Life Insurance
Term
Whole Life
Indexed Universal Life
High Limit Accident Insurance
As much as we try to avoid them, accidents happen. No one anticipates having to manage the financial and emotional hardships that occur in the wake of an accidental death or life-changing injury. However, with our High Limit Accident Insurance, you can be prepared for the worst and eliminate the financial stress that accompanies a death or permanent disability due to a devastating accident.
Our High Limit Accident Plan will cover an individual or a group 24/7 with issue limits from $100,000 to $100 million in the case of an accidental death or dismemberment. This high limit plan can also be tailored to ensure you against specific risks such as war and terrorism (even in war zones), aviation, common carrier transportation, motor racing, and mountain climbing, to name a few.
Take the Case of
ABC Company had two top executives traveling by private air charter to Baghdad, Iraq. They would be there for 48 hours before returning to the U.S. The concerns they had were that their group benefits (both life and disability) had war and terrorism exclusions. We help you out by securing coverage for this war and terrorism risk. Just because it is a short-term need or an event that seems too risky, never say never, and give us a call.
We know you don’t always have the time to complete the traditional insurance application process. Our High Limit Accident Insurance Plan will have you fully covered easily and quickly, with no medical underwriting and just a one page application.
Accidents resulting in death or dismemberment may not be avoidable, but when it comes to the excessive amount an accident can cost, we have you covered with the High Limit Accident Insurance Plan.
Brand Protection
It doesn’t matter whether it’s an athlete, an entertainer, or someone just famous for being famous; if you want to raise a brand’s profile quickly, hiring a celebrity is a proven way to do so. However, fame can sometimes turn into notoriety. The media always seeks to uncover celebrity details, and what is exposed is not always flattering. Death, Disability, and Disgrace coverage provides support for brands that use celebrities or spokespeople to endorse and publicize their products or services. In the event of the brand being brought into disrepute, the policy provides up to an agreed sum, enabling the brand managers to recover costs and expenses of the insured campaign.
Take the Case Of
A young performer who has just signed a tour contract and a promotion contract for a beverage company. Both the promoter and the beverage company purchased a Death, Disability, and Disgrace policy to protect their investments and company images. Halfway through the tour, the young performer had a nervous breakdown and committed numerous acts that were viewed negatively by the community. The tour had to be cancelled, and the drink company’s advertising had to be pulled. With the Death, Disability, and Disgrace policies, the promoter was able to recoup the cost of the cancelled shows, and the drink company was able to recover costs and expenses of the insured campaign.
Covered Perils
- Death- in case the insured person passes away during the campaign, which causes a necessary cancellation or withdrawal.
- Disability- in case an accident or illness befalls the insured person during the campaign, which causes a necessary cancellation or withdrawal.
- Disgrace- in case the insured person commits any criminal act or any offense against public taste or decency, or if any situation or occurrence directly involving the insured person degrades or brings that person into disrepute or provokes insult or shock to the community and reflects unfavorably upon the campaign or product.
Business Loan Failure to Survive
This unique insurance protection was designed to indemnify a lender for the balance of money at risk, given a contractual business loan agreement. A premature death or disability of the borrower will usually trigger an immediate call on the loan. The protection of other business assets becomes even more essential during this type of situation.
Oftentimes times there is a desperate need for urgency when dealing with a loan approval and the funding of the loan. Time is always of the essence, and unfortunately, insurance protection is left unattended until the very end.
Take the Case of
Mr. Real Estate Developer had a project that he needed to get funded. The lender required insurance to be in place for the borrower. In hopes of closing the deal by the end of the month, Mr. Real Estate Developer’s agent is on a Thursday afternoon, looking for help. Jumping into action, we quoted $5,000,000 of coverage using our Business Loan Failure to Survive Plan.
The only underwriting requirements were a one-page application and a copy of the loan documents. Receiving this information on Friday morning, we were able to underwrite and bind the coverage that same day. By emailing the agent a copy of the declaration page to provide the bank with proof of coverage, the lender was then able to fund the loan that same day.
Policy / Underwriting Information
- Term of insurance is from 90 days to 12 months
- Renewals are considered if extended coverage is needed
- A copy of the loan agreement is required
- Benefit amount will not exceed the balance of the loan
Buy-Sell Failure to Survive
Any business with two or more owners should seriously consider having a buy-sell agreement in place. Once the buy-sell agreement has been established, there is an important need to provide a mechanism for funding the transfer of ownership. It is the unexpected situation of a premature death or disability that normally is the cause for alarm. The firm’s assets are at risk, and it is the job of the Buy-Sell Failure to Survive Plan to provide a solution to this situation.
Take the Case of
Mr. K, a 63-year-old business owner. Three years ago, he was diagnosed with cancer. Thankfully, with chemotherapy he was able to recover and resume a normal life, but now he could not get approved for buy-sell insurance because of his medical history. We were able to issue him a $3,000,000 Buy-Sell Asset Protection policy with a cancer exclusion.
Policy / Underwriting Information
- Term of insurance is from 90 days to 12 months
- Renewals are considered if extended coverage is needed
- A copy of the buy-sell agreement and company financials is required at underwriting
- Benefit amount will not exceed 100% of the ownership value
Confidential Failure to Survive
Your client may find themselves with a financial interest in a third-party business associate who is not insured in their favor. If an untimely death or disability were to happen to the uninsured third party, your client could face a significant financial setback.
Despite the reasons the third party has for being uninsured, your client needs to feel secure should the unthinkable happen. For cases such as this, we provide Confidential Failure to Survive Insurance.
Frequently Asked Questions
Q: What is the minimum benefit and the maximum benefit available?
A: $100,000 is the minimum, and the maximum is $20 million. Often, there is even higher capacity available in the market, based on the particular case.
Q: Can I purchase coverage for my spouse?
A: No, however, in a divorce situation whereby alimony or child support has been ordered by the judge, then coverage would be available.
Q: How long does underwriting take?
A: Normal underwriting is only 2-3 days.
Q: Can I purchase coverage for anyone?
A: No, the coverage can only be purchased when there is a contractual financial justification for the insurance.
This type of insurance coverage is commonly used for venture capital deals, movie productions, talent managers, and business agents, where an individual has a contractual financial interest in a third party. In order to keep the policy confidential and uncomplicated, there is no need for a medical examination, and the application process is quick and concise.
Not everyone is cooperative when it comes to applying for insurance. Now you can help your client secure coverage with our Confidential Failure to Survive Insurance plan.
Key Person Failure to Survive
The majority of companies have key people who are essential to the success of the business. Whether these people are valuable because of their expertise, power, innovation, or information, if they are uninsured, their death or disability would bring financial insecurity to the company. Help your clients relieve the worry by protecting their financial security with Key Person Failure to Survive Insurance.
Take the Case of
Three partners whose firm would like to purchase $2,000,000 of key person life insurance on each of the very busy partners. Like many Key Partners, they shunned the extensive underwriting requirements and the required paramedical exam.
The producer called us and was provided with quotes on each partner for a $2,000,000 Key Person Failure to Survive Plan. Offered in a very timely manner and requiring only a one-page application and financial justification, this plan was just the “key”.
Our asset protection plans can help producers solve problem cases thought to be undoable or even uninsurable. Informed producers now make asset protection part of their portfolios.
Often times what stops firms from securing proper insurance coverage on their key people is the sometimes difficult and time-consuming process of applying for coverage. We developed this plan partly with this in mind. Additionally, the plan design is excellent for those who are having trouble finding coverage from traditional insurance carriers. With no medical exam required, we can issue the Key Person Asset Protection Insurance Plan normally within 24 hours of the application submission.
Keep your clients financially secure with the Key Person Failure to Survive Plan.
High Limit Accident Insurance
As much as we try to avoid them, accidents happen. No one anticipates having to manage the financial and emotional hardships that occur in the wake of an accidental death or life-changing injury. However, with our High Limit Accident Insurance, you can be prepared for the worst and eliminate the financial stress that accompanies a death or permanent disability due to a devastating accident.
Our High Limit Accident Plan will cover an individual or a group 24/7 with issue limits from $100,000 to $100 million in the case of an accidental death or dismemberment. This high limit plan can also be tailored to ensure you against specific risks such as war and terrorism (even in war zones), aviation, common carrier transportation, motor racing, and mountain climbing, to name a few.
