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Jeff Pennington

Consultants must subscribe to a disability insurance policy that will protect their quality of life and future earnings. Consultants Disability insurance policy should provide adequate benefits and provisions.
Below are vital policy provisions to consider:
Own Occupation Disability Insurance
Consultants need to find their own occupation disability insurance to qualify for benefits while they work in another career different from consultancy.
Residual/Partial Benefit
A percentage of the monthly benefit is paid if one can still practice consultancy on a part-time basis.
Non-Cancelable and Guaranteed Renewable
This restricts the insurance company from increasing rates or adjusting the policy in any way.
Recovery Benefit
This ensures that benefits are continued beyond recovery once the consultant hasn’t started earning income.
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