Wednesday, July 3, 2013

Things to Consider Before Buying Disability Insurance



 
 
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Business owners buy insurance to protect many things: health, life, liability, vehicle, and inventory are just a few. But what happens if you become sick or are unable to work for a long period of time?
Disability insurance replaces income lost due to injury from a catastrophic accident or illness beyond 90 days. It generally replaces 60 percent of the policyholder's income from the previous year, up until retirement age (normally around 65 years-old). Chris Peck, CEO of Stamford, Conn.-based CBP, an insurance brokerage firm that works with small and medium- sized businesses, says that disability insurance is usually not on a business owner's radar, but it should be.
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