The Business Need for Disability Insurance

As a business owner, you have spreadsheets, balance sheets, profit and loss statements, tax filings, and an endless array of documents available to tell you daily how much money it takes to keep your business going. You are on top it, and no doubt you take great pride in what you are building. That's one of the best reasons for protecting it against financial loss should you suffer a disabling event or disease.

The expenses reflected on all those financial documents don’t stop if a disability, yours or that of another key employee, should cause the business’s income to be reduced or stopped all together for an extended period of time.

A good business plan includes managing the risk of any potential threats to the business. The threat of a disability during your working years is real and disability insurance protection needs to part of your business plan.

There are several kinds of disability insurance to consider in order to protect your business:

Individual Disability Income Insurance for personal protection.
Group Disability Income Insurance to protect your employees and make it easier to recruit additional quality employees.
Disability Overhead Expense insurance provides a monthly benefit geared toward covering the business’s fixed overhead expenses.
Disability Buy-Out insurance makes funds available to the business to help buy out a disabled owner.
Key Person Disability insurance makes payments to the business in the event a key person is disabled.

Your goal is to meet all relevant business needs, but to avoid overlapping benefits. It is important to keep your business running and healthy, even if you are not. Since some disabilities are temporary, what you want is time.

Disability Insurance offers you time to heal, time to make good decisions and time for your business to recover, too.

Northwestern Mutual is the fleet name for The Northwestern Mutual Life Insurance Company, Milwaukee WI (NM), its subsidiaries and affiliates. Bleakley, Schwartz, Cooney & Finney is a marketing name used by Northwestern Mutual representatives located at 100 Passaic Ave, Suite 300, Fairfield, NJ 07004-3508. Bleakley, Schwartz, Cooney & Finney is not a registered investment advisor, broker-dealer, federal savings bank or subsidiary or affiliate of NM. Insurance Products are available through insurance agents of The Northwestern Mutual Life Insurance Company, Milwaukee, WI (life insurance, disability insurance, and annuities) and Northwestern Long Term Care Insurance Company, Milwaukee, WI, a subsidiary of NM (long term care insurance). Securities and investment advisory programs are offered through registered representatives and investment advisory representatives of Northwestern Mutual Investment Services, LLC (NMIS), a wholly-owned company of NM and a dually registered broker-dealer and investment adviser, member FINRA (www.finra.org) and SIPC (www.sipc.org).Investment advisory programs and trust services are offered through Representatives of Northwestern Mutual Wealth Management Company® (NMWMC), Milwaukee, WI, a wholly-owned company of NM and limited purpose federal savings bank. Investment products are not insured by the FDIC, are not deposits or other obligations of, or guaranteed by, NMWMC or its affiliates and are subject to investment risks, including possible loss of the principal amount invested. The products and services referenced are offered and sold only by appropriately appointed and licensed entities and representatives of such entities. Each Financial Representative represents one or more, but not necessarily all of the entities shown and may not provide all the services discussed on this Web site. Not all products and services are available in all states. The Northwestern Mutual Life Insurance Company is neither a registered investment adviser nor a registered broker-dealer. There may be instances when these insurance agents represent insurance companies in addition to NM or its affiliates.Not all persons using the Bleakley, Schwartz, Cooney & Finney name are able to offer advisory services or securities.