Key Person Disability Insurance provides crucial benefits for any functioning business in order to protect the company from financial hardship that may result from the loss of a key employee due to disability. Key Person coverage provides cash flow to help a company move forward and maintain a profit in the event that a key employee becomes disabled… Learn More
Take the case of… a famous Clothing Manufacturing Company. International employees coming to the United States for business training caused concerns for the HR Department for the lack of medical insurance during their stay in the U.S. The solution was to place an International Major Medical Plan in force and provide for an easy reporting system so that any time a non-U…
In a high limit disability contract, terms and definitions are critical. Here are a few of the important ones that you should be familiar with: Own Occupation – does it recognize Specialties and Subspecialties? What is the definition of Total Disability? Does it use the words “first manifest” as opposed to “first diagnosed”? Is it […]
Take the case of …An entertainer has agreed to lease for 12 months a private jet. This provides him with the ability to do his live concert tour with the most convenience. The leasing company realized that it would be prudent to require life and disability insurance to indemnify this lease… Learn More
Two basic issues for Personal Disability Insurance that Petersen International Unederwriters deals with daily are Supplemental Coverage and Primary Coverage.Supplemental disability insurance provides the solution to the under insured. The rule for personal coverage is that unless an income earner has 65% to 75% of his/her income protected against a disability, that person will eventually die a financial death when disability strikes… Learn More
Take the case of… Dr. D, Radiologist, age 43, income of $350,000.Traditional carriers maxed out at $10,000 per month. This only covered 34% of his income.Petersen International Underwriters provided an additional $9,000 per month bringing his level of coverage to 65% replacement…
Our industry teaches us that for personal income replacement the answer is 65% – 75% of income. This understanding is seconded by third party resources such as the U.S. Labor Department, concluding the same percentage of replacement is required; and an independent survey by U…
Take the case of… an ordinary businessman with a wife and three children. He is a successful businessman with an annual income of $200,000. Although he has the maximum monthly disability benefit available of $8,000, it is not enough to cover his mortgage and the private education tuition for his three children…
Take the case of… Captain F who is a corporate pilot with plenty to lose should he not be able to fly. Not many Disability carriers are able to consider this occupation…
That’s right! The Bridge Plan is now guaranteed to renew for up to 5 years. Petersen International Underwriters is now going to waive the renewal underwriting on new fully underwritten policies being issued. By simply paying the renewal premium the coverage will automatically renew without showing insurability…