A Business Owner needs to cover Personal Income and Business Expenses to meet ongoing financial obligations. So Disability Insurance for Business Owners is more complex than most other situations.
You need a comprehensive policy, covering your exact occupational specialty. This is called “Own-Occupation Disability Insurance”. But there are other features important features a Business Owner needs. Such as Partial & Residual Coverage, Recurrent Coverage, Catastrophic Coverage, Home & Work Modifications, Future Income Increases, and other benefits.
Then there are Ongoing Business Expenses to worry about. To cover this, Business Overhead Expense Insurance is often needed. This is a separate policy that acts as Disability Insurance for your Business Expenses.
Own-Occupation Coverage – Disability Insurance for Business Owners
Business Owners need “Own-Occupation Disability Insurance”. This means the policy pays benefits based on your specific occupation and specialty. Low
