You’ve worked hard to build a successful career in your chosen occupation over the years. The best way to make sure you’ll continue to benefit from the fruits of your labors no matter what the future might hold is to protect your income with a top quality professional disability insurance policy. Make sure you choose a policy that covers both partial and total disabilities and that determines benefits based on earnings rather than on your ability to work.
No matter how well you are doing in your chosen profession, your income will suffer if you become unable to work, or are forced to work a reduced schedule, due to a disability. Whether you experience a total or partial disability that is temporary or permanent, the only way to make sure your income is protected is with a top quality disability insurance policy that takes into consideration how your income is generated.
Following a disability, it can take a significant length of time for professionals’ incomes to recover, no matter how much time they put in on the job. When your income is based on performance and production rather than on the number of hours worked, a policy that pays benefits only until you can return to your regular work schedule is not sufficient.
The best disability coverage for most professionals includes a residual rider that provides income recovery benefits rather than one that pays only until you’re able to return to a full work schedule with regular duties. With this type of coverage, you’ll receive benefits following a decline in income from a qualifying disability until your earnings recover.
Having this type of small business disability insurance in place can mean the difference between staying in business and declaring bankruptcy following a disability. When you want to make sure that your business can keep going no matter what, business overhead disability coverage is an excellent investment.