In many small or closely held businesses or professional practices, a disabled owner or key employee can mean a disabled business, since the business loses a vital part of the operation. Not only will that person have difficulty continuing to draw a salary while being unable to participate in the business, but operating expenses continue as before, and employees will expect to be paid. These factors can place a small business in a very tight financial bind.
Yet, in spite of these risks, according to LIMRA, only 20 percent of small businesses carry individual disability income insurance; 11 percent carry this coverage to replace business income; and even fewer (just two percent) carry DI to fund a buy-sell agreement or to cover business overhead expenses.
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