Take the Case of
ABC Company had two top executives traveling by private air charter to Baghdad, Iraq. They would be there for 48 hours before returning to the U.S. The concerns they had were that their group benefits (both life and disability) had war and terrorism exclusions. We help you out by securing coverage for this war and terrorism risk. Just because it is a short-term need or an event that seems too risky, never say never, and give us a call.
We know you don’t always have the time to complete the traditional insurance application process. Our High Limit Accident Insurance Plan will have you fully covered easily and quickly, with no medical underwriting and just a one page application.
Accidents resulting in death or dismemberment may not be avoidable, but when it comes to the excessive amount an accident can cost, we have you covered with the High Limit Accident Insurance Plan.
Kidnap and Ransom Insurance
Imagine the overwhelming feeling of relief and sheer joy that you would feel upon the release of a kidnapped victim. Now imagine the subsequent stress that would follow the realization that you are not insured in case of a kidnapping or ransom request. Your company or family had to liquidate ALL assets to pay the large ransom, purchase specialized phone equipment, pay for travel expenses, hire security protection, hire a negotiator, and pay many more unforeseen costs. In addition, to rejoin society, the kidnap victim may need extensive psychiatric counseling and rehabilitation. This financial trouble could be avoided with Kidnap and Ransom Insurance coverage.
We have developed Kidnap and Ransom Insurance to reimburse the policy owner for the expenses incurred in the event of a kidnapping.
Take the Case Of...
The International Engineering Firm. The company won a bid for a design and building project in Iraq. This was great news for the firm, but not such great news for the HR and Risk Management Departments.
They had to scramble to find replacement Group Life, LTD, AD&D, Medical, and Kidnap & Ransom Insurance coverage for the employees being deployed, and of course, the concern of war and terrorism was very important.
They came to us, the firm that has been writing war risks for over 30 years.
A kidnap and ransom insurance policy owner can apply for coverage to protect against a financial loss caused by a kidnapping or extortion—coverage up to their personal or corporate net worth. If a claim is made, the kidnap insurance policy owner will be responsible for coming up with the initial money to provide to the kidnappers. After the money has been paid, they can then submit a claim to be reimbursed for the expenses. We even provide ransom insurance to cover lost ransom money, should the delivery go wrong.
One of the most beneficial parts of the Kidnap and Ransom Insurance plan is the unlimited expenses for the Crisis Response Team. This team has worldwide knowledge about negotiations in each specific location and is highly trained to deal with kidnappings, ransom requests, and extortion plots.
No one expects to have to recover—emotionally or financially—from the trauma of a kidnapping of a colleague or loved one. But should the situation arise, you will be relieved to know we have you covered with Kidnap and Ransom Insurance.
Health Insurance
Group Insurance
ACA Coverage
Medicare
USAway Major Medical Plan
This plan is not Affordable Care Act (ACA) compliant.
Traveling abroad is exciting and fun! However, without the proper insurance, it is dangerous and could result in disaster. US residents traveling abroad may be surprised to discover that traditional health insurance sometimes offers less-than-standard coverage or may even be rejected while abroad. For this reason, the State Department advises international travelers to purchase short-term medical insurance while outside the US.
Wouldn’t your clients like to know that, despite the hundreds of potential misfortunes that may occur during an international trip, we have them covered with the USAway Major Medical Plan? With an option to apply online, we offer the fastest service available.
Take the Case of
Mr. K. was snowboarding in the French Alps when he fractured his leg in the terrain park. Since this was not a life threatening condition, his primary USA coverage did not cover the bill. Fortunately for Mr. K., he had an international major medical policy that covered the $15,000 medical bills.
This policy offers medical coverage up to $5 million, along with other benefits to ensure a safe, worry-free trip. We will help your clients balance the financial consequences of minor problems, such as lost luggage, as well as catastrophes, such as serious injury or accidental death.
The USAway Major Medical Plan is the perfect policy for Americans living or traveling abroad. Help your clients secure short-term medical insurance to protect themselves from the high costs of injuries and bad luck abroad.
Options available:
- War & Terrorism coverage
- Hazardous sports/activities
International Major Medical Insurance Plan
This plan is not Affordable Care Act (ACA) compliant. This plan does not satisfy the visa requirement for travel longer than 6 months per the 10/4/19 presidential proclamation.
Foreign nationals traveling to the United States on business or for vacation may not be aware of the high cost of medical treatment in the US. Imagine the shock and stress that could overwhelm your foreign clients upon the realization that they are fiscally responsible for medical care in the event of an accident or illness! With the International Major Medical plan, you can help protect your clients in the event of an accident or illness while they are traveling in the USA. With our online application, getting coverage couldn’t be easier.
Uses
1. Foreign nationals visiting the USA.
2. Foreign nationals moving to the USA.
3. Foreign nationals employed by a US company who reside in their home country.
4. Foreign nationals employed by a US company working outside their home country.
It can be confusing to navigate a foreign country with different customs, restrictions, and guidelines. But, with the International Major Medical Insurance plan, your clients can travel in the US virtually worry-free. The International Major Medical is specially designed for people visiting the United States on business or vacation. This plan can provide medical coverage for up to one year with benefits up to $1 million.
Options available:
- Accidental Death & Dismemberment up to 10x income
- Kidnap & Ransom coverage
- Hazardous Sports & Activities
The Bridge Plan
The Bridge Plan, a major medical insurance platform catering to U.S. residents awaiting Medicare eligibility. It has faithfully served as the go-to gap healthcare product for persons aged 60 years and older who are not yet eligible for Medicare or who have missed their Medicare enrollment window. The product has also been the perfect solution for those who have immigrated to the U.S. and have yet to establish residency, or have been permanent residents for fewer than five years and are still not eligible for Medicare.
The plan touts robust benefits that simulate Medicare protection platforms Part A and Part B. Part A covers hospitalization expenses, including standard hospitalization, hospice facilities, skilled nursing facilities, and home healthcare. Part B covers physician and surgeon expenses, including inpatient and outpatient services, as well as ancillary benefits for supplies, therapy, and ambulance transportation expenses.
Additional benefits include:
- Up to a 364 day term
- Up to a $1 million max benefit
- Premiere PPO network
- No coinsurance and no co-pays
The Bridge Plan is not compliant with the Affordable Care Act.
Solutions
There are 3 conditions for which the Bridge Plan is used as a temporary substitute:
Medicare Restriction #1: Medicare will accept people who have been permanent residents of the United States for at least five years. This does not require citizenship or any payment into Social Security prior to eligibility. The only requirement is that they must pay a premium to have both Part A and Part B.
Solution #1: The Bridge Plan is available to persons who have become permanent residents of the United States and who are within the five-year waiting period for Medicare eligibility.
Medicare Restriction #2: Some people may be eligible for Medicare due to age and qualifications, but have failed to enroll. Enrollment is not automatic. Social Security does not remind people to enroll. If they miss their enrollment period, they must wait to enroll at a later date. This may be as much as 18 months later!
Solution #2: The Bridge Plan will cover them with benefits similar to Medicare temporarily until the next enrollment opportunity.
Medicare Restriction #3: Some people, for various reasons, have only Part A or Part B. They may be able to get the additional part through Medicare, but at a later date.
Solution #3: The Bridge Plan may be sold with both Part A and Part B, just Part A, or just Part B.
Accident Only Major Medical Plan
This plan is not Affordable Care Act (ACA) compliant.
The Accident Only Major Medical Plan is designed for US citizens and US residents.
The Accident Only Major Medical Plan has been set up to be as simple as possible—there is no co-pay & no coinsurance. Once the deductible has been fulfilled, the coverage will reimburse 100% of eligible expenses up to $1,000,000 or the policy maximum, whichever is less.
Policy terms can be from one month up to 12 months.
Eligible Expenses:
- Hospital Expenses
- Physician Services
- Skilled Nursing Facilities
- Home Health Care
- Ambulance Services Expenses
- Prescription Drugs
The coverage also includes $25,000 of accidental death coverage.
Take the Case of
Mr. S. was skydiving when he fractured his ankle in a rough landing. Fortunately for Mr. S., he had an Accident Only Major Medical Plan, including skydiving, that covered the $12,000 medical bills.
Help your clients secure short-term medical insurance to protect themselves from the high costs of injuries.
