Disability Insurance Broker Explains Business Reducing Term Disability Insurance Policies
As an experienced Disability Insurance Broker for physicians and dentists, I often field questions about business reducing term disability insurance policies. A business reducing term disability policy will cover a loan that you have either for equipment or start-up money from the bank.
Oftentimes they request that you assign your own individual disability to them for that liability. We don’t advise that, as you’re giving them the most comprehensive coverage available to cover something that’s very temporary. A business reducing disability term policy will cover that loan or liability should you become disabled at much lower cost than using your own individual disability insurance policy.
If you have questions about business reducing term disability insurance policies, contact our professional Disability Insurance Brokers for guidance. Let our experience work for you.
This educational blog was brought to you by Disability Insurance Broker Michael J. Bruno, seasoned Chartered Financial Consultant, Chartered Life Underwriter and Registered Health Underwriter. Specializing in financial planning and disability insurance for physicians and dentists for over 30 years.