DISABILITY INCOME FOR LAWYERS
90% of career-halting disabilities are due to illness, not injury.*
Ensure your expenses continue to be paid – even when you’re unable to work due to disability or prolonged illness – by locking in your personal disability income policy now.
*Council for Disability Awareness, 2018
Be ready for whatever life throws at you.
Disability insurance replaces a portion of your income if illness or injury keep you from working. Here’s why our coverage is a smart way to go.
What is Disability Insurance?
Disability Insurance:
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Can replace 60% to 80% of your income for a specified period of time if you’re unable to work.
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Provides income for you should illness, injury, or other conditions occur unexpectedly.
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Fills in the gaps of (short term) employer disability plans provided by employers.
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Is a benefit you can receive tax free.
When you’re unable to perform your normal job duties because of an illness or other condition, disability insurance replaces a portion of your monthly income. By paying your insurance policy premium monthly, you’ll give yourself and your family peace of mind should you become unable to work due to accident or illness.
How long do you want the benefits to last should you need them? The benefit period (the period of time in which you receive monthly payments during a covered claim of your disability insurance policy) can be chosen at the time of application and can last as little as two years, or as many as ten years – you decide!
Disability insurance provides coverage for daily expenses you may otherwise be unable to pay should you become sick or disabled.
“But, I already have Disability Insurance through the firm.”
Law firms offer their attorneys group coverage.
- Group coverage benefits will be taxed at claim time.
- Group coverage is solely left to the discretion of the firm and does not account for possible future mergers, acquisitions or changes in benefits offered.
“But, my investment accounts will cover me.”
If you become disabled unexpectedly:
- Your investments will only pay out due to disability according to IRS guidelines, which often involve penalties and early withdraws.
- Your investment planned contributions will likely never come to fruition due to loss of work.
- The investments you planned to fund fund your retirement will be used for carrying your monthly expenses instead of your retirement.
“The average disability claim lasts over 31 months.”
Can your investment and savings accounts cover 3 years of expenses and
household income needs without altering your retirement plans?
How can Disability Income be used?
Pay Your Household Bills
Becoming disabled through illness or accident doesn’t mean the bills stop arriving. Your independently-owned disability policy allows you to pay your monthly household bills, like the mortgage, auto loans/leases, groceries and daycare fees.
Pay Your Business Expenses
When you’re unable to take casework due to illness or injury, the bills don’t stop coming! Owning your own personal disability policy ensures you’re still able to pay expenses like: office rent, equipment lease payments, business loans, staff payroll and more.
Protect Your Investments
By putting a personal disability income policy in place before a qualifying event, you can ensure your investments and savings are saved for your future retirement.
Meet Howard Silvermintz
As an attorney, you enjoy presenting your cases in a logical and sequential manner that covers all of the small details. You recognize that time is fleeting and a quintessential element when considering the outcome that will bring both you and your client to the arrived verdict. Can the same be said for your finances?
For over 33 years, I’ve helped Attorneys save thousands of dollars every year from money they were losing to taxes unknowingly, so that their retirement is something they look forward to rather than worry about.
Lawyers come to me when they:
- Want to work less than 40 years to financially support 85 years of life
- Realize their firm doesn’t/won’t provide everything they need
- Are unsure if they have an income that they won’t outlive
- Worry about inevitable situations that will cause a disruption in cash flow
- Are tired of giving all of their hard-earned money to the politicians in DC to blow
After a short time of partnering together as The Attorneys Advisor, my lawyers are able to:
- Rely on what they have built rather than on their firm
- Maintain their family’s lifestyle now and into their retirement
- Rely on a financial plan that’s specific to their successes in life
- Work closer to 25-30 years to secure an 85-year life
- Spend more quality time with their loved ones
Ready to talk?
If you are ready to count on someone with years of experience, who believes in coming up with a game plan, that is simple to follow, and provable, then I invite you to schedule a 20-minute introductory call.
An Agent You Can Trust
Howard Silvermintz is a licensed financial and insurance agent in the Greater Atlanta area, serving clients nationwide. For over 32 years, Howard has provided solutions for professionals to protect their financial future as well as their retirement goals.
Whether you’re looking for a routine review of your current coverages, of you’re just starting to research you & your family’s needs, Howard meets you where you’re at.
Years in Business
Average Satisfaction Rating
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Take the first step in securing your financial future.
The 5 Most Common Disability Myths for Lawyers
#1: I will/do make more than enough money to save for unexpected illnesses or accidents.
The average disability insurance claim lasts 31.6 months, and individual claims have a 38% chance of lasting 5+ years. Do you have 5 years of expenses saved? What happens if you become disabled before you’ve reached your full income potential, or been able to save accordingly? How will you pay your school loans should you be unable to work tomorrow?
#2: Attorneys don’t need disability because their work isn’t physical in nature.
Disability insurance isn’t just for those with physically-demanding jobs. Best-fit policies for attorneys provide money to cover household expenses should you become too ill to work, or have a disabling event such as a car accident.
#3: I’m very healthy; I don’t need it.
Absolutely everyone is susceptible to long-term disability in one way or another. Common causes of health-related disability insurance claims include cancer, accidental injuries, mental health disorders, cardiovascular disorders, and more. The time to lock in your eligibility is NOW – while you’re healthy.
#4: It’s too expensive.
Disability insurance never gets cheaper the more you age. The cheapest rate that will ever be available to you is NOW! By locking in your lowest-available rate now, you minimize the financial risk your family may face should you have a disabling event in the future. The fact is, disability insurance should be part of your diverse financial plan.
#5: Either Workers Compensation or Social Security will cover me if I become disabled.
Both include benefits that may aid you should you be unable to work (for qualifying events), but neither typically provide enough income to cover the average expenses of a disability claimant. Also note that most long-term disability claims are not actually work-related, therefore your Workers Compensation may not be available to claim against.
Ready to tackle your questions regarding Disability Insurance?
Testimonials & Recommendations
“Howard always goes the extra mile. He is a gentleman and a scholar, very thorough, and always seeks a win-win solution for everyone. Working with him is easy as he really listens and considers well-thought-out individual solutions for clients. I highly recommend doing business with him.”
Kim D. H. Butler
President, Partners for Prosperity | Co-Founder, Prosperity Economics Movement | Investopedia Top 100 Financial Advisor
“I’ve had the pleasure of working closely with Howard. What I admire most is his ability to listen. He doesn’t assume he knows what’s best for you or your company until all the details have been touched upon.“
– Kevin Cartmill
“I came to know Howard when I was looking to get insurance to protect my family. Howard is a true professional with a lot of experience in this area, was always on time, and addressed every question I had within a very short period of time. Howard presented all possible options including pros and cons for each, and helped me achieve the coverage I was looking for with a top quality company. I recommend Howard!”
– Oren Loulay
“Howard is a valuable resource for all things insurance and benefits. When it was time for me to upgrade, Howard was my first call. He was very patient with me, outlining the pros and cons of the various policies and really showed me how to decide for myself what was the best fit. He represents a true expert opinion on the subject and was worth every dollar. I recommend Howard without reservation and I’d work with him again. Thanks Howard.“
– Stu Lustman
“Knowledgeable, professional & thorough!“
– Steven Brown
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