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Disability Insurance for Sales Professionals
We understand the
sales profession; after all, we are in
sales as well. Allow us to explain to you why individual disability
insurance offered by Berkshire is one of the strongest contracts
you can own. As a salesperson, you eat what you kill,
and your income is based on your ability to close
the deal. With disability insurance, the two most
common ways you can receive a claim are for total
and residual disabilities. A total disability is obvious;
we pay you the total monthly benefit if a sickness
or injury prevents you from performing the material
and substantial duties of your regular occupation.
A residual disability is where we truly excel
for people in the sales arena.Call 888-513-2300
If you are residually (partially) disabled,
Berkshire's contract only
requires a loss of income solely due to sickness or injury,
it does not require
a loss of time or duties
to collect benefits. There
is a basic scenario we
like to point out to sales
people shopping for disability
insurance.
Let's assume
you were totally disabled for eight months,
and then miraculously recover
one day and are back to
work full time.
With a residual disability
rider you would continue
to receive benefits up to the Benefit Period until your income recovers
as well, even though there
is no longer a loss of
time or duties.
A carrier that had those
requirements would not
pay you a residual claim;
they may only pay a small
recovery benefit. How
long would it take you
to achieve
your pre-disability earnings again? You
have to go out, network,
make sales, process the
sales, and get paid on
it. Isn't it possible that
although the total disability
was eight months, that
the residual disability
could be even longer before
you are financially
back on track? Important Provisions Within A Disability Insurance Contract For Sales Professionals Non-Cancellable & Guaranteed Renewable- This definition is vital for the sales profession, if a policy is Non-Cancellable, than the insurance company can not change the monthly benefit, or the contract as long as you pay the premium. We understand that your income is not always a constant. It can fluctuate from month to month, or from year to year. Once we have underwritten you, even if you earn less money the next year, we cannot change your monthly benefit. We have to pay you your total monthly benefit should you become totally disabled. Call 888-513-2300
True Own-Occupation Definition of Total Disability- Have you ever changed industries? Ever changed jobs? The key point to this definition is that it will provide you with coverage if a disability prevents you from doing the occupation you were engaged in at the time you become disabled, even if you are able to work in a new capacity. This is a truly powerful definition of total disability. Definition of Residual Disability- As in the scenario above, it is the definition of residual disability that allows us to pay you while you work to recover your lost income. There are two major types of residual disability coverage in today's insurance market. One pays you based upon a loss of time and duties, and Berkshire pays you based upon a loss of income. If you had a disability insurance policy that only paid you based upon loss of time and duties, it would have stopped paying you when you went back to work full time. It is vital to have a residual disability definition that is based upon income so that you continue to get paid while you rebuild your business. |
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| Financial Balance Group LLC is a general agency of The Guardian Life Insurance Company of America, NY, NY. Guardian Disability Insurance Brokerage is the
brokerage arm of Financial Balance Group LLC. Disability insurance agent information provided on this web site is for broker use only. For important information about the disability insurance products and insurers discussed on this page, as well as information concerning Guardian Disability Insurance Brokerage or the General Agency representing Guardian, please click here. Copyright Steven L. Crawford (General Agent). |
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