How To Fill A Business Owner's Insurance Needs

Disability insurance provides an income in case you become disabled. You're not likely to qualify for disability insurance because of your health condition. However, you may be able to obtain it as a member of a group.

If the company has disability insurance:

Does it allow for partial disability? If not, consider revising the coverage so you can continue to work part time, and still receive disability income.

If the company doesn't have disability insurance:

Explore with an insurance broker whether you can qualify for disability insurance on an individual basis. If you don't qualify through normal channels, he or she can contact a broker who handles "special risks."

Also look at what disability insurance you could purchase through your company.

• What is the minimum number of employees that has to be covered to qualify for a group?
• What kind of benefit can you get?
• How much will it cost?

• Is there a waiting period for pre-existing conditions? If so, when does the waiting period end?

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