Open to MVMA members age 18-64
Enrollment period: January 24, 2014 – July 30, 2014
10% discount for MVMA members
Additional 15% discount for business owners*
Additional 5% discount for multiple policies
Discounts can be combined to a total of 30%
High quality – True Own-Occupation definition of disability
Up to $6,000 per month in disability insurance without a medical exam**
Up to $6,000 per month in disability insurance without submitting tax returns**
Up to $50,000 per month in business overhead expense insurance
*In order to receive the business owner discount applicant must submit two years tax forms to prove business profitability
**Only available to applicants age 18-50. Applicants age 51-64 can apply for up to $2,499 per month in benefit with no medical exam required.
We are excited to work with the Montana Veterinary Medical Association in offering this discounted disability insurance program. Disability Insurance is extremely important for anyone who financially depends on the income they earn through work. At Montana Life Group it is our philosophy that disability insurance is one of the most important types of financial protection a working person should have. If you are interested in looking at disability insurance options and pricing, just request a quote on this page or send us an email.
Greg Burden is one of the most experienced disability income specialists in the entire country. His expertise includes solutions for individuals and families as well as business partnerships and other complex situations. Greg is dedicated specifically to ensuring that clients are protected from the devastating effects a sickness or injury can cause to an otherwise normal financial situation.
Disability Insurance Insures Your Income
Your most important asset is your ability to earn an income. Let’s say you make $60K per year and you are planning on working full-time for the next 20 years. Assuming no increases in salary, that equates to $1,200,000 of earnings you will bring in during your working career. You and your family depend on that money – doesn’t it make sense to insure it?
Sicknesses, injuries and accidents occur every day. How long could you live off savings if you needed to recover from an injury and you couldn’t work? Would you be able to pay your bills if you had to wage a battle against cancer and had to miss work?
Disability insurance pays you a monthly tax-free income if you are out of work because of a health issue. Disability insurance serves as protection for the veterinarian who is concerned about the threat of an unexpected accident. It can safeguard an attorney or CPA who is concerned about potential mental illness. Disability insurance can even cover the software engineer who is concerned about injury because he loves to mountain bike.
Do I need Disability Insurance?
If you depend on your income the answer is probably yes. Most people are surprised to learn how likely it is to suffer a disabling injury or sickness. Some statistics are available here. Calculate your Personal Disability Quotient.
Long Term Disability Insurance
Long term disability insurance is probably the most important type of disability insurance to consider buying. It is also often overlooked. Many Americans misunderstand long term disability insurance just because of the name, so let’s call it “LTD.” LTD can cover a huge range of sicknesses and injuries and they don’t have to be long term, multi-year disabilities. The “Long Term” in the name is referring to the amount of time that a policy could potentially pay benefits. Many LTD policies offer benefits that can pay for over 40 years. Those same policies also offer adequate coverage for shorter term health issues with recovery times of less than a year. To find out what options are available for your situation request a custom quote.
Business Overhead Expense Coverage
There is a specific type of coverage available to business owners. Some business owners have high overhead expenses each month that need insurance as well. Business Overhead Disability Insurance reimburses you for all business expenses incurred for a 1 or 2 year period. If you have a high overhead business, this can be an extremely important type of coverage. Coverage available from $500 per month up to $50,000 per month.
Business Owner Buy-Out Coverage
If you have a business partner you should have an agreement in place discussing how the business will be operated if one of the partners becomes disabled. Disability Buy-Out Coverage can serve as the insurance part of the agreement, insuring that if an owner becomes disabled the insurance benefit will be there to “buy-out” the disabled owner. Disability buy-out policies can be structured to pay a lump sum or an ongoing monthly payment. Coverage is available up to $2,500,000.