New Income Protection Solutions For Businesses

New Income Protection Solutions For Businesses

We are excited to bring three new solutions to your marketplace and the opportunities they present to help you grow your business.

Key Person Replacement Insurance, the Business Loan Protection rider and the Supplemental Health Benefit rider are only offered by a few carriers, which is why we are the place to go for Individual Disability Insurance (DI).

Key Person Replacement (KPR) Insurance:

This policy is an efficient way to provide business clients with the funds necessary to handle the loss of a key employee due to a total disability.  Benefits can be used at the discretion of the employer, but common uses include:

  • Recruitment and training costs
  • Temporary staff needs
  • Indemnifies the company for lost revenue
  • Approved in 45 states
Business Loan Protection (BLP) rider:

In the event of a total disability, this rider reimburses the insured business owner for the covered business-related loan obligation.  The rider is available on the HH 702 Overhead Expense (OE) Insurance policy.  Examples of loans that can be covered under this rider include:

  • The purchase of a practice, existing business, equipment, building and/or land
  • The expansion of the business or practice
  • Facility renovations and improvements
  • And increase in working capital or build up of inventory
  • Approved in 46 states
Supplemental Health Benefit (SHB) rider:

This no-cost rider helps protect clients in the event of serious illness.  It provides a one-time lump sum benefit equal to six times an individual DI policy’s Maximum Monthly Disability Benefit and Social Insurance Substitute Benefit if the insured is disabled under the terms of the policy and has coronary artery by-pass graft surgery, cancer or a stroke.

Please contact your Disability Income Marketing Manager for details and availability in your state.

*Not available in all states.