Options available:
Hazardous sports/activities
Personal Disability Insurance
Personal High Limit Disability Insurance
It can be hard to face the fact that a disability can happen at any time to anyone; your clients without high-limit disability insurance could potentially face huge financial losses. Your clients need to protect themselves and their families from the ruinous fiscal consequences of a debilitating injury or illness. Personal disability insurance allows people to not only continue fostering their children’s quality education and put three well-balanced meals on the table, but also to continue living in the manner to which they have become accustomed. If your clients are properly insured, they can continue living comfortably in the face of a temporary or permanent disability.
Take the Case of
Mr. A, age 62, found himself with a new young family.
At the age of 62, it was difficult to secure an adequate level of disability insurance.As the sole breadwinner for his family, every dime of his $170,000 income is needed to support the mortgage, food, clothing, and private education for his two young children. Retirement is not even in Mr. A’s vocabulary at this time of his life.
We were able to secure coverage for this man when other companies wouldn’t even consider it.
Don’t let your clients go uninsured (or underinsured) because of age. Let us help you find a solution.
When everyday personal expenses are suddenly unfunded, savings accounts dwindle rapidly; when there is no monthly income, it will become difficult for your clients to support their families, maintain their houses, and sustain their lifestyles. Unfortunately, traditional disability carriers cannot provide everyone with the personal disability coverage they require. Some people are deemed uninsurable because of their age, their employment in a risky occupation, the location of their workplace, their medical history, an avocation for risky behavior, frequent international travel, or simply the need for a high-limit disability plan that a traditional carrier won’t underwrite.
We offer many high-limit disability plans designed for your clients who are not satisfied with coverage from the traditional market. Our plans are custom-designed for your clients from all industries and financial backgrounds. We do not intend to compete with traditional disability carriers; we aim to supplement coverage where needed and to offer coverage when other carriers cannot.
Keep your clients and their families financially secure with one of our tailored high-limit personal disability plans.
Guaranteed-Issue Multi-Life Disability Insurance
If a disability inhibits one from working, the financial strain can be catastrophic; everyday costs suddenly become nearly impossible to cover. Even with a disability insurance plan in place, it may be hard to continue living a fulfilling lifestyle; many plans only cover the bare bones. Because many highly compensated employees have difficulty obtaining adequate and reasonable amounts of disability insurance through their group long-term disability insurance plans, we have constructed a high-limit supplemental group plan.
Take the Case of
XYZ Hospital. The hospital had employment contracts with its top executive and medical chairs. The incomes were way beyond the ability of LTD and individual disability combined to do the proper job of indemnification. This placed a huge liability on the books of the hospital.
Solution: Guaranteed Issue Supplemental Disability Insurance up to 75% of income, with issue limits as high as $50,000 per month.
We have designed both a group and a multi-life approach to this problem; both plans offer premium discounts and underwriting concessions. In participation with another disability insurance plan already in place, this plan can insure a person for up to 75% of their income and has issue limits of $100,000 per month or more! We understand that not all people and certainly not all groups are the same; therefore, if your client’s group has special needs, we will design a custom group insurance plan to cover them.
We are always trying to introduce new ideas that will help our producers in their business. Our latest productions are three videos that will help you demonstrate to clients the importance and simplicity of supplemental disability insurance that can be offered on a guaranteed basis to groups of 5 individuals or more.
Blue & Grey Collar Disability Insurance Plan
The Disability Insurance Solutions Plan was designed specifically for your blue and gray collar clients. This plan comes with many benefits already included, such as recurrent disabilities, transplant benefits, presumptive benefits, and waiver of premium. With limits of $100,000 per month or more and participation limits up to 75% for personal disability and 100% for business uses, you will be able to properly protect your clients’ incomes.
The Solutions Plan may be used as:
- Primary Coverage
- Excess / Supplemental Coverage
- Special Risk Coverage
- Domestic Coverage
- International Coverage
Take the Case of
When a young man lost one of his legs in a construction accident, he was not sure what the rest of his life would hold for him. A tough sort of guy, he knew that he wanted to conquer the problems that now faced him. With a fascination for magic, he worked hard to learn a new skill and started performing magic at parties. Strapping on a wooden peg leg and dressing like a pirate, his new career was launched.
Problem: Who would insure this man’s income? One leg, dressed like a pirate, and performing magic: This is not your typical disability insurance risk!
This man knows how quickly disability can change one's life. He wanted to insulate himself from the peril of another unfortunate disability. We were able to get him the coverage he needed.
Many people working in blue-collar and gray-collar occupations find it difficult to obtain sufficient amounts of disability income replacement with adequate benefit periods. Disability insurance is invaluable for any person in any occupation; a plan like this one will ensure that your blue-collar and gray-collar clients can continue their standard of living despite a debilitating accident or sickness. Make sure your clients are sufficiently covered with our Disability Insurance Solutions Plan.
Brokers & Traders Disability Insurance Plan
Working in a specialty occupation sometimes necessitates a high-limit disability insurance plan. Unfortunately, for highly compensated employees such as commodity brokers and stock traders, sufficient amounts of disability insurance can be difficult to obtain from traditional carriers.
We have designed the Brokers and Traders Disability Insurance Plan to provide men and women with the income replacement coverage they require. These professions can be unpredictable and are sometimes uninsurable by the traditional market; however, a disability insurance policy is one of the most crucial parts of a sound financial plan.
Take the Case of
Mr. B has been a commodity trader for 15 years. His income can and does fluctuate dramatically year by year, but it has always provided him with a very good standard of living. But his roller coaster income had created a decline in the traditional markets. With creative financial underwriting, we were able to provide Mr. B with a proper amount of disability insurance to protect his family’s financial health.
If a disability leaves your client unable to work, our Brokers and Traders plan will save him or her from financial ruin. A sufficient DI plan makes it possible for your disabled client to pay his or her mortgage and utilities bills, buy clothing, and cover school costs for his or her children, as well as put food on the table every day. Cash flow is critical when you’re unable to work for an extended period of time; our Brokers and Traders Disability Insurance Plan will allow your clients to maintain their standards of living.
The Brokers & Traders Disability Insurance Plan benefits may be used for the following:
- Primary Coverage
- Excess / Supplemental Coverage
- Special Risk Coverage
- Domestic Coverage
- International Coverage
With monthly benefits available up to $100,000 or more and lump sum benefits up to $50 million or more, the high incomes of stockbrokers and commodity traders are easy for us to insure. So if your highly compensated clients are unhappy with their current level of income replacement disability insurance, our Brokers or Traders Disability Plan will provide proper coverage.
Chiropractors Disability Insurance Plan
Specifically designed for people in the medical field of chiropractic care, the Chiropractors Disability Insurance Plan recognizes the coverage needs of people in this specialized occupation. Traditional insurance markets often leave highly compensated chiropractors without adequate disability insurance. Sufficient DI coverage is one of the most important pieces of a secure financial plan. A disability resulting in the inability to return to work could cause financial ruin; being underinsured is almost as dangerous as having no insurance.
The Chiropractors Disability Insurance Plan allows chiropractors to continue living comfortably in case a disability leaves them unable to work. With issue limits as high as $100,000 per month and participation limits up to 75% for personal disability and 100% for business uses, our Chiropractors Disability Insurance Plan will offer proper income protection for your clients.
This plan may be used as:
- Primary Coverage
- Excess / Supplemental Coverage
- Special Risk Coverage
- Domestic Coverage
- International Coverage
Take the Case of
Tony H., D.C., is just out of chiropractic school and has the opportunity to purchase an existing chiropractic practice. He borrows $500,000 from the bank to make this purchase, and the bank demands disability insurance to indemnify the repayment of the loan. Business overhead expense is limited to a 24-month benefit period, which does not cover the entire period of the loan payback. The answer is Loan Indemnification from us!
We designed the Chiropractors' Disability Insurance Plan to provide men and women working in this medical field with the proper amount of coverage they require. In the event of an accident or debilitating disease, our Chiropractors' Disability Insurance plan will keep your clients safe.
We are here with all the information you need. We will help you expertly explain disability plan options to your clients and get them adequately covered.
Dentists Disability Insurance Plan
The Dentists' Disability Insurance Plan was designed with the understanding that dentistry is a specialty occupation and, therefore, those working in the dental trades often need high-limit disability insurance. Unfortunately, because this is usually a highly compensated line of work, dentists often find it difficult to obtain sufficient amounts of disability insurance from traditional carriers.
