Pro Financial Services Products
PFS has developed unique insurance facilities that enable us to quote, bind and underwrite various types of insurance for all professions. PFS is well-known for creating innovative, proprietary insurance products for all specialty risks.
Temporary Total Disability (TTD)
TTD benefits are payable monthly for up to a maximum period of 60 months, with varying deductibles available from 30 days to one year. Naturally, the level of monthly benefits varies in accordance with the insured's salary or asset value to his or her company, team or practice.
Permanent Total Disability (PTD)
PTD is also available with benefits being paid in a lump sum 12 months after the insured is declared permanently disabled, and is prevented from ever performing his or her job duties. This product can be intertwined with a TTD benefit package. This would allow a corporation or individual to obtain a monthly TTD benefit for up to 60 months at which time, if the insured is declared permanently disabled as defined in the policy wording, an additional PTD lump sum benefit will be paid.
Both of these products protect against a disability that prevents an individual from performing his or her own occupation.
Confidential Death/Critical Asset Protection/Failure to Survive
The intent of this product is to insure an employee against death without the insured knowing that the company has purchased such a policy on his or her life. This quasi-life insurance policy does not require the insured to complete any applications or submit to medical examinations; only a statement from the purchasers that, to the best of their knowledge, the insured is healthy is required.
Kidnap and Ransom
This product is designed to protect corporations who have employees abroad or whose executives travel internationally. In the event that one of these employees is kidnapped and the company is forced to pay a ransom to insure his or her safe return, this policy would reimburse the company up to the limit of the policy for said individual. This coverage can be purchased for limits of $25,000,000 or more. The purchase of this coverage must be kept in the strictest confidence as it pertains to both the insured and anyone other than those paying for the policy.
Repatriation
In the event an insured becomes seriously injured or ill while traveling or wounded abroad, this policy pays the company's or individual's expenses for returning to the medical care center of his/her choice for treatment. This insures that the insured will receive care from doctors they are comfortable with in a location of their choice.
Accidental Death / Twenty-four (24) Hour Business Travel
This coverage protects employees/individuals in the event of death due to an accidental bodily injury while traveling. Less expensive than life insurance, this program is designed especially for executives who travel frequently and will reimburse either the corporation for the loss of services or the beneficiary as requested by the policy holder. Many corporations provide this benefit for thier upper management as either a voluntary or mandatory program.
Contingency Insurance
Contingency coverage is available to protect a company who sponsors outside events or bonuses to employees. For example, if a company were to sponsor a golf tournament or concert and the event were to be canceled for reasons outside the control of the company, this policy would reimburse the corporation for the amount the sponsorship cost. This is simply one example of the many possible applicaiotns for this coverage.
White Collar and Physicians Products
This class of coverage includes white collar professionals, such as lawyers and chief executive officers, as well as doctors, dentists and entertainers. Our focus on own-occupation coverage, benefit limits and policy terms has made our product superior in the marketplace. The physicians product is especially unique due to the intense focus on own-occupation coverage. Through financial underwriting, we are able to quantify the skill difference between the intricacies of being a neurosurgeon versus a neurologist. Like our sports products, we offer the highest limits availabe in the marketplace, combined with some of the best policy terms. The products are designed as supplemental coverage to policies most of our clients already have in force.
Personal Income Protection: Our products provide high-income professionals with enough coverage to maintain their lifestyle in the event of a temporary or permanent disability.
Key Man Insurance: This coverage, usually offered in the form of a lump sum, provides a company with the financial means to replace a critical employee and/or alleviate the immediate financial loss incurred as a result of a career-ending disability.
Loan Indemnification: Most small business owners require bank loans in order to obtain the necessary financial resources to launch a start-up company. Many times the lending institution will require that a disability policy be in force to provide protection from loan defaulting.
Buy/Sell Agreements: The policy would respond in the event one of the owners of a company suffered a permanent disability, giving the remaining owners the capital to buy-out the disabled partner
Business Overhead Expense: This product is often used by small companies or professionals who need to be healthy in order to cover the monthly costs of doing business. This covers everything from office rent and employees' salaries to office supplies. The same limits that are available for all other products are offered for this coverage if the company's expenses merit it.
Contractual Obligation: The purpose of this coverage is to protect a company against the loss of an employee who has a guaranteed financial compensation, whether physically able to work or not.
Retirement/Investment Strategies: PFS can provide coverage to protect ESOPs, defined benefit plan contributions as well as 412i plan contributions.
White Collar Group Coverage: PFS offers the most unique white collar group plans in the market today. The coverage can be voluntary or mandatory with slightly different underwriting specifications.
Learn More About Our Group Coverage
Accidental Death and Dismemberment (AD&D)
Accidental Death and Dismemberment insurance provides coverage for events resulting from accidental bodily injury only and does not include sickness or disease as the other coverages do. The benefit is structured as a lump sum and acts as a limited short-term life insurance policy.
In nearly all cases, this coverage is employer-purchased and can be issued on a group basis. Typically, teams and corporations elect to cover high-income earners in the event of a catastrophic event, such as a plane or bus crash.
NASCAR
Racing has been a component of the PFS book of business for many years. For nearly 25 years, all racing risks were written out of Lloyd's, London and consisted of the same policy term and benefits. In 2005 however, the PFS product underwent an extreme makeover. We have the exclusive capabilities in the marketplace to offer a three year policy term versus the industry standard of one year, as well as domestic paper through ACE American Insurance Company.
