9 Things Entrepreneurs Should Know About Disability Insurance

Maybe you cannot find any insurance policy for disabled entrepreneurs in your local area as we are introducing this thing with this blog post, but you should try.
9 Things Entrepreneurs Should Know About Disability Insurance
Being an entrepreneur we should know that what is Insurance and its sub-category "Disability Insurance" because there are so many entrepreneurs who are disabled but doing more than the normal ones.

We should try to boost their will power more and make them get what they should get in terms of free to paid treasures.

I was in search of some insurance plans and thought that what people with disable body parts can do to give their dreams a life?

Probably the best thing is they should get an insurance policy entitled as Disability Insurance which is far more good than we can think.

So read the exclusive blog post on disability insurance right below:

1. What is PDQ and How to Know it?

The PDQ score stands for "personal disability quotient" so you can check yours for getting to know how much you have to save for your future and what you should do to get your retirement easily go without breaking your financial boundaries.

But the question is how we can calculate the PDQ when we are not going to a lawyer or an insurance agent? since you are an entrepreneur and disable. You can follow below steps to calculate the accurate score of PDQ:
  1. Open WhatsMyPDQ.org and take a quick survey (free survey) which will tell you the score of your PDQ
  2. Print that results or save it on your computer
  3. Ask any good lawyer or insurance agent to verify that PDQ 
That's all.

Now as you know what your PDQ is, you can easily save your money and stay healthy till your death's time and if you can't understand it, you should talk to a money expert.

2. What type of Insurance Policy is best?

What type of Insurance Policy is best?

Well for other people the heading can be like "should I buy my own policy or get it through work?". Since this is about disabled entrepreneurs insurance plans, we should know what type of policy will be best and for all of your social security needs, you can contact Disability Advantage Group as it is also another type of insurance policy to be considered.

Well, the best thing is you should buy your own disability insurance policy and it can be in a range of two factors:
  1. If you are earning more than $200,000 annually than its best to buy your own disability insurance policy
  2. If you are earning less than $200,000 than you should consider getting a low-level insurance policy or talk to your insurance agent for better quotes
Whoever, since you have to do all the things on your own. I advise you ask others and get their reviews and talk to 2/3 insurance agents not just one.

3. Do some research

Well, being a disabled human and entrepreneur who have to do all the things personally. You are one step away from the people who can get a successful insurance policy.

Still, there is a chance for you to have it work for you as a disability insurance policy is specially designed for the people like you are.

What you have to do before buying a disability insurance policy is written below:
  1. Talk to your family member or friends and if you can't then talk to your online clients
  2. Contact some insurance agents and ask them to visit you for getting more information
  3. You can also use websites like Disability Quotes to determine it better
Don't just get it done after these three steps.

There is more than this and that is why I am here to guide you. That is: Read all the documents of that policy plan and ask the agent to tell you about other people who have bought that same policy package so you can get more information from them.

4.  Finding a Professional Agent

The best thing to remember before taking any insurance policy is choosing/finding the professional insurer or agent who is an expert in insurance policies.

Just follow below simple steps to find a professional agent:
  1. Google your terms like "Disability Insurance in XX country" replace your country's name with XX in that line and hit the search button
  2. You get a list of top 10 searches for that term and thus you can check their authentic agents
  3. Find any contact form and leave your message to seek a quote for disability insurance
They will defiantly reply to you.

Just after receiving quotes from them, note them and call your local brokers to find out that what they are offering.

There are also some agents who just charge a fee to tell you more about disability insurance for entrepreneurs (since its not yet heard and we are publishing on our own) so find them and get more information from those agents.

5. Check your Insurer is Legit enough?

After getting quotes and having an agent with you, the very first thing now to do is to check whether your insurer is legit or not?

At-least you should research that company by talking to the already insured persons from that company you are willing to have an insurance policy with.

Also, check their financial background and if they are new to the business, don't dare to buy disability insurance from them.

Try to find out an old and trusted insurer so your money will be in safe hands.

6. The Insurance Policy you are taking is enough for you?

Don't buy any type of insurance policy when you are not sure that it can cover your disabilities or not.

Above steps are for this purpose only, so I think you should try your best to find out that the policy you are going to have with you is wonderful for your after-work life.

As when you will be retired, you have to thrive only on that insurance policy and this is what we should remember before taking it:
  1. Check their health benefits
  2. Ask them to give you the written statements for helping in critical situations
  3. Ask about what they will give you in sudden accidents
  4. What are their margins and benefits attached with the policy for a person who will be not working after 50s or 40s
There are a lot more questions which you should ask to your broker/insurer and you can take notes of them from your agent.

7. Make a Budget Plan

Wait here, as you have to plan it before going to buy it.

First of all, as you know what you are making today and what you can make in your near future. So try to figure out how much you can spend on getting an insurance policy and still you will be able to live happily.

This is how you can do it:
  • Make a list of your daily use items and a list of  items you will need in winters and summers
  • Note down that what you will have after spending on all those items and what is your safety point?
  • After knowing that amount now you can adjust your insurance policy by spending 60% of that money on a disability insurance plan
It will work, and it works for many people I know.

How I know? Because I have a background with some insurance agents and my big brother is in insurance policy business so I know how they manage those things and how people can get benefits from this type of business.

8. Know your Insurance Policy limits

Before buying it you should know how much you can really spend without any worry in your near future.

As in step 7, I have suggested you, make sure everything is maintainable after spending on the insurance policy.

Just one thing: When you can easily pay $10,000 annually - take the policy at $6000 per annual and when you can pay $20,000 easily per annual - take the policy at $12,000 per annual

You can also ask about these calculations from your favorite insurance policy agent.

9. Talk to a Disability claims Consultant

This is the last but not least step to take when you are all set to sign a plan for disability insurance and pay your first scheduled payment.

Just simply ask your agent to tell you about any disability claims consultant and if you can't trust the agent then you can Google "disability claims consultant in XX" replace XX with your city name.

You will get a list of best and top disability insurance claims consultants list so that you can talk to them for giving you the ending information so you can make a good decision.

Sign at the dotted line and take your disability insurance policy which is for all form Sports, Entertainment and general public human beings.

NOTE: You can buy disability insurance when you are all healthy and fit, and in some areas of the world this insurance policy can be bought even for disabled persons (who works (entrepreneurs)) - we are not claiming this statement to be 100% true.

If you need more help than you can comment below. Thanks for the read.