This plan may be used as:
- Primary Coverage
- Excess / Supplemental Coverage
- Special Risk Coverage
- Domestic Coverage
- International Coverage
Take the Case of
Dr. T chose to cut back on his work hours to have more family time. This resulted in his not being able to exercise his Future Increase Option on his two traditional disability policies because his income had not increased sufficiently.
Now the children are off to college, and Dr. T has returned to full-time practice. He needs more disability insurance, especially during the children’s college years.
Since he missed out on using his Future Increase Options, who besides us would issue more disability insurance to Dr. T?
Disability insurance is the cornerstone of a secure financial plan. A disability resulting in your client’s inability to return to work would be financially ruinous if sufficient insurance coverage is not in place. We designed the Dentists' Disability Insurance Plan to provide men and women working in the dental profession with the amount of income coverage they require.
This plan allows dental professionals to maintain their standard of living if a disability leaves them unable to work. With issue limits of $100,000 per month (or more) and participation limits up to 75% for personal disability and 100% for business uses, our Dentists' Disability Insurance Plan will provide your clients proper income replacement.
In the event of an accident or debilitating disease, our Dentists' Disability Insurance plan will keep your clients safe. We are here with all the information you need. We will help you expertly explain disability plan options to your clients and get them adequately covered.
Veterinarian Disability Insurance Plan
The Veterinarian Disability Insurance Plan was designed to provide men and women working in the medical field with proper levels of income protection. This plan allows veterinarians to maintain their standards of living if an injury or illness leaves them unable to work. With issue limits as high as $150,000 per month (or more) and participation limits up to 75% for personal income protection and as much as 100% coverage for business uses, our Veterinarian Disability Insurance Plan will provide adequate levels of disability benefits to keep your clients properly covered.
This plan may be used as:
- Primary Coverage
- Excess / Supplemental Coverage
- Special Risk Coverage
- Domestic Coverage
- International Coverage
Take the Case of
Dr. Z, age 45, felt it was time to do some financial planning.
At the age of 45, he had a well-established practice. Dr. Z enjoyed travelling and exploring different types of foods. Unfortunately, when he applied for coverage with the traditional carriers, he was declined based on his Body Mass Index (BMI).
We were able to secure coverage for Dr. Z when other companies wouldn’t even consider it. Don’t let your clients go uninsured (or underinsured) because of age. Let us help you find a solution.
We designed the Veterinarian Disability Insurance Plan to provide men and women working in this medical field with the proper amount of coverage they require. In the event of an accident or debilitating disease, our Veterinarian Disability Insurance plan will keep your clients safe.
We are here with all the information you need. We will help you expertly explain disability plan options to your clients and get them adequately covered.
Entertainment Industry Disability Insurance Plan
For your clients working in the entertainment industry, we have developed the Entertainment Industry Disability Insurance Plan. Traditional insurance carriers may refuse to insure those working in the entertainment industry, as their incomes can fluctuate between jobs. This industry is a broad one; our Entertainment Industry Disability Insurance Plan was developed to provide those who work behind the scenes with the coverage they require.
Some of the common entertainment industry careers:
| Animation | Lighting | Art |
| Makeup | Camera | Musician |
| Composer | Production | Construction |
| Set Designer | Set People | Director |
| Sound | Driver | Special Effects |
| Editor | Stunt Person | Electrician |
| Writer |
Take the Case of
Bill M., a 38-year-old voice actor. Bill earns $125,000 annually doing commercial voice-overs. Like most people, he has to get up in the morning and report to work. This might be an audition or an actual studio session. His income supports his family of three, a nice home, and two newer automobiles. A disability would cause major financial hardships. We offered this income earner a disability plan that would replace 65% of his income, even though his occupation was that of a voice actor.
This plan covers them all and allows you to prescribe adequate levels of income replacement if a disability leaves them unable to work. This plan provides monthly benefits from $1,000 to $100,000 or more and offers lump sum benefits of $50,000,000 or more. Make sure all of your clients are protected from the financial ruin a disability could bring with the Entertainment Industry Disability Insurance Plan.
Executive 400 Disability Insurance Plan
The Executive 400 Disability Plan was designed for the white collar market and has issue limits of $100,000 per month or more, with participation limits up to 75% for personal disability and 100% for business uses.
This plan may be used as:
- Primary Coverage
- Excess / Supplemental Coverage
- Special Risk Coverage
- Domestic Coverage
- International Coverage
Company executives and other powerful employees without proper insurance coverage are risking financial ruin in the face of a disability. Working in a specialty occupation sometimes necessitates a high-limit disability insurance plan. Unfortunately, for a highly compensated executive, sufficient amounts of disability insurance can be difficult to obtain from traditional carriers.
Take the Case of
Mr. S, age 43, is a successful businessman with a wife, three children, and an annual income of $300,000. Although he had the maximum monthly disability benefit available through the traditional carriers, it only offered a 47% replacement of his income. This would not be enough income replacement to cover his mortgage, living expenses, and the private education tuition for his three children. Who would offer an additional $4,500 per month in disability benefits to bring his disability portfolio to 65% of his income? The answer is our firm.
Disability insurance is one of the most important parts of a secure financial plan, especially for highly compensated executives. We designed the High Limit Executive 400 Disability Insurance Plan with the white collar market in mind. This plan allows white collar executives to maintain their standard of living in case an injury or illness leaves them unable to work.
With high issue limits and generous participation limits, our Executive 400 Disability Insurance Plan will provide income security for your highly compensated clients. Disability insurance is invaluable for any person in any occupation; a plan like this one will ensure clients can continue their standard of living despite a debilitating accident or sickness.
We have over 50 years of underwriting experience; we will help you expertly explain disability plan options to your clients to adequately protect their incomes.
Click the image to download a real-life claim story.
Legal Profession Disability Insurance Plan
Attorneys, judges, and other legal professionals often have incomes that exceed the limits of the traditional insurance markets; therefore, people in the legal profession are usually underinsured. Being underinsured can be just as dangerous as not being insured at all. Our Legal Profession Disability Insurance Plan was developed to help your clients secure sufficient coverage in case a disability inhibits them from working.
The Legal Profession Disability Insurance Plan can be used as:
- Primary Coverage
- Excess / Supplemental Coverage
- Special Risk Coverage
- Domestic Coverage
- International Coverage
Take the Case of
Mr. Q, Esq., is a preeminent trial lawyer with an income in the seven figures. His lifestyle is also in the seven figures, so a disability would create a real financial problem. The $10,000 per month of IDI and the $25,000 per month group LTD would not come close to covering his monthly expenses. His needs were met by us, issuing him $75,000 per month in additional disability coverage. In addition to the jumbo size of the monthly benefit, the policy recognized his specialty within the legal profession as a litigator/trial attorney.
Recognizing that this industry has many specialties, the Legal Profession Disability Plan is customized for the differences between trial attorneys and business or civil attorneys, as well as judges. This provides an own occupation definition, which is incredibly beneficial for a person practicing a specialized portion of the law.
If your clients working in the legal industry are not satisfied with their current amount of income replacement insurance, our Legal Profession Disability Plan will solve the problem. We will be happy to assist you by providing the information you need to know to make the sale. We will help you expertly explain income replacement options to your clients, allowing them to secure adequate amounts of disability insurance.
USA way Major Medical Plan
This plan is not Affordable Care Act (ACA) compliant.
Traveling abroad is exciting and fun! However, without the proper insurance, it is dangerous and could result in disaster. US residents traveling abroad may be surprised to discover that traditional health insurance sometimes offers less-than-standard coverage or may even be rejected while abroad. For this reason, the State Department advises international travelers to purchase short-term medical insurance while outside the US.
Wouldn’t your clients like to know that, despite the hundreds of potential misfortunes that may occur during an international trip, we have them covered with the USAway Major Medical Plan? With an option to apply online, we offer the fastest service available.
Take the Case of
If a participant were contributing $1,250 per month from age 40 up to age 65 and was earning 5%, at age 65, the account would be worth $751,702. But if at age 44 the same individual missed three years of work due to disability (average duration at age 44 is 4 years and 4 months), the account would only be worth $632,209, a loss of 16%.
This plan can be designed to pay the equivalent of the balance of the contributions anticipated by the participant. The benefit is paid out as a lump sum and is paid directly to the insured. With the guidance of a professional planner, the insured may elect to invest the benefit into funds similar to his pension plan or go a different direction, such as an annuity, certificate of deposit, or any other discretionary use.
