Disability Income for Key Employees and Owners
While most companies recognize the importance of carrying life insurance on the owner and key employees, the facts show that an unexpected disability as far more likely to occur than a death. That means, without individual disability insurance on your key employees (and yourself), your organization could be missing a vital aspect of insurance coverage that helps ensure the financial security of your key talent and even your company.
Unfortunately, many companies and professionals discover this the hard way; when a highly compensated executive or professional suffers a long-term illness or serious accident and has to manage a physical recovery with as little as 20% – 40% of their pre-disability income.


What’s the risk?
- Your biggest Asset – Your ability to earn an income is what makes all things possible.
- The company needs you – If you are an owner or key employee, how will your role be met if you cannot work?
- Bucking the trends – People are simply living and working longer today. With each new role, comes added responsibility to yourself, the company and your family. Your ability to earn is your biggest asset by far.
Goals of an Individual Disability Income plan:
- We can help you improve the value of benefit expenditures for yourself and key employees
- Your new individual disability income plan plan will promote long term employment stability among your key employees
- Having your own individual disability income plan will eliminate the discrimination towards owners and key employees that exists with group long term disability plans
- Your new plan creates a workable solution for you and other key employees in the event of a disability.
Let’s talk about what we can do about making sure that a disability doesn’t ruin your company financially or devastate a family. Business Planning Group can assist you in developing, launching, and managing an individual disability plan to insure you and you r key employees. We can do this by developing a customized benefit plans that meets the needs of the owners and key employees.
chart sources: https://www.dol.gov/odep/topics/disabilityemploymentstatistics.htm and https://www.ssa.gov/oact/STATS/table4c6.html