Before addressing key personnel, a business should address their overhead or essential costs of doing business.
Disability Overhead Insurance
You may have personal disability insurance that replaces some of your personal income if you are disabled, but what about the cash flow you and other key employees or partners generate for your business? How long would the practice be solvent and stay open without it? You should know who produces what dollars in your practice and be realistically insured if yourself or another key producer can’t work for some period of time so that your practice remains solvent, and to avoid having to go into your savings (or worse, into debt) to keep it open. This distinct coverage, referred to as Disability Overhead Insurance does just that and should be adequate to cover all the fixed monthly expenses your production covers.
Key Person Disability Insurance
Closely related to the coverage above is coverage for the loss or incapacity of key employees who either are themselves big producers or perform vital functions that allow you to produce. This insurance benefit helps cover any temporary income loss and the costs of locating, recruiting, and training a suitable replacement.
Premium costs vary with the size of your organization and your individual underwriting and claim history, but getting all the coverage above costs less than just the retainer to get a lawyer to begin to defend you against any one of these exposures. Dollar for dollar it’s some of the best defense available for your wealth and practice. Review this list with an experienced commercial insurance agent for help today so that you are covered for the rest of the year.
The content in this press release was taken from Ike Devji’s article Common Flaws of Asset Protection Planning, with permission.
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Norwalk Insurance Agency Educates On The Cost of Contractors Insurance
Norwalk, Connecticut (findit ) January 20, 2021 – JMG Insurance, a Norwalk specialty insurance agency, offers readers some valuable information regarding how much contractors insurance costs. The new article is guided by the insurance experts at JMG who have extensive experience helping clients find the perfectly priced plan for their needs. They have designed this new article to help readers get a better idea of what factors will affect the cost of contractor’s insurance the most.
JMG Insurance offers readers some valuable information that explains how to calculate what the cost of contractor’s insurance may potentially be. In the article, they explain what contractors insurance is before getting into the things that affect their cost. Some of the factors they go over include the number of employees, the types of contracting jobs, the risks associated with services, and others. They hope that this article will help contractors searching for insurance understand what to expect while also demonstrating the importance of working with experts.
While this new article focuses on explaining how to calculate the cost of contractor’s insurance, JMG’s website offers visitors more information regarding their team, experience, as well as a full list of service offerings. JMG offers personal, business, and specialty insurance that helps clients get the protection they need at the best possible rate. They offer thorough insurance plans for business owners, contractors, errors and omissions, general liability, group benefits, construction companies, and more. Their agency was built on the principles of providing superior customer service and quality insurance solutions for their clients, and they work hard to uphold these values. Their team strives to make the insurance process as simple as possible for every client.
With the addition of this new article, the team at JMG hopes that contractors will have a better understanding of what factors will affect how much a comprehensive insurance plan will cost. For more information, reach out to the qualified contractor insurance experts at JMG today at 1-844-304-7332 or visit their website at https://jmg.com/. Their offices are located at 29 Haviland Street in Norwalk, Connecticut 06854.
Apply For Student Debt Relief Programs Available to Borrowers with Freedom Loan Resolution
Students that are living paycheck to paycheck and struggling to make ends meet as a result of their past due student loans can apply for available student debt relief programs with Freedom Loan Resolution. We our a group of experienced student loan debt counselors that know and understand the situation that you are in and we are here to help you apply for the right debt relief program to meet your needs.
Oftentimes, juggling mandatory living expenses such as housing payments, car payments, utilities, and food and credit card bills, there is not enough money left over to pay your student loan debt. Moreover, when you are in a financial hardship, struggling to make ends meet, it can be difficult to figure out the best course of action for your student loan debt. Let us help you apply for the right debt relief program that will help you get the debt relief that you need so you can move forward on the right financial path.
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In student loan forgiveness, students may be eligible for a principal reduction, partial loan forgiveness, or total loan discharge. Each case is different and we will help determine which you qualify for.
For some students, an income based payment plan can be the right choice. With an income based payment plan, students repay their student loans at a rate that is calculated based on their income and family sizes. In some cases, this could mean a payment of $0.00 per month.
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