Pension Completion Disability Insurance will keep the disabled focused on the tasks at hand, providing for his or her family and recovering from his or her recent setback.
Physicians & Surgeons Disability Plan
The Physicians & Surgeons Disability Insurance Plan was designed to provide men and women working in the medical field with proper levels of income protection. This plan allows medical professionals to maintain their standards of living if an injury or illness leaves them unable to work. With issue limits as high as $150,000 per month (or more) and participation limits up to 75% for personal income protection and as much as 100% coverage for business uses, our Physician and Surgeons Disability Insurance Plan will provide adequate levels of disability benefits to keep your clients properly covered.
This plan may be used as:
- Primary Coverage
- Excess / Supplemental Coverage
- Special Risk Coverage
- Domestic Coverage
- International Coverage
Take the Case of
Dr. D., a 43-year-old radiologist, had an income of $350,000. Traditional carriers maxed out at $10,000 per month. This only covered 34% of his income.
We provided an additional $9,000 per month, bringing his level of coverage to 65% replacement.
This is an example of daily business out there. Income earners of $150,000 or more are excellent candidates. Start with your own client base and see if they are properly insured to replace at least 65% of their income. If not, give us a call.
Working in a specialty occupation sometimes necessitates a high-limit disability insurance plan. Unfortunately, physicians and surgeons can find it difficult to obtain sufficient amounts of disability insurance from traditional carriers.
Disability insurance is the cornerstone of a secure financial plan. A disability resulting in your client’s inability to return to work would be financially ruinous if sufficient insurance coverage is not in place.
If your clients who work in the medical field are dissatisfied with their current amount of disability insurance, our Physicians and Surgeons Disability Plan is available to them. We will help you expertly explain disability plan options to allow you to prescribe adequate levels of income replacement.
Click the image for real-life claim stories.
Pilots Loss of License
Temporary or Permanent Loss of License
Corporate and commercial pilots have always had a tough time securing proper insurance. In the past, the majority of insurance companies have told pilots that they are “uninsurable” because there are too many factors that could cause them to lose their medical certificate. Due to strict medical qualifications, many health issues that would allow employees in the traditional workplace to continue working would cost a pilot his or her license.
While traditional insurance carriers have effectively turned their backs on this occupation, we have designed a loss of license insurance plan that will cover pilots if they lose their medical certificate and are no longer able to fly.
Corporate aviation is a booming industry. Many corporate aviation companies want to attract the top pilots, but, in most cases, are unable to provide adequate insurance or offer none at all. Now you can prescribe a solution by providing insurance coverage to your pilot clients through us.
Take the Case of
California is ablaze annually with numerous major wildfires. The television news can look like an adventure movie: tanker planes and water-dropping helicopters swooping across the TV screen, making daring water drops. Brave and heroic men and women who are risking personal injury and possible loss of life in fighting the fierce and raging fires. Tragically, this is not an adventure movie; it is real.
Fortunately for some of the pilots, crew members, and professional firefighters, observant and caring insurance brokers have tended to their needs with the Pilot’s Loss of License Insurance plan issued by us.
In addition to corporate pilots, we can also insure helicopter pilots, charter operators, firefighting pilots, commercial pilots, agricultural aviators, stunt pilots, and test pilots. Pilot Loss of License coverage is available on an individual basis as well as on a guaranteed issue basis for groups.
Why Purchase Loss of License Insurance?
A loss of a license insurance policy is one of the most crucial parts of a sound financial plan. A loss of license plan makes it possible for a suspended pilot to pay his or her mortgage and utilities bills, buy clothing, and cover school costs for his or her children, as well as put food on the table every day. Cash flow is critical when you’re unable to work for an extended period of time; our Pilot Loss of License Plan will allow grounded pilots to maintain their standards of living.
- Loss of license based on the FAA license
- Pilot Loss of License Insurance provides exceptional benefits at affordable rates
- Provides monthly payments to keep your world intact until your medical certificate is reinstated
- If you are grounded as a result of an insured sickness or injury, benefits may pay up to 60 months
- Monthly benefit amounts up to $10,000 per month or more
Click the image to download a Real Life Claim story.
Simplified Underwriting Disability Insurance
When it comes to disability insurance, most consumers prefer simple solutions to heavy-handed, intrusive underwriting requirements. But acquiring sufficient amounts of disability insurance can be challenging and time consuming for both broker and client, although it doesn’t have to be. We have created the Simplified Underwriting plan to streamline and greatly ease the process of securing excess disability insurance.
Who Qualifies: Individuals who need additional disability insurance and have been approved for and purchased a fully underwritten, non-cancellable disability insurance policy are eligible for the Simplified Underwriting plan within 90 days of the issuance of the non-cancellable policy.
How It Works: The Simplified Underwriting plan eases the process of purchasing excess disability coverage by waiving the usual medical underwriting requirements of exams, blood draws, and urinalyses.
Saving Time & Money: By waiving the need for exams, medical records, and laboratory costs, we were able to reduce the underwriting time by more than half and pass along additional cost savings to applicants in the form of reduced premiums.
Subjectivities
- The non-cancellable policy must have been fully underwritten.
- If the non-cancellable policy has any waivers of conditions and/or ratings, underwriters must agree to use or not use these waivers and/or ratings before policy issuance.
Application Requirements
- A copy of the declaration page from a non-cancellable disability insurance policy (issued within the last 90 days).
- Simplified underwriting one-page application form.
StarCover®
Entertainers have historically been too risky for traditional carriers to insure due to a variety of factors. Some companies are uncomfortable with the many months of unemployment in between jobs or the royalty income that would inevitably continue even if a client were to become disabled. Additionally, many entertainers have seven figure incomes and require large monthly benefits that traditional carriers cannot or will not provide.
At first glance, these cases seem difficult to place, but the same is not true with the StarCover® Disability Insurance Plan. This plan has been customized to meet the unique needs demanded by high-profile clientele and those working within the movie, television, and music industries.
Disfigurement Rider
StarCover® features an optional disfigurement rider. When an entertainer is disfigured, they often lose their ability to secure work. With the disfigurement rider, the policy provides benefits even if the entertainer is not disabled.
Our “Your Occupation” definition of disability has been purposefully designed to allow an individual who is receiving disability benefits as an entertainer to continue to collect benefits and simultaneously be employed in another occupation.
StarCover® covers all entertainers and allows you to prescribe adequate levels of income replacement with monthly benefits from $1,000 to $100,000 or more, and offers lump sum benefits up to $50,000,000 or more. Make sure all of your clients are protected from the financial ruin a disability could bring with the StarCover® Disability Insurance Plan.
Stock Option Plan
The Stock Option Disability Insurance plan is a long-term, own-occupation, career-ending disability insurance product designed for executives of publicly traded companies. Within publicly traded corporations, many of the top executives are compensated via a number of different sources. The more common sources will include salary, bonus, and stock options. After a review of public compensation data, the results are unanimous: these individuals are paid a modest salary, bonuses tend to vary, and stock options can be as much as 80% of the total compensation package. This holds with the majority of America’s top companies.
So what happens to an executive who has a career-ending disability? Disability insurance benefits will begin after the elimination period, but their annual stock options will no longer be awarded to them. With executive compensation packages heavily weighted toward stock options, their disability insurance portfolio will have a massive deficit.
Benefits are paid on a lump sum basis of up to five times the last three years' annual average stock option awards. we were able to secure benefits as much as $50,000,000 or more.
Accelerated Benefit Plan
The Accelerated Benefit plan was designed to provide an insured person with high-level coverage on top of any existing benefits while at the same time providing a benefit period that will provide income for the insured person to age 65, 67, or 70. Since this policy is offered as an excess or supplemental policy, the insured person must have underlying group and/or individual disability coverage in force.
When the insured person becomes disabled and the elimination period is fulfilled, the insured person will begin receiving monthly disability insurance benefits. If the insured person is totally disabled for a period longer than 120 months, the Accelerated Benefit Payout provision will be triggered. The policy will pay the remaining monthly benefits to age 65, 67, or 70 as a lump sum without any additional definition restrictions.
If the insured person is totally disabled for a period longer than 120 months, the Accelerated Benefit Payout provision will be triggered. The policy will pay the remaining monthly benefits to age 65, 67, or 70 as a lump sum without any additional definition restrictions.
