|PR Newswire Association LLC|
The possibility of an African-American professional becoming disabled is more than 22 percent, higher than any other group including the general population, which is 18 percent.* Add to this the fact that a recent claims review reveals that more than 1 in 4 new long-term disability claims in the U.S. were from people under the age of 40.** Based on this and the U.S. Census data, young African-American professionals may be underestimating their risk of becoming hurt or ill and being unable to work.
Key new features+ of
MassMutual'snew Graded Premium option, available with Radius® disability income policies, is an alternative premium structure under which initial premium payments are less than the traditional or "fixed" level premiums in the early years of the policy. These premiums gradually increase each year until they become level at age 50 for the duration of the policy. The graded premiums are designed to make disability income insurance more affordable for younger, entry-level earners, who stand to lose the most over the course of their careers, if their earning potential is diminished early on by a disabling illness or injury.
MassMutual'sGuaranteed Insurability Option allows Radius disability income insurance policyowners to purchase additional increments of permanent life insurance—without the need for a medical exam or providing medical information++—every three years until they turn 46. At each three year interval, policyowners have the option to buy $25,000of permanent life insurance.
Seventy-two percent of African-American respondents to LIMRA's 2012 Insurance Barometer indicated that they believe most people need disability insurance. Yet only 46 percent indicated they themselves need disability insurance. But there may be other options.
**2012 CDA Long Term Disability Claims Review,
+Options and riders are available only in approved states. Riders are available at an additional cost.
++The insured cannot be disabled.
Founded in 1851,
Radius [Policy Form XL-IS-92 and XL-IS-92(NC) in
CONTACT: Karen Lavariere-Sanchez