Welcome to my initial blog for dibroker east/Eskra & Associates.
This blog will show up occasionally when something interesting happens in the disability insurance world that I want to share with you.
I was hoping to get my father, Mike Eskra, Jr. to take on this blog. He was a bit of a legend in our industry and a consummate marketer—and he loved to write (his book on Disability Insurance is a testament to that). Sadly, he passed away unexpectedly in September 2015. This blog is dedicated to him.
I want to start this blog with an unsung product in the disability world—disability buy-out.
Often, often, often we can see clients who have are the owners of small business, and often (though not often enough), they will have a buy-sell agreement that covers what happens to the firm in the event of the death of one of the partners. And often, they cover the risk created by that agreement with a term life insurance policy—great. So far, so good.
But so,so often, the agreement will also cover disabilities (which a good agreement should), and that liability with not be covered by a disability policy—but it can and often should be.
A number of carriers have excellent buy-sell products, including MetLife and the Standard. But the Principal Financial group has just released a new version of their buy-sell product (“DBO”) that has really fantastic pricing, and it now allows for one-way buy-outs.
If you have clients who own a small business and who have partners, talking with them about buy-sell needs is very important, and now is a great time to do it.