Guardian Disability Insurance Brokerage

Disability Insurance For Home Based Businesses

Why Home Based Business Owners Need Personal Disability Insurance?

Disability Insurance Quote Gender: View All Male Female Age: View All 25-30 31-35 36-40 41-45 46-50 51-55 Monthly Benefit Amount: View All $0-$1,000 - (Income needed: $ 18,000) $1,000-$2,000 - (Income needed: $ 34,000) $2,000-$3,000 - (Income needed: $ 52,500) $3,000-$4,000 - (Income needed: $ 75,000) $4,000-$5,000 - (Income needed: $100,000) $5,000-$6,000 - (Income needed: $124,500) $6,000-$7,000 - (Income needed: $148,500) $7,000-$8,000 - (Income needed: $171,500) $8,000-$9,000 - (Income needed: $196,500) $9,000-$10,000 - (Income needed: $220,000) $10,000-$11,000 - (Income needed: $243,500) $11,000-$12,000 - (Income needed: $266,500) $12,000-$13,000 - (Income needed: $290,000) $13,000-$14,000 - (Income needed: $312,500) $14,000-$15,000 - (Income needed: $348,000) $15,000-$16,000 - (Income needed: $408,000) $16,000-$17,000 - (Income needed: $475,000) Our agents have 231 Business Owner Clients

As a home based business owner you have one concern that people who work for a firm don't have to deal with. You have to provide your own benefits. Individual disability insurance is the only way that you can protect your income should you become sick or hurt, and unable to earn an income performing the duties of your normal occupation. Berkshire can replace anywhere from 50-60% of your income on a tax-free basis⁴ should a disability happen.

Many major disability insurance companies do not offer individual policies to people who have a home based business. It is very difficult to determine at claim time what material and substantial duties of your regular occupation can, and cannot be performed when somebody works from their home. Berkshire has home based business guidelines, whereby assuming you meet their guidelines, you have the opportunity to obtain one of the most comprehensive individual disability insurance policies on the market today, ProVider Plus.

Disability Insurance Quotes Call 888-513-2300

Most Common Optional Riders1 for Business Owner Clients Based Upon the Age, Gender, & Benefit Amount Selected Above 1. Residual Disability Benefit Rider This rider provides a benefit when solely due to sickness or injury‚ you suffer a loss of 15% or more of your income. There is no loss of time or duties requirement. This rider also has a recovery provision whereby‚ if you recover and return to work but still suffer a loss of income of at least 15% of your prior income‚ you will continue to be eligible for this benefit for the full duration of the benefit period. Most agents feel this is a must have rider on every policy. 88.31% 2. Future Increase Option Rider This option allows consumers the ability to obtain additional disability coverage in the future regardless of any adverse changes in their health. Many people believe that their incomes will continue to rise over the years‚ and this rider allows you to buy more disability insurance coverage in the future each year on the policy's anniversary up to and including age 55. The rider also includes special option dates that allow off-anniversary increases for events such as the loss of group long term disability coverage. While medical information is not required when exercising this option‚ applications to exercise this option will be financially underwritten taking into consideration both current income and all other disability insurance in force for the insured has applied or is eligible to receive. 67.53% 3. 3% Compound Cost of Living Adjustment (COLA) Rider2 Cost of Living Adjustment rider will increase your total monthly benefit every month you are on claim up to 3% after you have been disabled for 12 months. 50.65% 4. Social Insurance Substitute Rider This is a monthly benefit that coordinates with payments received from the Social Security Administration ('SSA') for a disability‚ as well as other similar government programs. If you receive Social Security Disability Insurance‚ the insurance company will reduce the amount of benefits payable under this rider dollar for dollar from $200 to $1‚500 . This rider is often purchased to reduce the total cost of coverage‚ while helping assure an adequate level of disability protection. 10.39% 5. Automatic Benefit Enhancement Rider This rider is at no cost‚ and will increase your monthly benefits by 4% every year for six years‚ with no proof of income. While the rider itself is provided at no cost‚ additional premiums are required... for coverage added by the rider. 9.96% 6. Catastrophic Disability Benefit Rider This rider provides additional benefits to you should the disability be so severe that is causes you to be unable to perform 2 or more of the Activities of Daily Living including: bathing‚ dressing‚ eating‚ transferring‚ toileting‚ or continence or you suffer a cognitive impairment requiring substantial supervision. 9.96% 7. 4-Year Delayed COLA Rider2 This Cost of Living Adjustment (COLA) rider will help to increase benefits during a claim. The 4-Year Delayed option is less expensive than a normal 3% COLA rider because you are essentially self insuring the first 4 years of COLA increases during a claim. 9.09% 8. 6% Compound Cost of Living Adjustment (COLA) Rider2 Cost of Living Adjustment rider will increase your total monthly benefit every month you are on claim up to 6% after you have been disabled for 12 months. 3.90% 9. Retirement Protection Plus Disability Benefit Rider3 This rider provides an additional benefit when you are totally disabled and not gainfully employed. It is designed to help replace contributions made to defined contribution retirement plans by you and your employer. The RPP monthly indemnity will be paid to the trust for you while you are totally disabled and not gainfully employed. This is not a pension plan or a substitute for one. 2.60% 10. Unemployment Waiver of Premium Rider An inexpensive rider that waives the premiums for your DI policy for up to one year should you be on unemployment and receive unemployment compensation for at least 60 consecutive days. 2.16%

Program Guidelines To Qualify As A Home Based Business

This program is intended for home based business owners in some occupations who do not have to leave their home on a regular basis or have clients come to their home to conduct business. If you do have a home based business, but have to leave your home regularly, or do not have clients come to your home, you may be able to obtain a disability insurance policy the same way anybody else does now. These guidelines are just for people who don't have to leave their home to work.

The minimum policy size is $1,000, and Berkshire will issue up to $10,000 per month (excluding CA & FL) for somebody who has a home based business. You have the option to add the following optional riders¹ to your policy as well; Cost of Living Adjustment Riders, Future Increase Option Rider, Social Insurance Substitute Rider, Automatic Benefit Enhancement Rider and Catastrophic Disability Benefit Rider.

All applicants must show at least three years of earnings pattern on the application and submit normal financial requirements. You will also need to be under contract to perform in an appropriate business relationship and the contract will need to be provided for review.

While many other individual disability insurance carriers will not offer a policy to a home based business owner, Berkshire does make one of the industry's leading DI policies available assuming you qualify based upon the above criteria. When you request a quote from our website make sure to indicate that you are a home based business owner so the proposal we email you is accurate.

Disability Insurance Quotes Call 888-513-2300