Unique Situations with Easy Solutions Part 1

Take the case of…

A Medical Management firm that has over 300 Emergency Physicians under contract. Since the doctors are 1099 contractors and not W-2 employees, the traditional group disability carriers would not offer them coverage. With a 90 day enrollment period, through Petersen International Underwriters, a voluntary program was offered. There was a 30% take-up achieved, allowing for a guaranteed issue multi-life plan with an annual premium stream of $67,000 with a commission to the producer of $10,050.

These types of cases can be arranged on a mandatory or voluntary basis, with guaranteed issue. It can be on a group or multi-life basis, with a list or direct bill, as well.


Take the case of…

A very large insurance company was preparing a new multi-million dollar television advertising campaign. The campaign involved a new spokesperson who was to convey trust and confidence for this insurance institution. The concerns were: 1) What if the spokesperson was to die during the campaign; 2) What if the spokesperson was to become disabled during the campaign; or 3) What if the spokesperson was to fall out of grace as a result of an unlawful or immoral character act?

An Insurance policy was built to cover Death, Disability, and Disgrace. This would allow the insurance company to recuperate its costs of the advertising campaign.

Benefit: $20,000,000
Annual Premium: $250,000
Commission to Producer: $37,500