Disability Insurance Business Owners

By: forteinsdisabledinsurances
Posted August 20, 2021

Disability insurance may be the last thought in the life of a busy business owner and who can blame them, right?

Business owners know the challenges of operating a business. Employees, customers, and venders are an ongoing concern. Businesses need to manage employees and make payroll. Sales and marketing breathe life into the company, grow profits and reward business owners. These things are all important.

The individual that is often responsible for making all these things possible is the business owner. This is the person that knows all the details of the business. They know what it takes to run the business. They know the ins and outs. From great to small, the business owner is as valuable to the business as the business itself.

This is why it is often the case that when a business owner dies, (or worse) becomes disabled, the business dies with them.

A business owner that can’t work is a bad thing for the business and everyone that depends on that business. The ability to make payroll can weaken. Suppliers, venders and lenders may get worried about the ongoing concern of the business and its ability to meet its obligations.

In a short time the business may crumble without its leader, without financial support.

And that is what disability insurance does so well. It provides a financial safety net when it is need most, when the business owner is unable to work due to a disabling condition.

Disability insurance is made for times like these. It pays employees to keep working. It lets others know you won’t default on your obligations. It turns on and powers equipment for the business. It pays the utility bills. It keeps the business running like a business so that you can focus your health.


Sidenote: People may have a hard time wanting to think about disability, but the reality is that disability does not have to mean a worst-case scenario to be affected. For purposes of disability insurance, disability means that you cannot do your job because of an illness, injury, accident, or mental impairment. Practically anything that happens to you that prevents you from working may be considered a disability for insurance purposes. The disability does not have to be a lifelong disastrous situation. A person can be temporarily or partially disabled for insurance purposes (unable to do their job), however, and still be compensated with disability insurance proceeds.   

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