Disability Insurance

A proactive approach to planning for a myriad of known and unknown events can protect your financial legacy and prepare you and your family for a seamless transition.

BKS works with entrepreneurs, businesses, families and individuals to design, procure and implement disability strategies to protect against the loss of income and assets.

Disability Income Insurance

Would you be able to take care of your family and pay your bills if you were sick or injured and unable to work? Do you know how much money would be coming in each month—and from where—in the event of a disability?

The total from your employer benefits, Social Security and other programs, along with your own resources, may not be close to your pre-disability, after-tax income. It may not be enough to support your family. Disability income insurance can make up that difference. It can help pay regular monthly bills while you are recovering, but still unable to do your job.

BKS Partners will find the policy that best aligns with your present and future financial goals and answers these important questions:

  1. How is disability defined? Is it defined as the inability to perform your own job, or inability to do any job?
  2. Does the policy only cover disability from accidents, or both accidents and illness?
  3. Are benefits available for partial or residual disability, as well as for total disability?
  4. Are full benefits paid, whether or not you are able to work, for loss of sight, loss of hearing or loss of limbs?
  5. The maximum benefit will replace what percentage of income?
  6. Is the policy non-cancelable, guaranteed renewable or conditionally renewable?
  7. How long must you be disabled before premiums are waived?
  8. Is there an option to buy additional coverage, without undergoing additional medical tests or examinations?
  9. Does the policy offer an inflation adjustment feature? If so, what is the rate of inflation? Is there a maximum?

Disability insurance is particularly important if you own a small business. In addition to standard disability income replacement, business protection is also available. There are recovery benefits that pay after you return to work full-time. These apply during the period in which you are re-establishing a customer or client base. For jointly owned businesses, there is a disability buy-out policy that provides funds for one partner (or the business entity) to buy a disabled partner’s share of the business.

Ensure your protection is as distinctive as you are.

Get in contact with an advisor today to see how BKS can support you.