Consultants from around the country are discovering Set for Life and choosing them to help them with their life insurance, disability insurance and long term care insurance needs.

A lot of consultants are choosing to leave their large companies to start their own firm. As a result, they are losing their insurance benefits and need to purchase them on their own.

The biggest obstacle for consultants who recently went out on their own is income verification. Most disability insurance companies want to see at least one year’s worth of steady income. Some consultants have steady contracts with clients where they can prove income. Otherwise, they must wait until they have at least one year’s worth of income verification. If you are an S-corporation, you will need to show your full tax return with the schedules.

It is important for consultants to work with disability insurance experts such as Set for Life to help them determine their occupational class. This is one of the main determinants that will set your premium. Depending on your background and level of expertise, you may qualify for various occupational classes. For example, if you are an engineer or attorney, you may qualify for much lower rates than if you are doing computer consulting.

A lot of consultants we see are in their early to mid 50s. Their goal is to protect themselves in the remaining years until they reach retirement. If this is your particular situation, you may want to consider a 5 or 10 year benefit to help reduce the premium. Premiums in your 50s can be pricey and this may help offset the cost.

For more information about disability insurance for consultants, contact Set for Life Insurance today!