Help protect your income and your business if you become disabled

Help protect your income and your business if you become disabled

Owning a business is not just about you. You know that. It’s also about your employees and your family who rely on the income generated by the business. But, do you sometimes forget it is about you too? More importantly, if a disability sidelines you, what happens to the business?

You are the driving force of your business, and the bankroll. You plan for everything - or maybe not. Have you planned for disability? Perhaps you offer coverage to your employees. But, what about your own risks?

Understanding the risks

Here’s just one statistic from the Council for Disability Awareness (CDA), an insurance industry group: One in four people entering the workforce will be disabled before retirement and can expect to be off the job for an average of 34.6 months.1 Not being able to work for nearly three years can take its toll on your business, and also on your life.

Protecting both personal and business income

There is good news. With disability income (DI) insurance, you can protect both your personal income and your business. You simply need two policies - one for individual and one for business:

  • Individual – this is for your income coverage. Think about what would happen at home without your income. Can you still pay the mortgage, bills, car payments, etc.?
  • Business – this is overhead coverage. Consider payroll, employee benefits, rent, utilities, and any equipment or vehicle leases. Can you cover these if you are too sick or hurt to work?

It's more than accidents

You might think disability only includes accidents and probably wouldn’t happen to you. Here’s another fact that might surprise you. Heart disease, back problems, cancer and other medical problems are more likely to cause disability than accidents. 

It’s worth your time to learn more about DI for both purposes: personal and business. 

We’re here to help

Talk to your Ohio National financial professional today about how DI works and why it is so important.

1Source: Council for Disability Awareness, Disability Statistics (2018), https://disabilitycanhappen.org/disability-statistic/

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Disability income insurance policies issued by Ohio National Life Assurance Corporation. Product, product features and rider availability vary by state. Guarantees are based upon the claims-paying ability of the issuer. Disability income insurance is not available in CA. Issuers not licensed to conduct business in NY.

Disability income insurance policies contain exclusions, limitations, reduction of benefits and terms under which the policy may be continued in force or discontinued. For complete details of coverage, contact your financial professional or the company.

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