While many business owners plan for the survival of their businesses in the event of death, many don’t consider the effects of disability on the firm’s future. Or, like many of us, they just don’t believe they will ever become disabled. However, the probability of a disability is significantly higher than death:
2,650 – The number of people disabled each hour due to an accident, compared to 13 who die from an accident.1
43 – The percentage of people age 40 who will have a long-term disability event prior to age 65.2
Two types of coverage can help:
- Disability buy-out insurance provides funds for the purchase of a disabled business owner’s interest in the event of a long-term, total disability.
- Overhead expense insurance covers operating expenses of a business when the owner can no longer generate revenue due to disability.
The two products work nicely in tandem. Overhead expense fills the gap immediately following the onset of disability to keep the doors open. If the disa
Cairns Airport’s redevelopment is expected to underpin the regions $1.3 billion tourism industry, with the North Queensland region’s economy highly dependent on the support of its airline partners.