Life Happens – Be Prepared – Part 5 of a 12 part series
Posted by Dimmitt Insurance on
Disability Insurance for High Income Earners
Are you a doctor, lawyer, or other well-paid professional? If so, your needs for disability insurance are the same as anyone else. However, trying to get by on a traditional policy simply may not help. As a high income earner, you need disability insurance designed to address the amount of income you earn, and your financial needs.
Accidents and Injuries Can Happen to Anyone
What happens if you are unable to work for three months? What about six months? During this timeframe, your debts continue to be due. You still have to pay taxes on your home and cover your child’s tuition. But, a traditional disability insurance policy will only provide minimum coverage. It may not even pay your mortgage payment. That’s a costly problem.
That’s why it is essential to choose high earners income replacement disability insurance. It offers some key benefits that can help you to protect your family if you are unable to work for a time period.
Traditional policies have issue limits. This doesn’t allow you to purchase enough coverage to replace most of your income should you need to do so.
With high income coverage, you can continue the same lifestyle that you have been – you don’t have to risk losing your home.
This type of policy allows you to increase the amount of disability insurance you receive, up to a limit that fits your specific goals.
It’s that simple. If you are a high income earner, a disability insurance policy that doesn’t cover these needs leaves you at risk. To avoid that, work with a specialized independent insurance agent to find a policy that lets you be in charge of the protections you put in place for your family.
Keep in mind that, for some, a traditional disability insurance policy is enough. For others, topping up that policy with a higher level of coverage is the only way to safeguard your family’s finances. At Dimmitt Insurance, we can help you to find the policy to let you do this. Contact us right now for a free, no obligation quote on high income earner disability insurance: 866-763-6627.