Protecting Partners and Firms When Disability Strikes
A law firm depends on its partners — to bring in business, to win cases, to succeed. Each partner has earned success through law school, working around the clock as an associate, and finally being rewarded with a partnership and a period of high earning potential. A disability during this time can have a very negative effect on the partner, their family, and the firm.
A partner is likely to make a top salary but is also likely to have high expenses. And a disability has the potential to immediately impact the life they lead. Consider that traditional disability insurance may only replace a small percentage of a partner’s income. This gap has an effect on the partner’s family and the firm, who may feel compelled to cover some of the expenses the family incurs.
The Westport Group has worked with many American Law Top 100 firms to solve the coverage gap for partners across the country.
A closer look at partnership disability
Most highly compensated partners receive disability insurance as part of their benefits plan. But are they truly covered for all of their income needs?
Most disability plans fail to adequately protect all of a partner’s income. Without adequate coverage partners can't protect themselves and their families should they become disabled.
TWG’s signature solution for law firms
Through our innovative Partner Income Assurance Plan, TWG protects incomes up to $4 million and can provide up to $250,000 in monthly disability income benefits, giving highly compensated partners the security and coverage they need. And, programs are delivered on a guaranteed-issue basis with no medical underwriting.