Risk Spotlight – Real Life Case
A veterinary practice was seeking key person disability insurance on their head small animal vet. She runs the clinic, is 53 years old and is in great health. Her salary is $150,000 a year, and the partners of the practice felt some additional business insurance on her ability to work was quite prudent considering she is the face of the flourishing endeavor and is responsible for much of the incoming new business.
Petersen International was able to underwrite and issue key person disability coverage on her with a five-year, renewable policy term and monthly benefits of $18,750 per month with a 12-month benefit period after a 30-day elimination period. We also included a partial disability rider, and were able to indemnify up to 150% of her income to provide much needed capital in case she couldn’t work part or full time due to an illness or injury.
Petersen International has the financial solutions your business clients need.