Disability insurance is often used by businesses as an effective tool for their protection planning strategies. Disability income insurance can help replace a portion of an income, either an owner’s or an employee’s, should they become too sick or hurt to work. For many employers, offering supplemental individual disability income insurance to employees is a great way to help you recruit, reward, and retain the valuable contributors of your organization.
Related Information
What is it?
Individual disability income insurance provides a greater amount of disability income protection to supplement employer provided group disability benefits.
How is it used?
For businesses, disability income insurance can be used to provide a more meaningful benefit to employees. It can also be used to keep the business up and running, or to provide multiple owners with a buy-out option in the event of a disability.
What are the benefits?
Offering supplemental disability income insurance to employees is often a great way to recruit, retain, and reward employees. For business organizations, a disability income insurance policy can help with the organization's financial obligations.
How can disability income insurance help meet your business needs?
For Business Owners
Provides funds to reimburse owners for regular overhead expenses.
Provides funds for the purchase of insured's share of ownership.
Provides benefits to owners to help replace a portion of their income.
Establishes a plan to address employee disabilities.
For Employers / Benefit Managers
Offered to employees on a voluntary basis, or as a company-paid benefit.
Supplements employer-provided disability income group benefits.
Can help protect an employee's ability to save for retirement.
Offered to employees on a voluntary basis, or as a company-paid benefit.
Prefer to speak to someone about disability income insurance?
TALK TO A FINANCIAL PROFESSIONAL
Disability income insurance policies have exclusions and limitations. For costs and complete details of coverage call your agent.