even retirement accounts. Additionally, long-term disability and termination of employment often mean that voluntary retirement contributions, along with the traditional employer match, stop.

During the next two months, we will release a series of blogs and videos to help explain the key role of employer-sponsored disability programs, whether funded by the employer or offered through voluntary employee-paid programs. CDIA member firms and other recognized specialists in the disability income insurance field will provide these articles and videos. Our hope is that you will take advantage of these offerings from the CDIA and our contributors. Our only goal is to help employees and their employers better understand the central importance of a viable disability income insurance program and make informed decisions.

For additional information about disability income insurance or the CDIA, I recommend you visit our website. We offer a wide range of information with the sole purpose of helping educate you, your financial advisor, or your employer.

Bob Herum

Bob Herum, MSFS, CLU, ChFC, RHU, REBC, DIA, DIF, LTCP CDIA President. Bob has over 30 years of experience in the insurance industry and has demonstrated success as a producer, a wholesaler and as a manager. Bob has been published in such magazines as The American College’s Wealth Magazine, National Underwriter, Life Insurance Selling, Broker’s World, NAIFA’s Advisor Today and Health Insurance Underwriters (HIU). Additionally, he has spoken at national, regional and state forums on a variety of disability and worksite sales topics and is a recipient of the W. Harold Peterson Lifetime Achievement Award by the International Disability Income Society (IDIS). Bob retired as a Colonel from the Army Reserves. He is a past President of the Columbus, Ohio NAIFA chapter, a two-time past President with the International Disability Society, past-chair of the NAHU’s Disability Insurance Advisory Group, and past-President for the Cincinnati Society of Financial Service Professionals (FSP). Bob is married to Teri and has one son, Nick.