Owners of brand-new businesses are often challenged to provide the type of financial documentation typically required by individual disability income carriers, because their businesses have not been up and running long enough to generate the necessary tax returns.
However, if you are taking an entrepreneurial leap in opening up a business in the same field where you have established a career, we may be able to offer you important disability income protection coverage right off the bat.
For those that qualify, we take a portion of past W2 income and put that income into the benefits calculator and offer those reduced benefits to start-ups. If the Future Increase Option rider or the Benefit Purchase Rider is available, you will be given the option to increase benefits at a later date when financials become available.
Three Requirements to Apply Under This Program:
The Offer: (Physicians only): Maximum monthly benefit based on 70% of the W-2 verified prior earnings (but not more than $7500/mo.)
The Offer: (all other eligible occupations): Maximum monthly benefit based on 50% of the W-2 verified prior earnings (but not more than $5000/mo.)
Additionally, up to $20,000 a month of base Overhead Expense benefit with up to $10,000 of Future Increase Option (FIO) and up to $10,000 a month of the Professional Replacement Rider is now available to all eligible occupations under this program.
Financial Representatives of the Guardian Life Insurance Company of America (Guardian), New York, New York Financial Growth Partners is the DBA name of IA PA, LLC a wholly owned subsidiary of Guardian. The Guardian® Logo is a service mark of Guardian, used with permission. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. This website contains the opinions of the author but not necessarily those of The Guardian Life Insurance Company (Guardian), New York, NY or its subsidiaries and such opinions are subject to change without notice. Important Disclosures: www.guardianlife.com/disclosures Terms and Conditions Privacy Policy
Securities products and advisory services offered through Park Avenue Securities LLC (PAS), member FINRA, SIPC. OSJ: 11350 McCormick Road, Executive Plaza III, Suite 202, Hunt Valley, MD 21031, (667) 318-0801. Securities products and advisory services offered through PAS, member FINRA, SIPC. PAS is a wholly owned subsidiary of Guardian Life Insurance Company of America® (Guardian), New York, NY. Financial Growth Partners is the DBA name of IA PA, LLC a wholly owned subsidiary of Guardian. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. This website contains the opinions of the author but not necessarily those of The Guardian Life Insurance Company (Guardian), New York, NY or its subsidiaries and such opinions are subject to change without notice.
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