Disability insurance is essential for real estate professionals during any stage of your professional career. A study performed by the American Council of Life Insurers showed that a 35 year old is six times more likely to be disabled than die before they are 65.
Disability policies can be tailored to fit the financial needs of the self-employed 1099 real estate agent, the agent working as an employee of a large broker and for the mega broker with a team of 50 agents. All types of agents can be financially ruined if they were unable to actively sell homes.
Agents with high over head expenses, like rent, utilities and payroll, can benefit from an Overhead Expense disability policy. These policies are useful for real estate partnerships where one parner gets sick or disabled, leaving the other partner to "foot" the bills. The payments from the policy could be used to fund a temporary manager to replace the disabled partner's obligations or provide help provide continuity with the firm until the disabled partner's share is sold off.
Agents can ask themselves these questions:
If I get hurt or become sick and can't work...
1. Will I be able to provide the service my clients need?
2. Will I be able to provide the leadership and support my agents need?
3. Would my sales / revenues decline, but my expenses stay the same?
If any of your answers are "No," call us today at (904) 733-4634 and we'll schedule an appointment to discuss your disability income needs.
Contact an insurance agent at Insurance Wagon today to answer any questions about Real Estate Agent Disability Insurance or for a free review and insurance quote for Real Estate Agent Disability Insurance. And don't forget, as an independent insurance agency, we represent several top rated insurance companies. We have the flexibility to help you find coverage at competitive premiums for business, home, auto, and more.
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