For people who work in front of the camera, "looks" can be a job requirement. Becoming disfigured could affect their employment and potentially end their career. This kind of risk can be insured with the addition of a "disfigurement" rider to their disability policy.
Entertainment Industry Disability Insurance Plan
For your clients working in the entertainment industry, Petersen International Underwriters has developed the Entertainment Industry Disability Insurance Plan. The Entertainment Industry provides challenges for traditional disability insurance carriers because today’s popular entertainers can be tomorrow’s old news. Traditional Insurance carriers may refuse to insure those working in the Entertainment Industry as their incomes are not always fixed.
Take The Case Of...
So many case studies for the entertainment industry involve the cocktail party stories of big names with big incomes. Petersen International Underwriters does indeed write jumbo size cases for the entertainment industry, however the thousands of people who earn a good living in the entertainment business but whose names are not recognized by the general public, yet the traditional disability markets still tend to frown on these occupations and not offer any disability coverage.
Bill M, a 38 year old voice actor. Bill earns $125,000 annually doing commercial voice overs. Like most people he has to get up in the morning and report to work. This might be an audition, or an actual studio session. His income supports his family of three, a nice home and two newer automobiles. A disability would cause major financial hardships. Petersen International Underwriters offered this income earner a disability plan that would replace 65% of his income even though his occupation was that of a voice actor.
This industry is a broad one; PIU’s Entertainment Industry Disability Insurance Plan was developed to provide actors, musicians, writers, producers, directors, stunt people and many other people working in entertainment, with the coverage they require. This plan covers them all and allows you to prescribe adequate levels of income replacement in the event that a disability leaves them unable to work. This plan can provide monthly benefits from $1,000 to $100,000 or more and offers lump sum benefits of $50,000,000 or more.
For highly compensated employees sufficient amounts of disability insurance are incredibly important, though difficult to obtain; however this plan is not only for your highly compensated clients working in the Entertainment Industry but also for the thousands of people that work hard to produce entertainment including the drivers, gaffers, movers and set people. Make sure all of your clients are protected from the financial ruin a disability could bring with the Entertainment Industry Disability Insurance Plan.