- 5 Year Policy Term
- 90 Day Elimination Period
- “To Age 65, 67, or 70” Benefit Period
- Accelerated Benefit Payout
- Coverage Beginning At Ages 35
- “Own Occupation” Including Specialty
Business
Buy-In Disability Insurance
When an individual is invited to become a partner in a professional practice or business, there is usually a period of time that involves buying in. During this period, the deal is riding on the fact that the individual becoming a partner has the finances to buy into the company. A disability could really throw a wrench in the plan.
Should the person becoming a partner become disabled during the buy-in period, there could be significant problems with the completion of the deal. Without the ability to continue working, the disabled might not be able to afford to buy into a company. Unfortunately, because the disabled are not full partners at the company, a traditional buy-sell disability insurance plan will not cover him or her. In this type of situation, one of our many high-limit disability insurance policies would cover the buy-in agreement.
Buy-in Disability Insurance reassures both parties that the partnership will be completed and that the financial obligations stated in the contract will be fulfilled.
Take the Case of
Mr. E owns a successful manufacturing business. Mr. E would like to sell his business to his son, Mr. E, who has been working at the business for the last 15 years. Mr. E will buy 10% of the business each year for the next ten years just by reducing his salary by 25%.
Several problems were encountered when the producer approached his traditional disability insurance carrier. First, they did not like the idea of insuring family members in a buy-in/buy-sell situation. Second, since the buy-in was not complete, the traditional carrier would not underwrite the risk. And they did not like the fact that there was a significant age difference between the two partners. None of these issues were issues for us.
Buy-Sell Disability Insurance
Businesses with more than one owner often draw up a buyout plan should one of the owners pass away. In the event of an unexpected death, the buy/sell plan ensures the stability of the company. Unfortunately, while most people plan for an unexpected death, many overlook the possibility of an injury or sickness permanently disabling one of the partners, even though a disability is much more likely! Buy-sell disability insurance is invaluable in this type of situation; we offer many high-limit disability insurance plans designed to cover your clients and their buy/sell agreements.
Take the Case of
Mr. Boomer, age 59, considers the example of who is involved in a buy-sell agreement. As a partner, he is obligated to buy out the business interest of another partner in the event of a permanent total disability. The firm has prospered and is now worth $4 million. His share of the buyout would be $1.33 million.
When the company was new, the buyout would have been a liability of only $100,000, but even so, Disability Buy Sell was purchased. It was increased over time and now provides a benefit of $400,000. This falls short of the purchase price by almost $1 million. Not a comfortable check to write! But wait, it gets worse. Next year, the plan’s benefits start reducing by $80,000 (20%) per year over the subsequent 5-year period until it drops to zero, and then it terminates.
At a younger age, this far-off exposure created no personal alarm, for he intended to retire at age 60 or 62. His attitude has changed, and he plans to work to age 67 or 70, or maybe even 72. But the disability buy-sell continues down its eroding path.
Such a matter is easily repaired by connecting with a policy that either supplements or replaces the old-fashioned, lazy disability buy-sell plan.
For a company, the sudden disability of a partner can be more detrimental than his or her death. In some cases, the healthy partner is burdened by the disabled partner. The disabled owner, not able to productively contribute any longer (but now on the sidelines with lots of time on his hands), constantly raises concerns about how the company is being managed and suggests changes. In this case, the disabled partner is still earning a salary but not contributing positively to the company, and it would be in the company’s best interest for the healthy partner or partners to buy out their disabled partner.
Prescribing adequate amounts of disability buy-sell insurance is a perfect solution to this problem and an effective way to save the company from financial distress.
Buy-Sell PLUS Disability
Many businesses make wise preparations for the possibility of a partner becoming disabled by funding their buy/sell agreements with Buy/Sell Disability Insurance plans. Most look to insure against premature death, but a disability occurring before retirement is actually far more likely. If we look at most plan’s terms, we have to ask, “What can happen to a company’s cash flow during it’s buy/sell plan’s elimination period, which is typically 12 months or longer, while the disabled partner is unable to work?” A financial bleed can follow the loss of a key employee or principal due to a disability for many reasons.
Take the Case Of...
An electronics manufacturing corporation with two partners; Mrs. Adams, the engineer, and Mr. Johnson, the salesperson. There is a buy/sell agreement in place to protect the interest of each principal if a disability occurs. The agreement states that in the event of a partner becoming permanently and totally disabled, the remaining partner must buy out the disabled partner’s share of the company. This firm has become quite prosperous and is now worth $5 million, so rather than a principal having to write a $2.5 million check to their disabled partner, they have wisely chosen to fund the agreement with Buy/Sell Disability Insurance. They feel reassured that they have adequately protected themselves and their business.
When Mrs. Adams became disabled, this young firm fell immediately into financial distress as their product development came to a screeching halt. Mr. Johnson had to try to rework deals made with distributors and retailers in addition to trying to find and hire a replacement to keep the development side of the business moving forward. If they had only purchased a Buy/Sell PLUS disability insurance plan, the key person monthly benefit would have provided a cash flow to offset these financial setbacks.
The Buy/Sell PLUS plan alleviates the concern that this scenario presents and makes the task of buying different business coverages a much easier matter.
Our newly designed Buy/Sell PLUS plan offers the solution to this worry by providing a key person disability monthly benefit of up to $50,000 to the firm following a standard 90 day elimination period. This benefit can compensate for the business’s cash flow deficiency and can be used in any way the firm sees fit. The term of the key person portion of the policy is dependent upon the length of the buy/sell elimination period, thus the key person benefit ends when the buy/sell benefit becomes payable.
More than the combination sale of two products, the Buy/Sell PLUS plan is an amalgamation of insurance protection for both businesses and business owners over the short and long term.
Contract Guarantee Disability Insurance
Signing a contract obligates both parties to stand by their initial agreement. Unfortunately, unforeseen circumstances can inhibit people and companies from carrying out the terms of the contract. One party’s inability to fulfill the terms of the contract could mean the other party takes a huge financial loss.
Traditional contract guarantee plans may not have high enough limits to fulfill your client’s needs; our contract guarantee disability insurance will cover your clients when other disability insurance agreements fall short. Whether this contract is between a company and employee, business partners, or divorced couples, almost all contractual relationships can be considered under this disability program. Make sure your clients are safe and their financial contracts are secure with our Contract Guarantee Disability Insurance.
Take the Case of
Ms. Q, age 55, is an executive of a Fortune 500 company. She was hired at an annual salary of $600,000 plus bonus opportunities. A benefit package includes group LTD insurance to cover 65% of her base salary. She believed her bonus income was covered by the LTD. The HR Department soon found out they had a major problem with the negotiated contract. The LTD plan had a $20,000 cap and would only cover base salary. Who would make up the $12,500 per month disability coverage needed to provide 65% of income?
We have been providing adequate protection from the freezing winds of adversity for over half a century. Bringing to the purveyors of disability insurance significant and sufficient amounts of coverage.
Key Person Disability Insurance
The majority of companies have key people who are essential to the success of the business. Whether these people are valuable because of their expertise, power, innovation, or information, losing them (even temporarily) could be incredibly detrimental to a company. Key person disability insurance provides crucial benefits to protect the company financially if a key employee can no longer work due to a disability. Key person coverage provides cash flow to help companies move forward and maintain a profit if a key employee becomes disabled. In this situation, high-limit disability insurance is invaluable.
The company could use the disability benefits to hire a temporary employee should the disabled employee’s prognosis appear to be a short-term disability. In the unfortunate circumstance of a permanent disability, benefits would then be used to help defray the costs related to hiring a replacement employee, such as recruitment, training, startup, loss in revenue, and unfunded salary continuation costs.
Problems & Solutions
Problem: Over 90% of the traditional carriers do not even offer key person disability insurance in their portfolio.
Solution: Key Person Disability Insurance is alive and well.
Problem: Of the few traditional carriers that do offer key person disability coverage, the limits are modest.
Solution: We offer supplemental key person coverage for amounts of $100,000 per month or more, OR $20,000,000 lump sum or more.
Problem: Age or occupation oftentimes knocks down the ability to obtain traditional key person coverage.
Solution: Ages as high as 75 and virtually all occupations will be considered by us.
