Protect your income and future with the right disability insurance.
Disability insurance can replace a percentage of your income in the event you are unable to work due to an illness, injury, or other health condition.
Securing your own disability insurance coverage is a wise choice that requires advanced planning. Protect your income and your future with the right disability insurance policy.
While some employers offer salaried workers disability coverage, self-employed individuals, freelancers, entrepreneurs, and many small business owners need to provide their own coverage. That said, even employees with salary positions may require a supplemental disability policy to ensure adequate coverage.
We take a highly-personalized approach to helping our clients secure disability insurance coverage that meets their unique needs.
Whether it’s short-term or long-term coverage, our insurance solutions will safeguard the financial stability of self-employed individuals in the face of different types of injuries or ailments. We can help you determine how your policy should be designed based on basic factors that include your line of work, benefit periods, elimination periods, and if additional riders and benefits need to be written into the policy.
Types of Disability Insurance
Short-Term Disability
Elimination (waiting) period: 30 days
Benefit period: 3 months, 6 months, 12 months, or 24 months
Average cost: Variable based on risk factors and policy terms — average costs sit between 1% and 3% of your gross income
Applicant risk factors: Occupation, age, smoking status
Claim types: Having a baby, complications from pregnancy, severe illness, injuries that cause temporary disabilities
Long-Term Disability
Elimination (waiting) period: 30 days
Benefit period: 2 years, 5 years, 10 years, to age 65, or for life
Average cost: Variable based on risk factors and policy terms
Applicant risk factors: Age, health, occupation
Claim types: Musculoskeletal injuries; complications from pregnancy; injuries that cause disabilities; cancer, heart disease, or other critical illnesses
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Doeren Mayhew" is the brand name under which Doeren Mayhew Assurance and Doeren Mayhew Advisors, LLC and its subsidiary entities provide professional services. Doeren Mayhew Assurance and Doeren Mayhew Advisors, LLC (and its subsidiary entities) practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations and professional standards. Doeren Mayhew Assurance is a licensed independent CPA firm that provides attest services to its clients, and Doeren Mayhew Advisors, LLC and its subsidiary entities provide tax and business consulting services to their clients. Doeren Mayhew Advisors, LLC, Doeren Mayhew Insurance Group and its subsidiary entities are not licensed CPA firms.