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Disability Insurance Observer: Better Call You

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One way to look at “Breaking Bad” is that it’s the best American TV series, ever, about what can happen to people who fail to buy adequate life insurance.

Once you wait until you are already seriously ill to provide for your relatives, bad things can happen.

The prequel series, “Better Call Saul,” is, frankly, too frightening, from my perspective, for me to watch it very closely. I find myself going away to do the dishes and asking other, braver members of my household to tell me what happened.

But one point seems clear: There’s a medium-size law firm in the series, and the partners there would be much happier if they’d called Larry Schneider, or someone else with an interest in disability insurance, and bought a well-designed disability buy-sell plan.

Prospects might ask, “So, what’s a disability buy-sell plan?” One way to explain it to them now is to say, “It’s an insurance plan designed to keep a small or midsize company from ever having owner-on-owner conflict dramatic enough to be the focus of a hit series on AMC.”

Or, to put it another way: Business owners who like their partners had better call you to help them avoid ending up in a local, nonfiction version of “Better Call Saul.”

See also: Business succession planning: Look to life insurance

Another, harder-to-answer question is: Now that AMC has run a great series based on a serious failure in life insurance planning, and another series about a serious failure in disability risk management, one wonders what planning failure will the network dramatize next?

Maybe the voluntary benefits sellers of Albuquerque should be thinking hard about the deeper implications of lack of adequate dental insurance.


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