In many cases, people who become disabled don’t completely lose the ability to work, yet can still experience a significant loss of income. The best attorney disability insurance plans cover many circumstances other than a complete and total disability. It isn’t uncommon for attorneys to experience disability-related loss of income without ever going through a period of time during which they are completely unable to work. That’s why the best disability insurance for lawyers includes residual disability coverage that doesn’t require the loss of time and duties in order to pay disabilities.
The Importance of Disability Insurance for Attorneys
Having a sound cash flow protection plan is something that most attorneys should do. It’s a fact that in essence, most attorneys in private practice work as a fee for service professionals.
An attorney who becomes unable to work as the result of a disability will have no means of generating an income until he or she is able to go back to work. Even then, it can take quite a bit of time for the lawyer to bring in enough business to get his or her billable hours to the level they were prior to becoming disabled. That’s why a cash flow protection plan for attorneys is so important. No lawyer can afford to be without the security of a solid cash flow protection plan.