Are Disability Insurance Premiums A Deductible Expense?

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By Jeffrey C. Fleischner, JD Vice President, Set for Life Insurance A common question is whether the premium for an individual disability insurance policy is deductible as a business expense for Federal tax purposes.  For self-employed tax payers, the answer is “yes,” but choosing to deduct the premium will have adverse income tax consequences on the benefits paid by the …

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The Most Important Insurance for New Parents

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As a new parent, you are already overwhelmed with your major life change!  This life changing event also means it is time to take a close look at your insurance to make sure your precious family is protected. Where do you start? Life Insurance. Life insurance pays out a death benefit to your survivors. Even if you are a stay …

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Why singles need disability insurance more than their non-single friends.

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Single professionals may need individual disability insurance perhaps more than their non-single friends. Why? Because single people are solely dependent on their income. As such, it is even more important to protect that income. Here are some tips for singles when it comes to purchasing a disability insurance policy: 1)      Determine need. Calculate your monthly fixed expenses to determine how …

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Disability Insurance: Are Transplants Covered? Rehabilitation Benefits?

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Do Individual Disability Insurance Policies Cover Transplants? Rehabilitation?   It is important for you to read your individual disability insurance policy carefully. Some policies will pay out monthly benefits in the event that you need a transplant. This rider does not cost extra. It is important for you to be familiar with the terms of your contract if you ever …

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