There are many stories about business ruin, bankruptcy, and financial disaster caused by an unexpected accident, a mental setback, or the diagnosis of an illness. And many of the people who share these stories had good health insurance, but they suffered financially because neither their personal income nor their business expenses were insured.
You can't know when a disabling event could strike, nor its extent or duration, but you can prepare for the possibility. Knowing that you have a "just in case" plan for yourself and your business can help reduce your financial stress.
Even if you don’t think an illness or injury will happen to you, you may feel better knowing you’ve at least planned for the possibility.
Question: What happens to my personal and household income If I am unable to be at work due to a health crisis?
Answer: Individual income protection will pay you a portion of your lost income so you can continue to meet your personal and household routine monthly expenses during your work absence.
That's peace of mind.
Question: How would I meet my business overhead expense obligations if I could not work due to a health crisis? My business would still need to meet its routine, day-to-day expenses — including rent, utilities, payroll, etc. The bills would pile up.
Answer: Business expense protection will pay to help your business stay on track during your absence by providing the funds needed to pay business bills until you are able to return.
Question: What happens if my best and key employee is out of commission for a while due to a health crisis? Wouldn't my business suffer?
Answer: Your company owned key person income protection will provide the cash flow the company needs to move forward and maintain a profit until that key person is either back at work, or you find a replacement.
Question: What happens if I or any of my active business partner(s) cannot continue working due to illness or injury? How would either of us move forward financially without the other?
Answer: A business buyout disability protection plan will provide funds the healthy partner will need to buy the other partner’s share of the business at a pre-arranged price based on the valuation of our business.
Question: What happens if I or my business partner(s) cannot continue working due to illness or injury? How would either of us move forward financially without the other?
Answer: Our buyout protection will provide funds the healthy partner will need to buy the other partner’s share of the business at a pre-arranged price based on the valuation of our business.
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