What Kind Of Business Protection Is Available In The Event Of Disability?
Income replacement insurance is particularly important if you own a small business. In addition to standard disability policies, some polices have such special features as:
- Recovery benefits that pay after you return to work full time, during the period in which you are reestablishing a customer or client base.
- Overhead expense coverage that pays for certain office expenses, over and above the disability benefits that replace personal income.
- For jointly owned businesses, a disability buy-out policy disburses funds for one partner, or the business entity, to buy a disabled partner's share of the business.
- Key-person insurance, which protects a firm against the loss of income resulting from the disability of a key employee.
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