What Our Medical Field Clients Have To Say
Dr. Rene Aviles on Disability Income policies
Dr. Joseph Taub on Disability Income policies
Dr. James Horan on Disability Income policies
Other Professionals:
Dr. Rosie Aviles on Disability Income policies
Gery Rodriguez on Disability Income policies
Theresa Minnis on Disability Income policies
How to design the policy that’s right for me?
Discounted rates are available through different organizations, associations and hospitals that you could be eligible for.
See if you qualify by emailing us your affiliations and start saving!
Who needs it?
- Virtually everyone with earned income needs it. 90% of disabilities will be illness related vs. 10% resulting from injury: Migraine headaches, chronic back pain, depression, stroke, heart attack, cancer, etc. More importantly, 1 in 4 people will be come disabled before age 65.
What’s important to know?
- While many rely on government benefits, they overlook the fact that many disabilities are NOT related to work, so worker’s compensation may not apply. Some rely on coverage from their employer. It’s a good start, but there are limitations in benefits, including tax liability. Individual coverage helps fill in the gap.
“Applying is such a long process; I don’t know when I’ll have time. I can always do it next year.”
- Applying for DI is NOT a difficult task, and it doesn’t take much of your time. Actually, applying for a mortgage loan takes longer, and you still go through it.
- If you’re working with an experienced agent and you’ve provided all the necessary documentation, the process can be a very simple one. To get an application process going you must do the basic “Keaney Tres Pasos”:
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- Complete and Sign an application (paper or online format available)
- Complete a 30min Paramedical Exam
- Provide us with the 2 most recent tax returns.
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“If I become disabled, then my partner(s) would just buy me out.”
Most buy-sell agreements have funding and clauses in place in the event of a partner’s death. But what most of them DON’T is disability buy-sell insurance. Partners often overlook the fact that death alone isn’t the only unexpected cause of dissolution. And while most protect their income at the individual level, some forget to protect the interest of the partnership at the business level. We don’t. We can help!
“There’s government help, and I also have benefits through work. I don’t need my own disability policy.”
- Social Security- The average monthly SSDI benefit is $1,100.
- Savings & Investments- If you currently save 10% of your income per year, one year of disability (without a Disability Insurance policy) could use up to 10 years of savings and investments
- Group Disability benefits from work- Benefits are often taxable, which means you receive less. Many programs cover the base salary only and have a cap on benefits.
- Bank Loan- What bank will lend you funds if you’re unable to earn a living? How would you pay the debt service if you remain disabled?
- Friends & Family- They may be willing to “chip in”, but their resources may be limited.
- Spouse’s income- Can your spouse work, care for you and manage the household altogether?
“It seems expensive. I could just save an equal amount to the premium in a savings account and self-insure.”
- True. You can. However, you only get what you’re able to save, and being that disability is an unpredictable event, will you have enough to last you as long as your disability does and still have funds for your survivors after you?
- Think differently:
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- Consider a position offering you a base salary of $350,000 p/y with no Long Term Disability benefits.
- Now consider the same hospital offering you a reduced salary of $343,000 p/y but with a Long Term Disability benefit that ensures you would receive 60% of your pay even if you couldn’t go back work due to disability.
- Is it not worth 2% of your pay to ensure you can continue to receive 60% of it if you can’t perform the duties of your specialty?
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