What is a Great Co for DI Insurance

[Death Cab For Tootie]

For white collar, look for contracts that are Guaranteed Non-Cancellable. In other words, once a policy is delivered and is continued to be paid on, the insurance company cannot cancel the policy for any reason. Also, for your advanced degreed profession (doctor, attorney, CPA), look for "own-occupation" verbage. This means that, if the client is not able to do the material duties of their own occupation, a claim is paid. Guardian is THE leader in the high-income, white-collar. Highest limits, broadest definition of disability, this is what you should look for before Met and Principal. Also, take a look at Mass Mutual - they have a very good contract, offer own-occ as a rider and have recently increased their I&P limits on many occ classes.

Blue and grey collar are a crapshoot. It all depends on the insured's occupation and income. Assurity, Met, Principal, Illinois Mutual, Lloyd's of London can all fit depending on the situation.

 

[insurancemet]

What would you consider a sales person for a waste management company? Is that white collar?

 

[wibroker]

Sales should be a "white collar" class. Class will be determined by income (the higher earners get a better class).

Idea for you - if he is an owner or relative of the owner, as is often the case in smaller business, you can run this through the corp, have them pay the premium and its deductible to the business. Benefits become taxable interest if he goes on claim, but carriers will offer higher limits for that to offset the tax. This strategy often is attractive to the business.