Unique Situations with Easy Solutions Part 2

Take the case of…

A law firm with 160 senior partners. The lowest income of these partners was $1,500,000. The group disability plan was a strong one with maximum monthly benefits of $35,000. This covered only 28% of the monthly income of the lowest paid partner. This was not nearly enough. Management decided to secure a minimum of 65% of income replacement to a maximum of $100,000 per month. On a mandatory plan, an additional $65,000 per month in benefits was obtained.

Annual Premium: $736,000
Commission to Producer: $110,400

Take the case of…

A seventeen year old actor, who just signed a multi-year contract with a major entertainment firm. The business manager rightfully advised the need for disability coverage to protect this contract for his client. The problems are somewhat obvious; 1) The young age of the actor; 2) No real track record of income for the actor; 3) the occupation itself. Traditional disability carriers would not be able to solve this type of need. Solutions to problem cases like this can be found at Petersen International Underwriters.