Excess & Surplus Disability Insurance is a line of insurance that can be accessed and utilized by individuals whose needs extend beyond the capabilities of U.S. admitted disability insurance carriers.
The most common type of Excess & Surplus Disability Insurance is referred to as Disability Income Protection, an insurance product that protects an individual’s future income in the event they become seriously injured or sick. These programs are often utilized to provide a supplemental safeguard for future income of highly compensated individuals when the traditional domestic insurance markets are insufficient. In addition to providing supplemental coverage, these programs can be accessed for those whose occupations carry unusual financial patterns or elevated risk to one’s health, for example entertainers and professional athletes.
Ideal candidates for an Excess & Surplus Disability Insurance policy include:
- High earning executives
- Hedge fund and private equity professionals
- Technology experts
- Attorneys
- Specialty physicians
- Entertainers (actors, actresses, singers, musicians, song writers, etc.)
- Professional and college athletes (and coaches)
The lesser known types of Excess & Surplus Disability Insurance are the business products that are utilized by successful corporations and privately held businesses. In this group of programs you’ll find Key Person Disability Insurance, Buy-Sell Disability Insurance, Business Overhead Expense Coverage, and Disability Loan Indemnification.