FINANCIAL UNDERWRITING REQUIREMENTS
FOR INDIVIDUAL DISABILITY INSURANCE
| 0 - $1,999 | W-2's or current paystub |
| $2,000 - $7,499 | 1 Year tax return with W-2's |
| $7,500 + | 2 Years tax return with W-2's |
FOR RETIREMENT PROTECTION PLUS PROGRAM
Submit a copy of the retirement plan document and last two year's contributions if the plan is profit sharing. Also submit appropriate documentation as shown below:
| Non-owner emplohyee: | Pay stub with YTD earnings |
| Sole proprietor: | 1040 with all schedules |
| Partnership: | 1040 & 1065 with all schedules |
| S Corp owner: | 1040 with W-2, 1120S with all schedules* |
| C Corp owner: | 1040 with W-2, 1120 with all schedules* |
| LLC or LLP: | 1040 with W-2, 1065 or 1120 with all schedules |
*As 1120 shows amount of contributions for the entire firm, if there is more than one owner, we will also need a statement to verify the applicant's portion of the total contribution.
FOR OVERHEAD EXPENSE
Entity Tax Return
FOR BUSINESS REDUCING TERM
Copy of Loan Agreement (or other agreement evidencing indebtedness)
Note: Please get the entire tax return, not just the first few pages. It will save you time, energy, and embarrassment. If you ask for everything "up front," you will get it, but there are few things worse than having to go back to your client to ask for additional pages because you did not get the entire return initially. Also, be sure to obtain a W-2 for the proposed insured if it is a joint return.