Private (Individual) Disability Policies

If you are a professional in your own practice or a business owner, you do or should invest in a private (individual) disability policy to protect yourself and your family in the event you ever experience a disability that prevents you from working in your chosen field.  However, not all private (individual) disability policies are created equal.  Much depends upon the type of policy you purchase and the insurance carrier you purchase it from.

Too many of our clients either do not fully understand their disability coverage, do not read it thoroughly enough, or do not review it periodically for changes in eligibility or limitations.  As a result, when they become disabled, they are surprised at the coverage they don’t really have.  It happens time and time again.

Here are some things to consider:

  1. Ask yourself whether you need private (individual) disability insurance.
  2. If you already have private (individual) disability insurance, make sure to read it carefully (especially the fine print).
  3. When purchasing private (individual) disability insurance, make sure you have the right coverage as well as the right amount of coverage.
  4. Always plan ahead; keep your changing personal and professional needs in mind.
  5. Consider purchasing a Premium Waiver Benefit on your Life Insurance Policy. This means that your Life Insurance Policy will continue to cover you at no charge during your disability.
  6. Consider purchasing a Business Overhead Policy.  A Business Overhead Policy will cover your business expenses such as rent/mortgage, salaries, equipment, etc., during the time of your disability.
  7. Review your policy (or policies) regularly.

The attorneys at DeHaan Busse LLP focus on private (individual) disability policies, and are available to you for a consultation.

Click for a free case evaluation.   Phone: 631-582-1200

Bookmark and Share
  • FERS Question of the Week

    QUESTION: Can I change my retirement status to disability retirement?

    ANSWER: Yes, but you must have become disabled while working for the federal government. Both you and your employer will be required to submit evidence to support this. Additionally, you both will be required to prove that your disability impaired your ability to work effectively in our position, and you must not have turned down reassignment in the same commuting area at the same pay grade, tenure or pay level.

  • Follow us on Twitter

  • RSS DB Disability Blog

    • Why Disabled Clients Should Worry About "Independent" (Insurance) Medical Exams (IME's) February 3, 2010
      If you become disabled, one of the things the insurance carrier may demand is that you submit to an Independent Medical Exam, or IME. Most people assume that this examination is impartial because the word independent is used in the title. However, that could not be further from the truth. In fact, it would be a lot more accurate to call the exam an Insurance […]