Disability insurance allows
businessman time to regroup

The foresight to buy and maintain a small business owner's insurance policy allowed this man an opportunity to start over after a worsening case of chronic depression, stress and burnout sidelined him.

"I didn't even know I had insurance that would cover my situation," he said. "It was part of a small business owner's policy put together by my insurance agent."

When his doctor ordered an extended R&R, he didn't know how he could do it until he reviewed his policy and found that it included the disability coverage. His doctor and insurance agent assisted in filing the appropriate paperwork, and the claim was approved though it took several months for the first check to arrive.

"The insurance company sent me a check every month for about 18 months while I spent A LOT of time de-stressing. I also spent a lot of time in counseling to learn how to manage my depression. My doctor also got me stabilized on antidepressants."

To his surprise one day, he received a letter from the insurance company asking to meet with him. They wanted to buy out his insurance policy with a lump sum payment.

"I really was starting to feel better and wanting to get back to my work, but I didn't have the resources to do much."

The company representative offered two alternatives -- accept a sizable lump sum and terminate the policy coverage, or submit to a battery of tests from insurance representatives and physicians with the risk of having the current claim closed. It almost sounded like a threat.

"I didn't want to lose the insurance coverage in case I had any future problems, but the amount of money they were offering was enough for me to start a new business. I chose the lump sum, and after signing a release, the money appeared in my bank account the next day.

Feeling rejuvenated by the 18-month rest, he bought a small company and started working again, forever thankful to the insurance agent who sold him the original insurance policy.

"I don't know what would have happened if I didn't have that insurance. It really saved me."

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