Disability Insurance is intended to protect your income which is your greatest asset.
If you are disabled, your ability to earn an income, pay bills, or save for retirement will not be possible.
Types of Disability Plans: Individual Disability, Office Expense, and Overhead Disability, Buy/Sell Agreements, and Key Person Insurance.
Your most valuable asset is YOU and your ability to earn income.
Individual Disability Plans pays you a monthly benefit to replace any income you might lose in the event of an accident or illness.
An overhead expense policy reimburses covered fixed business expenses during the disability of an insured owner.
The agreements outlined the expectations of all those involved in the event of a disability. In accordance with the provisions of your agreement, this insurance plan can help provide the funds necessary to purchase the shares of a partner who can no longer work.
A Buy/Sell Agreement is a legally enforceable contract between two or more partners or shareholders that clearly outlines exactly what will happen if a partner becomes permanently disabled.
This plan provides funds to help secure a replacement or a key person. Benefits are paid directly to the Business and is a comprehensive disability policy that will provide benefits in the event a key person were to become disabled due to an illness.
