Disability Income Insurance
In the event of an unexpected illness or injury that prevents you from earning an income, disability income insurance - either a group or individual policy - can help by replacing a portion of your income to help meet expenses during that disability.
Options that may be available with a disability income insurance policy:
- Inflation protection
- Ability to increase benefit amount with no additional medical underwriting
- Benefits paid for a partial disability
- Protection for retirement contributions
- Catastrophic disability income benefit
- Paying the operating expenses of the business
- Funding partnership buyouts
- Replacing lost earnings of a partner/owner or an employee on a tax-advantaged basis to the business
- Providing return-to-work benefits to a partner/owner or his or her employees
- Protecting and maintaining retirement contributions of a partner/owner or of an employee
- Premium discount - 10%
- “Modified own occupation” or “own occupation” definition of disability
- Guaranteed level premiums to age 65
- Non-cancelable (premiums and benefits stated in the policy cannot be changed as long as premiums are paid on time)
- Guaranteed renewable coverage
Not a MSBA YL member?
Not a BABC YLD member?
To speak to a licensed insurance representative email Danielle Kirschner, CFBS or call 516-408-5635