Disability Insurance for Hands
- Thread starter melmadhav
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- disability
- 9,744
Back when I was a amateur porn star considering turning pro, I shopped these. I had a particular body part in mind, but the best thing turned out to be a strong own-occ DI policy, Guardian's comes to mind.
Respectfully,
Dirk Diggler
- 711
I would look at a good Own-occ policy. The protecting a single body part thing is for people that do not have normal jobs; think actresses, musicians, models, etc. Those policies are expensive considering what you get.
Besides, what happens if she can't walk? Or gets cancer? Something like 88% of disability claims come from illness and not injury.
- 10,328
Usually protecting a single body part is for people who do not have a steady income but make large sums on single gigs. (like the ones you referenced above)
Technically it is a "loss of potential earnings" policy... and the "potential" earnings are obviously a subjective thing.
A physical therapist would (should) have a fairly consistent income to document. A policy that has an inflation adjusted benefit, and GI optional future increases should work fine.
If they are young and expect to have a significant increase in earnings over the next 10 years they could look at a Loss of Potential earnings policy to cover the excess. Usually people like young surgeons who are fresh out of training look at that type of policy to supplement the normal DI.
Sometimes you can use the Loss of potential Earnings to make them whole up to 100% of income (if needed).
- 1,908
I'll throw Peterson into the mix.
- 4,132
I agree with Dirk Diggler.
Remember you're the professional advisor here, explain how a real disability policy works. Stick to the true own occ. definitions and you should be good.
Remember you're the professional advisor here, explain how a real disability policy works. Stick to the true own occ. definitions and you should be good.
- 1,227
I read that Betty Grable's legs were insured by Lloyd's of London; thought that was interesting.
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She must charge a lot to want to insure her hands. What "area" of physical therapy does she use those hands?
