Many business owners are laser-focused on building their companies and generating profits. However, not enough of them are aware of a huge risk lurking in the background.
Ready to hear something scary? Studies have shown that one-third of employed Americans today will become disabled for at least 90 days at some point in their future. Despite what many people believe, their biggest asset is not their home or even their carefully planned for retirement accounts. It’s their ability to earn a living. In the event that an individual cannot work for an extended period due to an illness or injury, disability insurance will pay a portion of an insured individual’s income.
There are various reasons a business may opt to purchase disability insurance:
- Disability insurance can serve as income replacement protection for their employees.
- It provides operating capital in the event a key employee is disabled, and the company’s income stream is interrupted as a result.
- Disability insurance can also help protect the value of a business.
- It can act as an additional motivator to attract and retain skilled, talented employees.
Want to learn about the various disability insurance offerings that help protect business owners and their employees? InternetCE is here to help with all your online North Carolina insurance continuing education needs! Click here to check out our newest course, “Business Owner Disability Possibilities” to learn more!