Fail Safe Plan

Discussion in 'Lawn Mowing' started by procut, Feb 4, 2005.

  1. procut

    procut LawnSite Bronze Member
    Posts: 1,853

    Do you guys have a plan in case you are injured, sick, have a family emergency, and cannot work for a while?
     
  2. Gene $immons

    Gene $immons LawnSite Bronze Member
    Posts: 1,028

    I have major medical insurance coverage, through my wifes job.

    I have employees/crews which operate without me during the peak season so they are more than capable of "running the show".

    Thats my situation.
     
  3. YardPro

    YardPro LawnSite Gold Member
    Posts: 3,563


    employees

    i used to race motocross. I have just gave it up last year, due to 3 hospitalizaions in two years. then several surgeries.

    if i had not had employees to keep things going i would have been screwed.
     
  4. Mo Green

    Mo Green LawnSite Bronze Member
    Posts: 1,487

    I have full medical coverage through my full time employer.
     
  5. lawnprosteveo

    lawnprosteveo LawnSite Bronze Member
    from Tulsa
    Posts: 1,930

    I broke my ankle last fall. I had no idea how leaf season was going to get done. My beautiful wife "manned up" and took over the business. She drove my long bed F250 with trailer (she'd never done that before) and ran all the equipment. I had a couple of kids help her out. She did great!
     
  6. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    Ditto...without them I'm up the proverbial creek without sufficient means of locomotion :)
     
  7. MacPhersonlawn

    MacPhersonlawn LawnSite Member
    Posts: 170

    I have medical Ins through my wife's employer. I have a full pension from my previous employer, got a very early retirement. As I'm now 57 I need to get someone who can take over at least the operations end of the business. Talking with someone now, maybe by the 2006 season. If something happens to me right now I will lose the business.
     
  8. newbomb

    newbomb LawnSite Senior Member
    Posts: 391

    I hope to go solo soon. When that happens, I will buy medical insurance the first year and then look at insurance to cover lost income the second season. For right now I just keep a noose tied in the basement. :) With my luck though I'd break my legs and not be able to get down there. :) :)

    -Paul

    P.S. I have AFLAC on my job but have found through accidents that I spent much more than I ever will collect. I don't think it was a wise move and I would caution anyone thinking about this type of coverage to really look at the payouts vs premiums.
     
  9. Drew Gemma

    Drew Gemma LawnSite Bronze Member
    Posts: 1,511

    I have a diability or long term sickness policy that pays me up to 5 years. I get about 2,500.00 a month after taxes not bad. Or I just can rob a bank or 2 until things get better.
     

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