MKA Executive Planners Blog

Person Down & Out – What’s Next??? Rescued by Thinking Ahead

Posted by Barry Koslow on Tue, Oct, 30, 2018

You run a business or a professional practice. It is successful. You have a group of employees, along with yourself, who are key to business success. It is a great team. Margins are okay, but not great, and you or one of your key people becomes disabled and won’t return to work for a significant period of time – or ever.

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Tags: Key Person Insurance, Disability Income Protection, Out of Work

Not-For-Profit Key People – The Unmeasured and Unprotected Risk

Posted by Barry Koslow on Mon, Oct, 22, 2018

When Richard E. Wiley passed away recently, he left a huge legacy at Endicott College. As its long time President, he grew the school from what was once a small regional two-year associates degree player to a nationally known multifaceted institution offering bachelors, masters and doctoral degrees. There are three campuses and a large range of options for study. It has an endowment in excess of $60 million, a 50% increase within the last five years.

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Tags: Key Person Insurance, Board Responsibility, Not For Profit, Compensation, Disability Income Protection, Loss of Income, Out of Work

Beckham’s Ankle Didn’t Bend

Posted by Barry Koslow on Wed, Sep, 27, 2017

According to news reports, New York Giants star receiver Odell Beckham, Jr., is thinking about purchasing a $100 million (yup, $100,000,000) policy to protect the value of his earning potential in the event he is injured and cannot earn pay at his current ability level.  The importance of this was brought home when he sprained an ankle at a recent pre-season game.

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Tags: Disability Income Protection, Disability Insurance, Executive Disability

How do you like being in the self-insurance business?

Posted by Barry Koslow on Thu, Jul, 20, 2017

“What?”, you say.  Yes, there are many significant risks out there, and you buy commercial insurance to absorb them.  Autos, homes and other property are insured.  You have liability insurance.  You have medical insurance.  You have dental insurance – and maybe life insurance.  But, actually, you hold all those risks.  You have chosen to “reinsure” them in full or in part with a business that specializes in covering unaffordable risk.  You get to pick the maximum amounts payable and deductibles, absorbing the affordable exposures that you did not cover.

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Tags: Disability Insurance, Disability Income Protection, Executive Disability

The Executive Disability Protection Fallacy

Posted by Barry Koslow on Thu, Mar, 09, 2017

Executives generally are not aware that they have shortfalls and gaps in their broad based group long term disability coverage.  This applies to both the size of the monthly benefit and the language in the contract that the insurer uses to accept or deny claims.

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Tags: Disability Insurance, Disability Income Protection, Executive Disability, Long Term Disability, Disability Insurance Limitations, Disability Insurance Exclusions