More surprising is that despite the high level of interest, many have not taken action to put protections in place. Only one in four business owners - 24 percent - has an individual disability insurance (IDI) policy, fewer than 1 in 10 (9 percent) of business owners have key person disability insurance, and fewer than 1 in 20 (4 percent) have a disability overhead expense plan in place.
What does this mean to you?
We know that business and income protection are issues keeping business owners awake at night. We also know they're failing to take the next step - probably due to lack of knowledge or fear of affordability.
How do you protect your business?
Key Person Life Insurance is insurance on the life of a key employee to help reimburse an employer for the economic loss
caused by the death of the employee.
Key Person Disability Insurance is an individual disability insurance policy designed to provide business owners
with the funds necessary to compensate for the loss of a key employee due to a total disability.
Disability Overhead Expense Insurance reimburses an owner for covered overhead expenses up to a specified amount when a disability occurs.
Download a free copy of the report, and then contact us for facts and information about ways to protect your business.