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Consultants are busy – and busy professionals work hard to advance to the positions they’ve earned. This is precisely why it’s so important that you, as a consultant, protect your career, your family, and your finances with disability insurance for consultants.
This type of coverage is the best way to secure an alternate means of income in the event that you become disabled or injured to the extent that you are unable to perform the duties of your consultant position. The statistical probability that you will become unable to work in your occupation is higher than you might think: According to the Council for Disability Awareness, 25% of today’s 20-year-olds will become disabled before they retire. Protect your hard-earned lifestyle with the right insurance. LifeInsure.com can help you find it.
Imagine how your world would change if you suddenly were unable to work as a consultant. If that time should come, would you have enough in your savings to maintain your lifestyle for 34 months (the length of the average long-term disability claim)? What about the fine print? There are many options, riders, stipulations, and details you need to be familiar with to make sure you and your family are covered sufficiently.
One of the most important components of a sound policy is the “own occupation” definition of disability, as opposed to an “any occupation” definition. When you’ve worked so hard to accomplish all you have, you want to ensure that your policy benefits will cover you if you cannot work in your own occupation – not just any occupation. For example, if you’re not able to work as a consultant, but could still do a desk job making a fraction of the salary you’re used to, “any occupation” coverage would not pay you benefits. If you had “own occupation” coverage, however, it would, because even though you can work in another occupation, you can no longer do so in your own.
There are diverse ways that claims are paid depending on various policies and companies, so be sure that you consider them when you are obtaining disability insurance quotes. In addition, you’ll want a policy that covers income during your recovery period, but stay away from those that only define residual disability as loss of time or duties.
Intramark Insurance Services can help you understand your needs, your options, and what all the definitions mean including the riders, base coverages, add-ons, and details. Don’t wait another day to obtain your free, no-obligation disability insurance for consultants quotes now.