Disability Income Insurance for Business Owners

You protect your home, car, phone and identity. Why not protect your income?

You invested physically, emotionally and financially into your business—don’t let your hard work and dreams end because of a disability. Only 49% of American adults have enough savings to cover three months of expenses if they were not earning income due to a disability. ¹

Your ability to earn an income is your greatest asset. You worked hard to reach your current educational and professional level. Sickness or injury can result in uncertainty for you and your family and put your career and your business on hold. Instead, consider how disability income insurance for business owners is a critical part of your business plan.

Whether or not you recover from a disability, you want to position yourself so you can focus on getting better and returning to work – or have the option of keeping the business open until you’re ready to sell it.

There are many reasons why you should protect your business with disability income insurance both for yourself and for the shareholders of your company.

Protect your own income

Personal expenses often go up, not down, during a time of recovery. Designed to replace 60% or more of income to help you pay your bills, mortgage payments and other critical expenses—individual disability income insurance allows you to take less money out of your business at a vulnerable time and still help preserve your standard of living.

Maintain business continuity

Your business counts on your leadership. Imagine what could happen to your business if you were to leave with no notice or replacement. Not only does your business rely on your hard work, but it also relies on your day-to-day management. Disability income insurance can cover the cost of hiring temporary help while you’re away to keep your business running smoothly.

Disability income is important at all ages

A myth of disability income insurance is that it isn’t needed when you’re young and/or healthy. However, one in four of today’s 20-year-olds will become disabled before they retire. ¹  Back injuries, cancer, heart disease and other illnesses cause most long-term work absences, which can occur at any age.

Consider BOE insurance

Business Overhead Expense (BOE) insurance provides that solid foundation for the financial future of your business.

BOE insurance helps cover business expenses during a disability. If a sickness or injury prevents you from working, this coverage can help keep your business running. In this case, the business’s fixed expenses, such as rent, utilities, employee wages and debt payments continue even though your revenue-producing abilities are gone.

Essential disability income insurance protection for your employees

Your employees are vital to your business. But what if an illness or injury affects one or more of them? Do you have an adequate disability income insurance program in place? A disability income insurance benefit can help offer financial protection and needed income for your employees in the event they experience a long-term illness or disabling injury. This can be a critical tool to help attract and retain your top employees.

Ameritas is here to help you and your business

As a mutual organization, backed with financial strength, Ameritas Life Insurance Corp. is a leading provider of disability income insurance. By putting your trust in us, you’ll receive a wide range of benefits and services while protecting what matters most.

Life can never be free from uncertainty. But when uncertainty is minimized, life can be maximized. Our diversified products and services help individuals, families and businesses protect what matters most. Learn more about disability income insurance with Ameritas. 

Sources and References:
Council for Disability Awareness