Disability Insurance for Business Owners & Professionals



As you probably know, it is wise to have disability insurance coverage to protect you and your family from loss of earnings in the event you become unable to work. Studies show that the possibility of permanent disability is far greater than death during a person's working lifetime. It can also have a much greater financial impact on the family.

Disability might not only remove a source of family income; it may also increase family expenditures, as the disabled person must be fed, clothed and sheltered, and the family may be faced with large, ongoing medical expenditures.

Disability insurance needs are usually based on the level of wages that would be lost if you were disabled. However, a more precise method may be needed if you have other income sources or special funding needs, such as unfunded education costs.

The benefits paid under a disability insurance policy can be totally tax-free to you, 100% taxable, or partially taxable depending on the type of policy, who pays the premiums, and whether or not they are paid with pretax dollars.

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