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This section is for a specific problem many IT consultants face when applying for disability insurance... for general information about disability insurance for consultants please go to independent consultants, business owners, or about disability insurance.
As a consultant 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. Berkshire can replace anywhere from 50-60% of your income on a tax free basis should a disability strike.
Working from home does not eliminate you from coverage with the disability insurance company. Many insurance carriers will not cover people who work from their home office. The reason that many carriers have a problem with this has to do with claims. An insurance company has to be able to follow up a claim, they have no way of knowing if a person is unable to perform their job duties if they work from their home full time. Berkshire Life Insurance Company of America has made it possible for certain occupations to still obtain coverage if their home is also their office. They will offer disability insurance coverage as long as:
- you have frequent, necessary contact with clients and the success of your business depends on that contact
- you are self-employed for at least 12 months prior to application
- you have a personal earned income, with financial documentation, of at least $35,000
- not more than 20% of your time is devoted to telephone sales or service
The higher the percentage of time spent working outside of the home, the longer the benefit period available becomes. Usually if at least 50% of your time is spent in client's offices, or on location, we can offer a full benefit period to age 65.
The majority of consultants we deal with have fallen into our occupational classes 5 and 4. This means a superior rate for your insurance coverage, and the most liberal benefits available from Berkshire. To receive a quote from us simply click here and fill out a quote request form. We don't share our information with anybody, so make certain the form is completely filled out. We need everything on it to do a quote.
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