As a professional, you have
invested considerable time and money to make yourself a success.
If you were suddenly disabled, how long could you sustain your
current lifestyle? How could you save for your retirement?
Disability insurance can assure that you have the money to
continue your lifestyle without compromise.
By purchasing disability insurance, you are buying a monthly
benefit, which will be paid to you, if you become disabled. The
size of your benefit will depend on your level of income when
you buy the plan.
You will receive the first monthly payment after the elimination
period. The elimination period (usually 30, 60 or 90 days) is
the time, either consecutively or cumulatively which must elapse
for you to qualify for benefits. YOU decide how long your
elimination period will be.
What is the definition of
disability in the contract?
This is the most important
point to consider. The strength of a disability contract is in
its definition of disability. If you can work in any occupation,
are you still going to receive a benefit? Can you work in
another occupation and still receive benefits? If you can still
work part time, is there a partial disability benefit provision?
Information Updates
How
knowledgeable is your agent in the disability insurance
marketplace? There have been numerous changes in this area. Are
you up to date?
How much do you qualify for?
Most
insurers ask for financial evidence at the time of application
(Personal Tax Returns, usually the most recent 2 years
completed, Financial Statements for Incorporated Individuals,
etc.). This eliminates many problems if there is ever a claim.
Generally, as a consultant, your net income is much lower than
the total revenue you have generated. If you did not submit
financial statements showing your net income and a statement of
earnings and expenses, you may be paying for a policy and
benefit amount you will not receive. A complete and thoroughly
documented underwriting job by the agent must be done in order
for you to receive your benefit. We have been specializing in
the disability market place for many years. Our knowledge and
no nonsense approach will make your purchase easy as we keep you
informed during the entire process.
Flexibility
What are some of the core,
built in benefits of your contract? Has it been integrated with
government and spousal benefits? Are you getting the best value
for your money?
