You work in order to purchase the necessities of life. You insure your house, car and other items you purchase, why not insure the one thing that makes it all possible, your ability to make an income.

Benefits can start in as little as 30 days or as long as 6 months. Some plans are specific i.e.: accident, while some pay for any event that prevents you from working.

Long Term Disability

Benefits can start from 30 days to as long as 1 year and continue from 5 years to age 65, depending on your occupation. Some policies define disability as the ability to perform any work while some define disability as your "Own Occupation". "Own Occupation" disability policies are usually available to professional workers with "Own Occupation" being defined anywhere from 2 years to lifetime, depending on the issuing company and your occupation. Available as a group or individual policy, most policies have a rehabilitation/retraining benefit so you can return to work. Premiums are determined by your health, occupation and age at time of application with some policies locking in your premium rate while others increase at certain ages.

Business Overhead Expense

A disability income policy that pays for the expense of keeping your business up and running while you recover from illness or injury. It allows you to "keep the doors open" without using the benefits from your personal disability policy or depleting your assets. If your disability is long term this allows you to market your business as a going concern and possibly avoid a fire sale.