Small business owners face crushing monthly expenses if illness or injury forces them out of work. Disability insurance protects your business operations, keeps employees paid, and prevents you from draining retirement savings or losing clients while you recover.
Chapters
As small business owners or professional practitioners, we are responsible for some or all of the monthly expenses required to keep our office open. But if we experience a serious illness like cancer or a heart attack or a serious injury to our neck or back as the result of a traffic accident or some sort of recreational accident and we cannot return to work for several months, will our partners or employees be able to pay these expenses without us there? If not, how would we keep up with our financial obligations? Borrow the money from our retirement plan? Take the funds out of our personal savings? If not, we could be forced to close the business, dismiss our employees, and lose the customers, clients, or patients we've worked so hard and so long to acquire. The ability to continue business operations while you are disabled can be reassuring to your creditors and your employees.