Group Long Term Disability Insurance Quotes Policies
Many employees of large firms have the Group Long Term Disability (LTD) type of coverage. The benefits are usually inexpensive and
fairly comprehensive. Benefit amounts can be between 50%-70% of pre-disabiity earnings. The disability benefit is integrated, meaning that it is reduced by any social
security disability or state disability that you might receive. Many LTD plans have benefit periods up to age 65. Generally, it does not make sense to replace your LTD
benefits by purchasing an individual disability plan. It may make sense, however, to supplement your LTD with the purchase of an individual plan. If you own or operate a
company with more than three employees (10 is even better), give serious consideration to offering LTD. Apply for disability insurance quotes!
Business Overhead Expense
Business overhead expense insurance pays a business owner's fixed
expenses in the event he/she is disabled. When a business owner is disabled many business expenses (rent, payroll, phone, etc.) continue. A
disability overhead expense policy can help pay these expenses. These policies generally have a shorter elimination (waiting) period and a one to
two year benefit period. The shorter benefit period is sensible, because one to two years should allow the disabled owner to determine his/her degree of
disability and if necessary sell the business. Overhead expense disability is relatively inexpensive and should be considered by any business owner with high expenses. Apply for disability insurance quotes today!
Disability Buy Out
What if one of your partners/shareholders was disabled and could never
work again? It may become necessary to buy that person out. However, at a time when your business is struggling due to this person's loss, buying out
your disabled partner could be very expensive and could financially strain your firm. A Disability Buy Out contract could provide money (in a lump sum
or installments) to pay for the purchase of your disabled partner's interest. Apply for disability insurance quotes today!
Disability Key Man
What if an employee essential to the operation of your business became
disabled? You might suffer a financial loss. In fact, the financial loss that you experience due to this disability could exceed the loss caused by a large
fire at your business. You probably insure your physical property; what about that key employee? If you have an employee this valuable, consider
insuring your risk with Disability Key Man Insurance.
Even if you have adequate disability insurance, what if you have a career
ending injury at age 30? When you reach age 65, since you did not work in the last 35 years, you would have next to nothing built up in your pension
and retirement plan. A pension completion disability policy would allow you to collect an added benefit. This benefit would be invested to provide the
pension that your disability took from you. Apply for disability insurance