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Disability Income Insurance

Own­ Occupation ­

This type of disability insurance policy pays benefits if you can’t perform “the material and substantial duties of your occupation” because of sickness or injury. “Your occupation” means your regular occupation at the time you become disabled. With Own-Occ coverage, you are not considered totally disabled–and receive benefits accordingly-as long as you are not able to work in your own occupation even if you are performing unrelated duties in a different occupation.

Overhead Expense Insurance ­

Helps pay your monthly expenses to keep the business up and running including the cost of a temporary replacement.

Disability Buy­Out Policy ­

Helps solve the funding problem should one of your partners become disabled and needs to leave the business. Policies are purchased for each owner or partner who would be eligible for buy­out in the case of his or her total disability.

Business Reducing Term Insurance ­

Helps meet fixed obligations such as business loans, student loans, purchase agreements or employment contracts. This type of disability insurance is used to fund these financial obligations.