Key employees typically are those who may have important clientele relationships, hold the company’s major accounts, or know essential information that is imperative to the functioning of the business. If the key employee is totally and permanently disabled, this information may not be retrievable from the individual, leaving the company struggling to find alternate methods of recovering the information and maintaining relationships with key customers. These additional challenges become very expensive; key person disability insurance will cover them.
Loan Indemnification Disability Insurance
Oftentimes, when a bank lends money to a business, it will require the borrowers to provide disability insurance covering the payments. This ensures the bank that, should the borrower become sick or hurt, the payments will still be made. The preferred solution would be to prescribe disability insurance that would pay the monthly loan payments and/or pay off the remainder of the loan balance.
A Gateway to New Markets
Banks, credit institutions, and leasing companies are logical candidates to provide or recommend loan/lease disability insurance to benefit their clients. The logic for such firms to concern themselves about the need for loan lease disability insurance comes from the very statistics supplied by the loan industry.
- The Federal Home Loan Bank reports that over its many years, it has determined the major cause of mortgage loan foreclosures is disablement of the mortgagee: 48% vs. 3% due to death.
- It is not uncommon for the lending firm to require life insurance as a condition to make the loan. Such insurance covers the consequences created by death (3%) and leaves abandoned the greatest hazard to loan default, disability (48%).
- 67% of people who suffer heart attacks, the number one killer in America, survive. Cancer survival has reached a plateau of 56%. The greatest number of disability cases involve people aged 30-49 years of age, with the average age being 41. Consider the published observation of Selena Maranjian, who writes in The Motley Fool, “Most of us need disability insurance, yet less than 15% have it!”
- Bankers are becoming increasingly aware of the hazards to their loan repayment potential. Roughly 25% of all bankruptcies are tied to an illness or injury.
Most often, business overhead expense insurance plan benefit periods are too short to satisfy the loan requirements. Additionally, while it may be advantageous for the bank, asking an individual to assign his or her personal disability benefits to the bank would leave the insured’s family seriously vulnerable financially.
Our Loan Indemnification Disability Insurance Plan will satisfy the bank requirements. Monthly benefit periods from 1 year to 10 years are available, and there are also lump sum benefit options. The plan would be set up to mirror the loan terms with a declining benefit; this type of setup will save your clients on premium costs. Keep your clients secure with Loan Indemnification Disability Insurance.
Optional Riders of Loan Indemnification:
- Residual Disability Rider
- Flexible Interest Rate Rider
Business Overhead Insurance
Supplemental coverage * Different occupations * Medical history
When your client is unable to work due to a disability, his or her personal life will not be the only victim. Personal disability plans will keep your clients and their families living comfortably, but what will happen to their companies while your clients are unable to work? Companies need cash flow to pay the rent, keep the lights on, fulfill monthly paychecks, and take care of other necessities. If a disability keeps your client from working, his or her company could be forced to close for a short time or even permanently. Businesses that close temporarily, even for a few months, often cannot regain their footing. We offer high-limit disability insurance plans to keep your clients’ companies functioning smoothly.
Take the Case of
Dr. C is married to Dr. J. Dr. J owns the practice. Dr. C is a W-2 employee. They share the expenses of the practice equally. Traditional carriers will not offer Dr. C any overhead disability insurance because Dr. C is not an owner but an employee. This is not an issue for us. We view the case as it is and ensure the obligations of Dr. C, who, though an employee, has agreed to share the overhead costs.
In like circumstances, we also know that traditional disability carriers balk when there are multiple doctors in the same practice and they request overhead expense coverage.
We can arrange benefits of $1,000 to $100,000 per month or more, so there is no reason your clients should be underinsured.
We have designed the BOE Insurance plan to continue to pay your client’s company operating expenses during the time he or she is unable to work. If your client’s work is crucial to the company, obtaining a business overhead insurance plan is highly recommended and responsible. The plan will provide business stability during an unstable time for the company and help to reassure the company’s clients that, despite the hiccup, the company is strong and reliable. Business Overhead Insurance takes care of companies when your clients are not able to.
Optional Riders of Business Overhead Expense:
- Residual Disability Rider
- Salary Replacement Rider
Salary Continuation Disability Insurance
Some companies will write a formal salary continuation plan for their employees. This states that, in the event that an employee becomes disabled and can no longer work, the company will continue paying his or her salary.
When disability strikes, the financial consequences can be devastating. A salary continuation plan will help the disabled stay on his or her feet and provide for his or her families. However, for the company, this plan can be dangerous; paying an employee who is no longer contributing is incredibly detrimental.
Many companies involved in these kinds of contracts with their employees will indemnify this liability with Salary Continuation Disability Insurance. However, if an employee’s income exceeds the limits of the traditional markets, this can still potentially place an unrealized liability on the books of the company. Our Salary Continuation Plan is designed to solve this problem. This insurance protects the disabled employee (ensuring he or she will receive payment) as well as the company (protecting the business from taking a huge loss).
Help your clients protect their employees and themselves from unnecessary financial distress with Salary Continuation Disability Insurance.
Take the Case of
Two foreign-born doctors were in the United States on education visas while they studied in very specialized fields. They were hired by a hospital in Texas upon completion of their studies, and their visas were adjusted to work visas to reflect the change, but only for as long as they were employed by the Texas hospital.
While they had some disability insurance in place through the hospital plan, they felt they needed more disability income insurance to cover their salaries at this new employment level. These gentlemen were also concerned about what would happen to their visa status and their disability payments should they become disabled. Yes, the visas would be canceled, and the doctors would be sent back to their home countries.
The question posed was, would their disability insurance payments follow them should they have to leave the U.S.? The answer is that through the hospital’s traditional carrier’s coverage, the disability payments could not follow them outside the U.S.
We were able to solve this unique situation and put these doctors at ease regarding their income protection plan.
Severance Agreement Disability Insurance
An interesting problem develops when the termination of an employee involves a severance package, and part of that package is the requirement to continue benefits such as long-term disability insurance. The HR departments often will panic when they realize they can no longer keep the terminated employee on the group LTD plan. Unfortunately, securing an individual plan is not an available option since the person is currently unemployed. Keep your clients financially secure with one of our tailored high-limit disability plans.
Disability coverage for a terminated employee and his or her family is a high expense, and certainly not a cost the company will want to cover. When the traditional market fails to provide an acceptable solution, we can solve the problem with High Limit Disability Insurance. This type of insurance will guarantee that the long-term disability insurance plan in the severance package is upheld.
Our Severance Agreement Disability Insurance will keep the terminated employee and his family safe, as well as keep the company from a major financial loss.
Click the following image to download a real-life claim story.
Take the Case of
Mr. L, age 57, an executive of a bank, had in place a severance agreement in the event of a “change in control.” Finding his job to be redundant, the new management terminated Mr. L. Under the severance agreement, the continuation of certain benefits included that of the group LTD plan. When HR contacted the group carrier to arrange for this change, they advised that they would not be able to provide continuing coverage due to the fact that Mr. L was no longer on the payroll. The HR department then reached out to the individual market and was advised that they too could not help since Mr. L was currently unemployed.
Who could help in this tough situation? Our firm has a severance disability plan that takes care of the problem.
Athlete
Athlete Disability Insurance Plans
Athletes’ careers expose them to countless possible injuries. Additionally, the physical qualifications he or she must maintain are incredibly demanding. Athletes consistently risk injuring themselves, and, sadly, even a minor disability can be career-ending for a college or professional athlete. Because the risk is so high, traditional insurance companies usually do not underwrite disability insurance plans for athletes. We provide high-limit coverage for professional athletes as well as collegiate stars planning to play professionally against career-ending disabilities or temporary disabilities.
Student Athlete Disability Insurance
Draft Protection Insurance
A student athlete playing at the college or even high school level has a lot riding on the ability to play his or her sport. Dreams of future professional careers and signing bonuses can come crumbling down in a split second because of an injury on or off the field. For cases like this, we offer Draft Protection Disability insurance. This plan can be purchased by a student athlete who shows professional potential. In the event of a career-ending injury or permanent total disability, this plan will protect the student against a loss of future earnings as a professional athlete.
For a student athlete, disability insurance guarantees that an injury will not cause future financial losses. A third party scout will assess the student athlete and determine whether he or she demonstrates professional potential. Our sports underwriters will then establish the insured’s benefit amount. The maximum benefit amount that a player can qualify for is based on where he/she is projected to be drafted and how much that position has signed for in previous years' drafts. In the unfortunate event that the insured does become disabled, the benefit will be paid as a one-time, tax-free, lump sum.
