High Limit Income Protection - Investment Management Executive
Client
A 46-year-old high-level executive at an investment management firm in New York City.
Situation
The client, who’s annual earnings exceed $2.6 million, saw the need to protect his future income. With a possible 10-15 years left in his career, for the advisor this meant protecting an almost $40 million asset.
Assessment
The executive maintained $35,000/month of coverage through a combination of group and individual domestic disability programs. The advisor on the case saw a huge gap in coverage, the benefit would only cover 16% of the highly successful executive’s current salary if he became seriously ill or disabled.
Solution
Exceptional Risk Advisors designed and underwrote a personal high limit disability policy that would deliver an additional monthly benefit of $80,000/month to the executive for a period of 120 months or to age 65.
Result
With the policy in place, the client could concentrate on providing risk management solutions to his clients worry-free, knowing that his family and their new affluent lifestyle was protected.