MKA Executive Planners Blog

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

In Business, Everyone Is NOT Replaceable… at least not right away

Posted by Ed Perry on Thu, Jul, 13, 2017

We have all heard the saying that in business, everyone can be replaced. This simply isn’t true. As a business owner, think for a second about what would happen to your business if you died, or became unable to work due to illness or accident? What if it was your star performer? Or a member of your leadership team? Think about that void. Think about all the impacts to your business that you may not have considered before.
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Tags: Disability Insurance, Executive Disability, Life Insurance, Long Term Disability, Key Person Insurance

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

A Financial Planning “Oops”

Posted by Barry Koslow on Thu, Dec, 22, 2016

While driving to see a client not too long ago, I heard a commercial for a local investment advisor on a local radio station, ostensibly a recording of some thoughts on how his firm might plan for a young couple in the event the husband was to die in the near future.  Both husband and wife were employed. They had two young children.  

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Tags: Life Insurance, Disability Insurance

The Empress’ Disability Policy – Now You See It ---Oops!

Posted by Barry Koslow on Tue, May, 20, 2014

This is a story about disappearing disability income benefits.  One of the worst tragedies that can befall an executive, professional or business owner is an extended period of disability as a result of accident or illness. 

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Tags: Disability Insurance, Compensation, Executive Compensation

Catastrophe -- Key Player Hit by Total & Permanent Disability

Posted by Barry Koslow on Mon, Mar, 24, 2014

You're on your way.  Your company recently completed a round of serious financing from a major hedge fund and several significant individual investors.  Management has been beefed up so that the "idea gal" can focus on what she does best -- building the greatest and newest health gizmo, one that will improve outcomes and reduce costs.

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Tags: Disability Insurance, Board Responsibility, Executive Compensation

The Case for Disability Insurance Protection

Posted by Robert Mitchell on Tue, Dec, 17, 2013

For most employed Americans their most valuable financial asset is not their house, car or other possessions.  It is the paycheck.  The ability to earn a living today and into the future determines our quality of life.  If your paycheck stops due to illness or injury will you be able to meet your on-going cash flow needs and future financial obligations? 

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Tags: Disability Insurance