Disability Insurance For Business Owners

Are you protecting the right asset?



How solid is your financial foundation?

You may have spent years building and nurturing your business. That hard work has resulted in a foundation for a successful business. Yet, is that foundation as strong as it should be? 

As a business owner you face a triple threat:

If you became disabled and couldn’t run your business, how would you pay your utilities, your lease or employee salaries? Would you have to spend your hard earned savings, your retirement assets or even your child’s college education funds to make ends meet at home? As a business owner you have three key threats in the event of disability.

  1. keeping a roof over your head. You’re ability to work and earn an income is your most valuable asset
  2. keeping your business’ door open. If you become too sick or hurt to work, would your customers take their business elsewhere?
  3. keeping your business investment intact. What impact would your disability or partners disability have on the business?

It’s important to protect yourself and your business against the unexpected. Think about the effect on your business and your employees if a disabling illness or injury leaves you, another owner or a key employee too sick or hurt to work.

Business owners rank business protection as their #1 priority and income protection as their #2 priority. Most business owners realize even a temporary closing can be financially devastating to the business, yet half of business owners do not have to any type of disability coverage for themselves or their key employees. Business protection insurance helps maintain business value and credit ratings. Having benefits to reimburse business expenses helps ensure the doors of the business remain open in the event of a business owners or key employee’s disability. Overhead insurance serves as interruption protection if the owner becomes too sick or hurt to work. Disability Buy-out insurance funds the purchase of a disabled business owners interest under a buy sell agreement without using business cash flow, attaining loans from a bank or having to sell shares of the business to get working capital. Key person replacement insurance provides benefits to business in the event a key employee who is critical to the success of the business becomes disabled. Did you know the average cost to replace an employee is 1.5 times his or her salary? Fort op performers, that cost typically runs between 2 and 3 times their salary.

Help your employees protect their retirement dreams

Workers rank their ability to earn an income and their retirement savings as their #1 and #2 most valuable financial resource. More than 69% of the workforce has no long-term disability insurance.  Retirement funds and dreams are at risk as contributions to a 401(k) plans, employer matches and Social Security contributions will cease. Consider Employer-paid Group and  Voluntary Payroll-deduction coverage.

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  • Personal Income 
  • Key-person insurance 
  • Overhead Protection 
  • Buy-out coverage
  • Employer paid Group benefits
  • Voluntary Payroll-deduction benefits

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