Key Insurance Options for Personal &
Business Stability

Disability Insurance

Your income is one of your most valuable assets, enabling you to maintain your standard of living, pay bills, save for the future, and enjoy life’s simple pleasures. In essence, your income is the cornerstone of your financial stability and overall well-being. But have you ever considered what would happen if you suddenly couldn’t work and earn your income? Disability income insurance safeguards your financial foundation by providing essential support when you need it most, ensuring you can continue to meet your financial obligations and maintain your quality of life.

What is Disability Insurance?

An income-interrupting illness or injury can quickly disrupt your everyday life and plans, leaving you unable to work. Many people assume they have a fallback plan to protect their income, only to discover too late that this isn’t the case.
Disability income insurance (DI) provides a safety net by offering a monthly benefit that helps cover your essential expenses, such as your mortgage, utilities, and groceries, in the event of a covered disability.
This financial support ensures that even if you can’t work, you can still maintain your standard of living and focus on your recovery.

Understanding Disability Insurance is as Simple as 1-2-3

Many people are unfamiliar with disability income (DI) insurance and don’t know where to start when exploring a policy that fits their needs. Terms like “benefit period” and “elimination period” can be intimidating at first. However, answering these three questions can simplify your understanding of DI options and help you and your agent design the right plan for you:
  • How much do you need to cover your basic monthly expenses?
This determines your “benefit amount.”
  • How long might you need DI benefits to last?
This determines your “benefit period.”
  • How long could you go without a paycheck? This determines your "elimination period."
By considering these questions, you can more easily navigate the complexities of DI insurance and secure a policy tailored to your specific needs.

Business Expense Insurance

As a business owner, your daily efforts ensure that essential expenses like rent, utilities, employee salaries, and property and payroll taxes are covered. But have you considered the impact if you were to fall ill or get injured and couldn’t work?

What is Business Expense Insurance?

Also known as Business Overhead Expense (BOE), a Business Expense (BE) policy helps keep your business running by reimbursing you monthly for eligible fixed expenses if you experience an income-interrupting disability. You work hard to build your business. Protect it—and your livelihood—with BE.

Employee Salaries

Includes employees’ salaries except:
  • Salary of the insured
  • Someone who replaces the insured
  • Any family member working less than three months for the insured

Operational Expenses

Some examples:
  • Equipment (lease or rental) and tools
  • Office maintenance and repairs
  • Billing and collection fees
  • Postage

Facility Expenses

Some examples:
  • Lease or rent payments
  • Mortgage and loan interest
  • Property and liability insurance
  • Maintenance and utilities

Professional Expenses

Some examples:
  • Dues and subscriptions
  • Memberships (e.g., chamber of commerce)
  • Professional license fees

Taxes

Includes employees’ salaries except:
  • Property
  • Payroll
  • Depreciation

Return of Premium (ROP) Rider

Available at additional cost, the ROP rider provides DI coverage if you need it and money back if you don’t.
This rider allows for a 100% return of the premium paid, less than any benefits received, for people aged 65 to 67. Beginning with the 5th policy year, you may receive a portion of the premiums paid, less any benefits received.
The policy ends after the return of the premium is paid and may not be reinstated.