September, 2012
Valencia, CA- Petersen International Underwriters announces their release of a new Disability Insurance product intended to pay benefits based on an insured person’s potential future income. The plan, titled “Loss of Future Earnings Disability,” is an entirely new approach to protecting one’s income. Petersen International Underwriters designed the product and is the first in the industry to offer it.
“This is an exciting new step for the Disability Insurance market,” explains VP and Chief Marketing Officer of Petersen International Underwriters, Mark Petersen. “This plan allows for individuals, especially young professionals at the beginning of their careers, to protect not only their current financial obligations, but also their future lifestyles.”
Designed to provide a lump sum benefit in the case of the insured’s permanent disability, the plan features simplified medical underwriting and a true “own occupation” definition. This product is favorable among medical students and young physicians who currently earn modest wages, but whose salary is sure to significantly increase later in their careers.
“The problem with traditional disability insurance protection is that a person can only secure approximately 65% of their current income, and while this does protect their lifestyle today, it may not protect the future lifestyles of young professionals who are anticipating significant increases in their incomes,” Petersen continues. “These people stand to lose their dreams of a higher standard of living should a disability strike today as opposed to later in their careers.”
The Loss of Future Earnings Disability Plan fits the young professionals market by providing up to $1 million of additional disability protection to offset the potential loss of future income. LFE insurance has a very meaningful benefit, but can be purchased for very modest premium. The process involves simplified underwriting for individuals and guaranteed issue for employee groups and associations, with electronic application available to all.
Petersen International Underwriters is a 30-year Lloyd’s Coverholder and underwriting facility of Disability, Life, Medical and Contingency Insurance products. For more information visit www.piu.org or call 800.345.8816 or email piu@piu.org.
Petersen International Underwriters
23929 Valencia Boulevard, Second Floor, Valencia, CA 91355
www.piu.org • 800.234.8816 • info@piu.org
