Broker Check

Practice Owners

Client Centered

Wealth Accumulation & Asset Protection

  • Human Economic Life Value Determination
  • Coordination of Protection Products
  • Current Portfolio Review
  • Alternative Savings Options
  • College Savings
  • Savings & Risk Diversification
  • Disability Planning

Business Planning and Valuation

  • Key Employee Retention & Bonus Design
  • Business Valuation & Continuation
  • Business Overhead Expense
  • Strategic Partnerships

What is your most valuable asset?  For most of us it is our ability to generate a paycheck.  A Physician or other medical professional will earn millions of dollars during their working career, and this income provides for our lifestyle.  You should pay very close attention to your personal Disability Income Insurance CONTRACT.  If you suffer an injury or prolonged illness, and need to use this important Insurance, your claim will be governed by this contract.

Your Personal Disability plan should be periodically reviewed and purchased from an expert that understands how to tailor a program for your specific needs.  Your income is a multi-million dollar asset.   If you owned a two, five or fifteen million dollar Home, would you leave it under or not insured?  This could be the most important Insurance contract you own!

So what do you look for in high quality Personal Disability Income Insurance? Most Physicians and other medical professionals want a contract that provides a definition of disability specific to their specialty in the practice of medicine.  But there are other very important contract features that need to be considered.  What is the definition of Residual Disability, do I need Recovery Benefits, do I receive a cost of living raise if totally disabled, can the price of my Insurance increase, or the coverage canceled during my working career?

There are many options for us to design the best and most affordable Personal Disability Income program for you.  We act as your Advocate if you need to use this important Insurance.  When a disability strikes are you prepared?  How will you continue paying your mortgage, auto, and other monthly expenses?  Does your retirement contribution stop?  Could you pay any student loans?  We have options to pay your loans, retirement plans, and other expenses in the event of a disabling injury or illness.  Call/contact us for a review today. 

If you are a practice owner you must have cash to pay your personal and business expenses if you are disabled from an accident or serious illness.  Could your business and personal lifestyle survive if you were unable to generate income for one or two years, or longer?  Would there be a practice left?  Would you have to start over and build back the income you enjoy?  If you are able to locate a temporary replacement, how will you pay them? 

A tax deductible Professional Overhead Expense Insurance policy helps ensure an owner can protect their business if they cannot work due to disability.  The contract pays for the cost of a replacement Doctor, employee salaries, utilities, phone bills, accounting, billing, legal and collection fees, janitorial, security and maintenance services, professional/association dues, postage, real estate taxes, malpractice insurance, interest payments on certain loans.  When a disabling injury or prolonged illness strike, this contract protects your practice and protects you.

If the owner of a closely held practice has to activate their personal disability insurance, often this plan does not pay until ninety or one hundred twenty or even one hundred eighty days!  This is a long time to ‘self- insure’, and will exhaust accounts receivable.  Most professionals would find it financially difficult to maintain personal and all practice expenses during a lengthy interruption of their cash flow.  The Overhead Expense contract adds to Personal Disability Insurance so a self- employed professional can maintain their lifestyle and return or sell their valuable business after an unexpected injury or illness.

Your practice provides your lifestyle.  A professional overhead expense contact designed by your team of experts at XXIMEDICUS will help maintain your business value, credit ratings, reduce staff turnover, serve as “interruption” protection if an owner becomes too sick or injured to work.  Often we at XXIMEDICUS can design these programs with multi-life discounts, and premiums are tax deductible as a necessary business expense. Contact us so we can design a plan for you and your business today.

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