Athletes playing at the high school or college level are exposed to countless possible injuries. Additionally, the physical qualifications they must maintain are incredibly demanding. Because the risk is so high, traditional insurance companies usually do not underwrite disability insurance plans for athletes. We provide high-limit coverage for high school and collegiate stars planning to play professionally.
For more information and answers to common questions, please download the brochure.
Pro Jockey Disability Insurance
Professional Jockey
Professional Jockey Disability Plan
Whether the client is a jockey, driver or a trainer, he/she is exposed to countless possible injuries as well as being susceptible to illnesses just like any other person. Even a minor disability will interrupt cash flow, with more serious disabilities possibly being careerending. Because the risk is so high in the industry of horse racing, traditional insurance companies typically do not underwrite these disability insurance plans. Petersen International Underwriters provides disability coverage protecting paychecks during periods of temporary disabilities or in case of permanent career-ending disabilities.
What is a Temporary Total Disability (TTD) Benefit?
Temporary Total Disability provides a monthly benefit when an accidental bodily injury (on or off the field) or sickness gives rise to the total physical inability to participate in his/her occupation. The policy will begin to pay a benefit following an elimination period and will continue to pay as long as the person remains disabled, but will in no case pay longer than the maximum benefit period purchased. Temporary Total Disability provides for quick cash flow to allow a person to maintain his/her standard of living. This benefit is available as a stand alone benefit or in conjunction with a permanent total disability benefit.
What is a Permanent Total Disability (PTD) Benefit?
Permanent Total Disability provides a lump sum benefit when an accidental bodily injury (on or off the track) or sickness causes the insured’s inability to participate in his/her occupation. Additionally, if in the opinion of a medical authority, the insured has no hope of improvement sufficient enough to ever to engage in his/ her occupational duties again a benefit will be provided. Permanent Total Disability is often referred to as “careerending disability” and is designed to replace loss of future income.
What is the Maximum TTD Benefit Available?
The level of monthly benefit is determined by underwriters who review the person’s prior income track record. Usually, the benefit is calculated at up to 65% of prior earnings. The maximum benefit periods range from one to three years.
What is the Maximum PTD Benefit Available?
The maximum lump sum is normally one to three times the insured’s annual income, up to $1,000,000 or more. However, there can be exceptions based on the person’s financial history and pattern of income.
Is the Benefit Tax Free?
The benefits paid under this plan of insurance work as with any other disability plan, i.e. if the premiums are paid with after tax dollars, then the benefit is tax free.
Is Coverage Available on and Off the Track?
Yes, coverage is 24/7 unless specifically not required. An example might be a jockey who is covered by an employer while performing employee duties might only need “off track” coverage. The plans can be tailored to fit the need so as to not duplicate coverage already in place.
What is Required for Underwriting?
The insured must complete a two page application and have a Doctor of his/her choice complete a three page physical exam. There is no blood, urine or EKG required to underwrite this coverage.
Petersen International Underwriters
Petersen International Underwriters designs, underwrites and administers its proprietary line of coverages. The security behind all risks is furnished by highly rated national and international insurers, including Lloyd’s of London. Petersen International Underwriters has been an underwriting firm since 1974. For more information visit our website at www.piu.org
Racercover Disability Insurance
What is a Temporary Total Disability (TTD) Benefit?
Temporary Total Disability provides a monthly cash benefit in the event of a disability. The disability must be a result of an accidental bodily injury (on or off the track) or sickness causing an inability to participate in the racer’s sport. The policy will begin to pay a benefit following a selected elimination period. It will continue to pay as long as the person remains disabled, but will in no case pay longer than the maximum benefit period purchased. Temporary Total Disability provides a cash flow to allow a person to maintain his/her standard of living. This benefit is available as a stand alone benefit or in conjunction with a permanent total disability benefit.
Temporary Total Disability Benefits
Benefits are payable while totally disabled following the elimination period and may be paid on the basis of:
• Weekly Benefits
• Monthly Benefits or
• Per Missed Race Benefits
Elimination Periods are available based on a selected number of days or number of missed races. The typical elimination periods are:
• 14, 30, 60, 90, 180 Days or
• 1, 2, 3, 4, 5 Missed Races
Disability benefits may be purchased for:
• Accident and Sickness
• Accident only
• 24 Hour Coverage
• While Practicing and Racing Only
What is a Permanent Total Disability (PTD) Benefit?
Permanent Total Disability provides a lump sum benefit amount if as a result of an accidental bodily injury (on or off the track) causes the inability to participate in the racer’s sport. Additionally, if in the opinion of a competent medical authority, the racer has no hope of improvement sufficient to ever recommence a career as a professional in his/her sport a benefit will be provided. Permanent Total Disability is often referred to as “career-ending disability” and is designed to replace lost future income.
Permanent Total Disability Benefits
A single lump sum benefit is paid following the elimination period provided it has been determined that recovery to the point of being able to return to the insured’s own occupation is not likely. Elimination Periods are available based on a selected number of months or races missed. The typical elimination periods are:
• 12, 18, 24 Months or
• 10, 20, 30 Missed Races
Disability benefits may be purchased for:
• Accident and Sickness
• Accident only
• 24 Hour Coverage
• While Practicing and Racing Only
Combo Coverage
If the driver selects the combination of both Temporary Total Disability and the Permanent Total Disability coverage, the elimination period for the Permanent Total Disability begins at the end of the maximum benefit period under the Temporary Total Disability coverage.
Racercover Disability Insurance
Whether your client is a Touring Pro, Club Pro or Teaching Pro, all professional golfers have the need of protecting their incomes. Countless possible injuries or illnesses can create the inability to earn a living. Even a minor disability will interrupt cash flow, with more serious disabilities possibly being career-ending. Because incomes/winnings can fluctuate and the risk is high for a professional golfer to become disabled, traditional insurance companies will not underwrite disability insurance plans for people in these occupations. Petersen International Underwriters provides disability coverage to protect an income during periods of temporary disabilities and in case of permanent career-ending disabilities.
What is a Temporary Total Disability (Ttd) Benefit?
Temporary Total Disability provides a monthly benefit if an accidental bodily injury (on or off the course) or sickness gives rise to the total physical inability to participate in the sport. The policy will begin to pay a benefit following an elimination period and will continue to pay as long as the person remains disabled, but will in no case pay longer than the maximum benefit period purchased. Temporary Total Disability provides for the quickest cash flow to allow a person to maintain his/her standard of living. This benefit is available as a stand alone benefit or in conjunction with a permanent total disability benefit.
What is a Permanent Total Disability (PTD) Benefit?
Permanent Total Disability provides a lump sum benefit if as a result of an accidental bodily injury (on or off the course) or sickness causes total physical inability to participate in the sport. Additionally, if in the opinion of a competent medical authority, the player has no hope of improvement sufficient to ever recommence a career as a professional in their sport a benefit will be provided. Permanent Total Disability is often referred to as “career-ending disability” and is designed to replace lost future income.
What is the Maximum TTD Benefit Available?
The level of monthly benefit is determined by underwriters who review the person’s prior income track record. Usually the benefit is calculated at up to 65% of prior earnings. Benefit periods range from one year to five years.
What is the Maximum PTD Benefit Available?
General guidelines are up to 3 to 10 times prior annual income. However, there can be exceptions based on the person’s financial history and pattern of income.
Is the Benefit Tax Free?
The benefits paid under this plan of insurance work as any other disability plan, i.e. if the premiums are paid with after tax dollars, then the benefit is tax free.
Can Endorsement Incomes Be Insured?
Yes, underwriters are willing to insure endorsement incomes based on the provisions of each endorsement contract.
Is Coverage Available on and Off the Golf Course?
Yes, coverage is 24/7 unless otherwise requested. An example might be a golfer who is covered by a sponsor while playing golf, but if something happens off the course, then this person will suffer financially. A plan of disability insurance to cover this person off the course only, can be arranged. The plans can be tailored to fit the need so as to not duplicate coverage already in place.
Petersen International Underwriters
Petersen International Underwriters designs, underwrites and administers its proprietary line of coverages. The security behind all risks is furnished by highly rated national and international insurers, including Lloyd’s of London. Petersen International Underwriters has been an underwriting firm since 1974. For more information visit our website www.piu.org.
