Commercial - Disability Insurance

What is a Disability Insurance?

Commercial Disability Insurance is a policy designed to protect a business if a key employee or owner becomes disabled and unable to work.

It helps cover lost income, business expenses, or the costs associated with replacing a disabled person.

It ensures business continuity, meaning the business can continue to operate despite the absence of a key person. It helps replace lost income caused by the absence of a key person. It covers overhead costs, so the business doesn't have to close.

This type of insurance is suitable for:

• Small businesses: Especially those with a single owner or a small number of key employees.
• Service businesses: Such as law firms or consulting firms that rely on a few key people.
• High-risk industries: Where employees are more vulnerable to accidents.

Types of Commercial Disability Insurance:

1. Key Person Disability Insurance:

Covers financial losses if a key individual (owner or senior employee) becomes disabled. It compensates the business, not the disabled person.

2. Business Overhead Expense Insurance:

Covers operating expenses like rent, salaries, and utilities if the owner or key employee becomes disabled.