Business Protection

Special Protection For Business Owners

If you own a business, you can protect yourself, your employees and the customers who depend on you by purchasing the Business Overhead ProtectorSM.

The Business Overhead ProtectorSM is designed to protect business owners by providing reimbursement for business overhead expenses, so your business can continue to operate if you experience a disabling illness or accident.

Typical covered expenses include:

  • Mortgage interest or lease payments 
  • Employee wages 
  • Utilities 
  • Business insurance premiums 

Features Of A Business Overhead ProtectorSM Policy

  • Business Overhead Coverage

    A Business ProtectorSM policy covers the following types of overhead expenses:

    • Salaries, fees wages, benefit payments and employment taxes for employees
    • Rent and lease payments for furniture, equipment and premises
    • Utility costs including phone, electricity, heat and water
    • Laundry, janitorial and maintenance service costs
    • Property, liability, malpractice and business insurance premiums
    • Professional, trade and association dues
    • Business property taxes
    • The greater of depreciation or principal payments on business loans on business property
    • Interest on business debt existing on the day your disability begins
    • Legal, accounting and similar business fees
  • Policy Renewability and Premiums1

    Your coverage is guaranteed renewable to your termination date as long as you pay the premium on time. We will not change any part of the policy, including the premium, until the termination date.

  • Renewable for Life (Renewal Option)

    With the Renewal Option, you may ask to continue the policy beyond your termination date if you are working at least 30 hours per week and are not disabled at the time of your request. Certain limitations apply.

  • Total Disability Benefit

    We pay benefits if you cannot work in your regular occupation because of a total disability, as defined by the policy.

  • Benefit and Expense Carry-Forward Feature

    While you remain continuously disabled, unused benefits and unreimbursed expenses may carry forward to future months of continuous disability (subject to policy limits).

  • Partial Disability Benefit

    While the insured is partially disabled, we'll reimburse 50 percent of the covered business expenses (up to the policy maximums) for up to six months.

  • Choice of Maximum Benefit Amount and Commencement Date

    You can choose your policy base amount and benefit multipliers (12, 18 or 24) to determine your maximum benefit (subject to our underwriting requirements). You may also choose a commencement date of the 31st, 61st or 91st day of continuous disability.

  • Conversion Option

    If your needs change after two years from the effective date and before your 60th birthday, you may request conversion of this policy to an individual disability income policy. Certain limitations may apply. Contact your insurance representative for more information.

  • Waiver of Premium Benefit

    While you are disabled, we will waive premiums due and refund any premiums due and paid since your disability began.

  • Presumptive Total Disability Benefit

    We presume you are eligible for the total disability benefit if an injury or illness results in loss of speech, hearing in both ears, sight in both eyes or the use of two limbs, as defined by the policy.

  • Survivor Benefit

    If you die while receiving total disability benefits, we will pay the owner or the owner's estate up to three times the base amount, but not more than any remaining maximum benefit. This benefit is not available in some states.

  • Cosmetic or Transplant Surgery Benefit

    We pay a monthly benefit if you become totally disabled more than six months after the policy's effective date because of a sickness or injury caused by cosmetic or transplant surgery.

Optional Riders

  • Salary Replacement Rider

    This rider is included for many occupation classes at no additional cost. This rider allows you to hire someone (other than a family member) to perform your duties and to have his or her salary included in your covered expenses.

  • Residual Disability Rider

    This rider adds a residual disability benefit and recovery benefit to your coverage.

    We'll pay a residual disability benefit if you lose at least 20 percent of your income while you try to return to work, meaning you are only able to perform some of your regular duties, or you can perform all of your duties less effectively or only part of the time.

    We may also pay a limited recovery benefit for up to 12 months if, immediately after a disability for which you received benefits, you return to work for at least 30 hours per week in your regular occupation.

  • Future Purchase Option Rider

    As your business grows and as your expenses increase, this rider allows you to purchase increased benefits at two-year intervals, regardless of your health (subject to financial underwriting requirements).

Ask your insurance representative for more information about the Business Protector today.


1 The normal termination date is the policy anniversary on or following the insured's 65th birthday.

Protect the Equity in Your Business

The Business Equity ProtectorSM provides funding for your business partners to purchase your interest in the business if you become unable to participate in it because of a disabling illness or accident.

This coverage makes sure you receive fair compensation while allowing the other owners to carry on the business of doing business.

Ask your insurance representative for more information about the Business Protector today.

Features Of A Business Equity ProtectorSM Policy

  • Total Disability Benefit

    If you become totally disabled, as defined by the policy, the policy will pay benefits to assist in the funding of the purchase of your ownership interest in the business. The policy can pay the benefits in a single lump sum or over a period of time.

  • Waiver of Premium Benefit

    This benefit waives all premiums due under the policy while disability or recovery benefits are payable.

  • Legal/Accounting Fee Benefit

    This benefit will reimburse you up to $3,000 for reasonable legal and/or accounting fees that you paid or owe in order to carry out the terms of the buy/sell agreement.

  • Policy Transferability and Convertibility

    If you have not been paid benefits and your policy has been in force for two years, you can transfer your coverage to a new owner and receive insurance under a similar policy without medical evidence.

  • Policy Renewability/Premiums

    We will not change the premiums for your policy while it is in force. You can continue your coverage for as long as you pay your premiums on time or unitl you reach one of the dates specified by the policy.

Optional Riders

  • Extended Benefit Option Rider

    This rider delays the reduction of policy benefits until age 65 and provides reduced coverage until the policy anniversary after you reach age 70.

  • Future Buy-Out Expense Option Rider

    This rider offers an opportunity to periodically increase the buy-out policy benefits to keep pace with business growth.