Professional Disability Insurance From The Guardian Insurance Co.
N.B. Insurance Services are offered separately and distinctly by Nigel Taylor in CA under an individual license 0716446 since 1986. Taylor & Associates is not an insurance agency and offers no advice in insurance matters.
As a managing general agent, and / or Broker, for many companies in California I have the ability to offer my clients a vast array of insurance products and services. I am particularly proud to offer disability income protection insurance products from the Guardian Life Insurance Company. The Guardian offers one of the premier disability income insurance product portfolios for professionals in the industry, with comprehensive coverage for both individuals and businesses. They constantly receive outstanding ratings from companies such as A.M. Best, Moody's, Standard & Poors etc. (More about the company below) Discover the advantages of the following two policies from Guardian.
ProVider Plus Disability Income Policy: One of the best ways to make sure your income will be protected if you become disabled is to own an individual disability income policy from Guardian. Provider Plus provides non cancelable coverage with guaranteed premiums to age 65. This means that you may renew your policy at the end of each term until you are age 65.
Other advantages include: Guardian cannot cancel the policy, except for nonpayment of premiums Guardian cannot change the provisions of the policy in any way Guardian cannot change the premiums. Not only is the policy conditionally renewable for life as long as you're working full time, but you also own the policy, and benefits are paid to you directly. Unlike many employment benefits, the coverage under ProVider Plus doesn't reduce or end if you leave your current employer.
PayGuard Personal Reducing Term Disability Income Insurance: PayGuard can become your lifeline if you become sick or injured and are unable to work. Under your PayGuard policy, you receive the full benefit when, because of a disability, you're unable to perform all the substantial and material duties of your occupation or profession and you are not actually at work in any occupation or profession. Your disability must be a total disability during the elimination period, and continue to remain a total disability beyond the elimination period. Renewal and premium are guaranteed to the date of termination. (The maximum period of coverage may be any increment of whole years from five to thirty years.
The length of time that the policy is in force is determined on the date of issue and ends on the termination date. This period of coverage reduces each year until the termination date is reached.) As a Certified Financial Planner Certificant with over 23 years of experience in the insurance and financial planning profession, I can assist you with your disability insurance needs either separately, or as a part of an overall financial, retirement or estate plan. If you are a resident of Southern California ONLY (please) and disability income protection is important to you and your family, please arrange for an appointment by calling me at 310. 260. 1126. We'll discuss your current situation and determine the best means of protecting your income so you and your loved ones can feel secure about tomorrow and the years to come.
Qualified Sick Pay Plans: Do you expect to continue paying wages to yourself or a key employee in the event of sickness or injury? If your answer is, "of course," you might be surprised to learn that it's not as easy as you think. Under current federal tax law, you must have a Qualified Sick Pay Plan in place prior to an employee's disability--otherwise, any wages paid to (including FICA contributions made on behalf of) a disabled employee are not considered a business expense and therefore aren't tax deductible.
All it takes to avoid this situation is a simple agreement that sets company policy before a disability occurs, establishing who to pay, how much, when to begin, and how long to continue. Your plan must be adopted before an employee becomes disabled, and the employee must be aware of the terms of the plan.
How Can I Help? Utilizing the Guardian's excellent products, I can show you how to transfer some or all of the liability for plan funding. By transferring the risk from your business in the form of individual disability income insurance policies to an insurance company such as Guardian, you can budget a predetermined amount of money while everyone is well and working, and deduct the premium as a necessary business expense.
When Something Happens to a Business Partner..... Do you have a buy-sell agreement? If so, does it have a disability buyout provision? If not, what would happen to your company if you or your business partner became too sick or injured to work? In the event that one partner becomes disabled, a Disability Buyout Insurance policy can keep the business intact by allowing for a smooth transfer of ownership. Such a policy can help provide the balance of cash flow necessary to buy your disabled associate's business interest.
How the non-disabled partner benefits:
- Maintains ownership and continuity of management
- Experiences a smooth transfer of interest because the conditions of the buyout, the purchase price (or formula), and the funding method are predetermined
- Has the assurance of the company's continued existence because profits won't be depleted
- The company receives benefits income tax-free (under current tax law)
How the disabled partner benefits:
- Has the assurance of a buyer at a predetermined and fair price
- Receives cash for his/her share of the business
- Is free from the risk of any future company losses
- Is free from the worry that family members would have to become involved.
Protecting Your Business and Your Employees at No Extra Cost: Today, one of your largest business expenses is probably the cost of employee benefits. While the pressure for more and better benefit programs increases, the traditional options are becoming less affordable and are often too inflexible to address the specific needs of your business and employees. But there is a way to help employees protect themselves and their families from the financial pressures of illness or injury at almost no cost to your company. By choosing a Voluntary Income Protection Plan that allows for payroll deduction, you can help solve a very real business need. As an employer, you endorse and sponsor plan enrollment, making time for employees to learn about the benefits. A small amount deducted from participating employees' paychecks will assure a source of income in the event that an employee becomes disabled. You may also participate in the plan.
Meeting Your Long-Term Commitments: You know that employment contracts, business loans, and other financial obligations are critical to your business. And you also know how hard it can be to meet these long-term commitments. That's where business-reducing term disability insurance (Coverage cannot extend beyond age 60) comes in. It's designed specifically to fund financial obligations that require periodic payments of 5 years or longer that expire at a given time.
Disability income insurance is a valuable benefit your employer may provide as group coverage. It provides payments (on a short-term or long-term basis or both) to employees when they cannot work because of illness or injury. If you were injured or got sick and were unable to work, you'd still need some form of income. Through Guardian, your employer may provide disability income insurance to ensure that if you become disabled, you'll have a source of income.
Guardian's AbilityGuardSM is a comprehensive family of short- and long-term disability coverages and services that provide cash to employees who are unable to work because of a disability, and ensures that they will be protected, even if they use up their sick pay. AbilityGuard includes several convenient and valuable features:
- A highly professional claims team to ensure that disabled employees are treated fairly
- Return-to-work assistance to help get employees back to productive employment
- Access to Social Security specialists and vocational rehabilitation professionals
- An American with Disabilities/Return-to-Work information hotline
Introducing the Guardian Life Insurance Company: With nearly 6,000 employees and almost 2,400 financial representatives in 119 general agencies, Guardian is the seventh largest life investment company in the United States. It ranks 205th in the list of Fortune 500 companies (Fortune, April 1999). Founded in 1860, Guardian and its subsidiaries today provide almost three million people with life and disability income insurance, retirement services and investment products. We also supply employee benefits programs to nearly four million participants, including life, health, and dental insurance as well as qualified pension plans. Guardian's reputation is built on accessibility, professionalism, performance, as well as the depth and quality of the long-term relationships they build with their clients. They are proud to be a member of the Insurance Marketing Standards Association (IMSA) and, I am proud to be able to include their protection plan line in my quiver of products.
Nigel B. Taylor
CA Insurance license Nr. 0716446.