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Income Protection

Disability Solutions for Business Owners

For business owners, a disability not only affects personal income, it affects the business, too.  If you or one of your key employees suddenly became too sick or hurt to work, you could face a disability triple threat:

  • Keeping a roof over your head
  • Keeping your business open
  • Keeping your business investement intact

If you became too sick or hurt to work, in addition to protecting your income, you also need to be concerned about:

1. Paying business expenses:  Overhead Expense insurance is designed for owners of small- to medium-sized businesses whose personal service is key to the continued earning of business income.  It helps keep your business running while you recover from a disabling injury or illness.  It also helps you have a financially sound business to sell, should you need to do so. 

The benefits:

  • You'll be reimbursed each month while you're unable to work to help pay the bills associated with running your business (such as house payments, utilities, property taxes, etc. so you don't have to dip into assets)
  • Helps maintain goodwill with customers, vendors and creditors
  • Helps retain business value


2. Keeping the business investment intact:  Do you have a plan for the future of your business?  If you or one of your business partners became totally disabled and could not return to the business, do you have a plan or the means to buy out the disabled partner?

Protect your business from a permanent disability by funding a buy-sell agreement with Disability Buy-Out (DBO) insurance. It allows remaining owners to continue the business without using business cash flow, obtaining loans from financial institutions or selling shares of the business to get working capital.

The benefits to securing Disability Buy-Out (DBO) insurance:

  • Assures the disabled owner can be bought out at a predetermined price and time after a disability occurs.
  • Customers, creditors and employees are assured of business continuity.
  • Competitors cannot buy the disabled owner's business interest in the firm.
  • Current owners retain control of the business rather than the disabled owner's family members.
  • It provides money for the disabled partner to pay living and medical expenses


3. Protecting key employees:  You rely on your key people. They make significant contributions to your business.  Many employers protect their businesses from the loss of key employees due to death, but few protect against a key employee's Total Disability.  If one of them were no longer around due to a disability, what would that mean for the future of your business?  How would cash flow, revenues, profitability and morale be affected?  What would customers and creditors think?

Key Person Replacement insurance is an effective way to provide your business with the funds necessary to help handle the loss of a key employee and recruit and train a replacement. You (the business) pay the premium and are the owner of the policy insuring the key employee in the event of Total Disability. If the key employee becomes Totally Disabled, the business receives benefits, generally tax-free. Benefits can be used at your discretion. 

The value of this solution to your business:

  • Demonstrates financial stability to customers, creditors, shareholders and other stakeholders by having a contingency plan in place
  • Helps offset the costs of temporary staffing, finding a replacement and/or recruiting, filling revenue gaps, etc.


Protect your business and its future with Individual Disability Insurance solutions. To find out how much coverage you need request a quote.



Check the background of this financial professional on FINRA's BrokerCheck
Check the background of this financial professional on FINRA's BrokerCheck