Individual Disability Insurance

Personal Disability Income is important for businesswoman.  It is recommended that group and/or individual protection is acquired.  If you are an executive, it is recommended to get a plan under a group.  Only 43% of large companies provide extended disability plans. 

For small companies, those odds lessen even more.  An employer typically offers a more affordable Individual policy for disability.  Employers typically provide such policies without pre-existing conditions or medical exams.  A smaller company may not tend to offer this, so an individual plan would be recommended.

Some companies don’t offer everything you may need in an individual disability insurance policy. In this case, it is recommended that one would supplement a group plan just to be sure.  Consider reviewing your group policy if you have one.  Look into the life of the plan, the amount in benefit and if it includes 1099 and bonus earnings.  Lastly, can you take the plan with you if you are no longer with the group.

Typically, the protection commences one to six months after your employment ends.  Most last for years and/or even to retirement.