One in four workers will become disabled before retirement age. Most disabilities are caused by sickness, not injuries in the workplace. Attorneys, computer software professionals, doctors, and other high earners have made their education and career a top priority in their lives. That’s why protecting their income and long-term earning potential from “what if” moments like a disability are critical. Disability Insurance provides necessary and important coverage with premiums that only cost about 1% of salary.
For business owners, owning a business comes with a variety of risks. It is important to understand the risk of a disability and be prepared and protected if that risk were to become a reality. Overhead Expense Disability Insurance and Disability Buy-Out Insurance are two options that can hep fulfill a business owner’s protection needs. It is crucial to have a business continuation plan in place, as well as coverage for routine business expenses should a disability occur.Connect with one of McKnight Advisory Group’s Advisors today to discuss your needs and options.