How would you answer the following question; How would I manage my finances and pay for my lifestyle if I could not earn an income?
Long Term Disability Planning - Income Replacement
Your income pays your mortgage, car payments, funds retirement and college planning and pays for all of your hobbies and activities. If you were asked what is your most valuable asset many people would state their home or retirement fund. For the vast majority of people the correct answer is "The ability to earn an income".
Long Term Disability replaces approximately 60% of your income in the event of a disability. LTD is essential for business owners who rely on themselves to produce income. Nobody is paying their income if they are unable to work. Long Term Disability is available to all types of business owners from white collar professionals, blue collar professionals and small businesses owners of all types.
Less than 50% of people are offered any type of long term disability plan from their employer. Even for higher income earners that are offered a group disability plan, the monthly benefit offered is often not equal to 60% of their income. Should that person become disabled, they will be faced with a shortfall in their income. An individual LTD plan can be used to augment the benefit being offered by an employer.
Group Long term and short term disability plans can be offered for as few as two people working at the same company. Group Disability is an ideal cost effective benefit to offer employees of small businesses. A combination of a group long term disability policy combined with individual disability coverage is a unique way to offer coverage for all employees while maintaining a lower cost. Over 95% of disabilities are caused by illnesses.
Income Replacement for business owners
Income Replacement for employees
Disability Buy-Out for business partners
Supplemental Income Replacement for high income earners
Business Overhead expense coverage
Disability Insurance for Key Person(s)