Risk Spotlight – Real Life Case

A relatively healthy 51-year-old chiropractor and business owner was seeking disability insurance to help cover his monthly office overhead expenses in case he became temporarily disabled and was unable to work for a period of time.  As he rightfully should, the client was looking for insurance in excess of his personal DI cover and was wanting to keep those benefits payable to his family without having to assign a portion to help out his business and employees.  Unfortunately, he had been previously declined by several traditional-market disability carriers because of his occupation as a chiropractor; according to disability actuarial statistics, claim volumes tend to be high amongst the chiropractic community, and those practitioners typically struggle to find carriers willing to service their insurance needs.

The chiropractor’s agent turned to Petersen International for a solution, and we were able to underwrite and issue him a renewable, own-occupation, five-year Business Overhead Expense (BOE) policy with monthly benefits of $5,000, payable for up to 12 months after a 90-day elimination period.  The coverage properly satisfied the client’s business needs, and he was able to keep his personal disability benefits intact for the protection of his family.

Petersen International has the business insurance solutions your clients need for most occupations and hard-to-place cases.