P&C Agent needs recommendations for personal disability insurance please

[Strategy101]

Hello All,

I am embarking on a journey as a self-employed person which is very new to me. Up until last year, I have always been employed by large corporations so I haven't had to worry about disability or medical insurance as it was always provided through my employers. Now that I am starting a p&c agency, I am concerned about my income if something were to happen to me, I would love if y'all could give me some recommendations for companies with the best rates for a self-employed person who has no health issues.

I recall the disability plans through my previous employers was about 60% of my annual salary. How will my current salary be determined for purposes of calculating my monthly benefit amount if I am newly self-employed and do not have an income history?

Thank you

 

[DI Guy]

As a P&C broker you may be able to write yourself and save some expense.
Try a national IDI MGA like Disability Insurance Services. An independent MGA will help you choose from many carriers and get the best coverage for your budget.

 

[UncappedIULforYou]

Hello All,

I am embarking on a journey as a self-employed person which is very new to me. Up until last year, I have always been employed by large corporations so I haven't had to worry about disability or medical insurance as it was always provided through my employers. Now that I am starting a p&c agency, I am concerned about my income if something were to happen to me, I would love if y'all could give me some recommendations for companies with the best rates for a self-employed person who has no health issues.

I recall the disability plans through my previous employers was about 60% of my annual salary. How will my current salary be determined for purposes of calculating my monthly benefit amount if I am newly self-employed and do not have an income history?

Thank you

Assurity is my go to. You can customize practically everything about it. However you need to be in business for a bit longer if you're self employed. You do however get a boost to the amount they will insure your for by 10% for being a business owner.

 

[UncappedIULforYou]

Elimination periods vary from 30 days to 365 days and benefits from 1 year to till age 67.

EDIT: Here's a sample policy https://assurelink.assurity.com/Ass...dividual_Disability Income_CenturyPlus_DI.pdf

Also make sure you get the "Own Occupation Rider"

No matter where you go.

 

[Strategy101]

Elimination periods vary from 30 days to 365 days and benefits from 1 year to till age 67.

Good info. I had recently been thinking about this, again, so thanks for this. I'll be looking into it soon.