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.

What is it?

Individual disability income insurance is designed to supplement employer-provided group long-term 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

BUSINESS OVERHEAD EXPENSE (BOE)

Provides funds to reimburse owners for regular overhead expenses.

BUY-SELL

Provides funds for the purchase of insured's share of ownership.

INDIVIDUAL DISABILITY INCOME PROTECTION

Provides benefits to owners to help replace a portion of their income.

QUALIFIED SICK PAY PLAN

Establishes a plan to address employee disabilities.

For Employers / Benefit Managers

EXECUTIVE CARVE-OUT

Offered to employees on a voluntary basis, or as a company-paid benefit.

INDIVIDUAL FULLY UNDERWRITTEN

Supplements employer-provided disability income group benefits.

RETIRE GUARD

Can help protect an employee's ability to save for retirement.

WORKSITE DISABILITY INCOME INSURANCE

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.

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