For many business owners, doctors, attorneys, and executives, a typical group disability plan does not adequately protect their
income and lifestyle due to the lower monthly payout caps.
Most group plans have a 60% Income Protection Cap up to a maximum of $10,000 / month. For some doctors and others with certain plans, this monthly cap may even increase to $20,000/month.
As an example, if a Doctor or Executive makes $200,000 / yr the monthly limit ($10,000) will adequately protect 60% of their income. However, this percentage drastically falls as their income climbs over $200,000 / yr. As such, if the Doctor makes $400,000 / yr then the group disability plan covers only 30% of their income. In addition, K1 earnings are NOT usually protected in group disability plans.
For high income earners (those making more than $250,000 annually) we can help fill in the Disability Protection Gaps. Our insurance partners customize their policies to fit your specific needs. Whether you are Self-Employed, an Independent Contractor, Business Owner, Doctor, Professional Athlete, Executive, Attorney, or just an Employee, we can fill your protection holes.
Guaranteed Issue Excess Disability Insurance (as an Employer Carve-Out, Voluntary Buy-Up, or Hybrid)
High Limit Disability Insurance (for Self-Employed and Executives)
Key Person Disability Insurance
Specialty Disability Insurance Plans for Physicians & Surgeons
Please contact us to discuss your specific situation and objectives.
Please note, all concepts, strategies, and products mentioned may not be suitable for you or your company. Information provided is not intended to be legal or tax advice. Please consult with your tax and legal advisor for specific tax and legal questions.