ON OUR WAY TO WEALTHY: Even with the full understanding that some accidents and illnesses cannot be avoided, few small business owners plan for the unexpected. One step in the planning process is to make sure proper insurance coverage is in place.
For the most part, we are all accustomed to purchasing the basic insurance policies that cover our home, car and life. But there are different types of disability income insurance plans that will protect income and even pay bills when necessary.
Disability income insurance is designed to maintain financial stability when you are sick, hurt or unable to work by providing a monthly income directly to the business owner. It is typically used as the primary income replacement that helps prevent the depletion of savings and retirement income.
- Written by Carlee McCullough