Income Protection > Business DI Plans

---

There are many reasons one should consider protecting their business assets and income with disability income protection insurance.  Everything from needing to insure a business loan that a bank or lender requires for closing, a key employee in your firm that is critical to everyday functioning of the business, to a guarantee issue multilife or group solution for underinsured groups of employees such as those in physician practices, law and accounting firms and executives.

Guarantee Issue Multi Life Group Disability:  As easy ast 1-2-3 ! 

• If a disability inhibits one from working, the financial strain can be catastrophic; everyday costs suddenly become nearly impossible to cover. Even with a disability insurance plan in place, it may be hard to continue living a fulfilling lifestyle; many plans only cover the bare bones. 
• Because many highly compensated employees have difficulty obtaining adequate and reasonable amounts of disability insurance through their group long term disability insurance plans, GRB offers a high limit supplemental group plan. 
• Underwriters have designed both a group and a multi life approach to this problem; both plans offer premium discounts and underwriting concessions. 
• In participation with another disability insurance plan already in place, this plan can insure a person for up to 75% of their income and has issue limits of $250,000 per month! 
• GRB understands that not all people and certainly not all groups are the same; therefore, if your group has special needs, we will design a custom group insurance plan to cover them. 
• As Easy as 1-2-3.... 1: Obtain a Quote 2: Complete an Application (no underwriting!) 3: Pay the Premium... Easy!
• Watch our videos on GSI below

Bank Loan Indemnification Insurance:  A few statistics to consider as to the WHY ?

• The Federal Home Loan Bank reports that the major cause of mortgage loan foreclosures is disablement of the mortgagee: 48% vs 3% due to death.
• It is not uncommon for the lending firm to require life insurance as a condition to make the loan. Such insurance covers the consequences created by death (3%) and leaves abandoned the greatest hazard to loan default, disability (48%).
• 67% of people who suffer heart attacks, the number one killer in America, survive. Cancer survival has reached the plateau of 56%. The greatest number of disability cases involve people age 30-49 years of age, with the average age being 41. Consider the published observation of Selena Maranjian, who writes in The Motley Fool, “Most of us need disability insurance, yet less than 15% have it!”
• Bankers are becoming increasingly aware of the hazards to their loan repayment potential. Roughly 25% of all bankruptcies are tied to an illness or injury.

Business Overhead Expense (BOE) Insurance:  A few facts to consider for BOE.

• Personal disability plans will keep you and your family living comfortably, but what will happen to your company while you are unable to work? 
• BOE Insurance plans continue to pay your company operating expenses during the time you are unable to work. 
• If your work is crucial to the company, obtaining a BOE Plan is highly recommended and responsible. 
• The plan will provide business stability during an unstable time for the company, and help to ensure the company’s clients that despite the hiccup the company is strong and reliable. 

Key Person Disability Insurance:  A smart business plan !

• Key employees typically are those who may have the important clientele relationships, hold the company’s major accounts, or know essential information that is imperative to the functioning of the business. 
• If the key employee is totally and permanently disabled, this information may not be retrievable from the individual, leaving the company struggling to find alternate methods of recovering the information and maintaining relationships with key customers. These additional challenges become very expensive. 
• Key Person coverage provides cash flow to help companies move forward and maintain a profit in the event that a key employee becomes disabled. 
• The company could use the disability benefits to hire a temporary employee should the disabled employee’s prognosis appear to be a short-term disability. 
• In the unfortunate circumstance of a permanent disability, benefits would then be used to help defray the costs related to hiring a replacement employee, such as recruitment, training, startup, loss in revenue and unfunded salary continuation costs.