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Business Owners Have a Lot to Protect

The Standard’s personal income and business protection products are designed to help business owners. With comprehensive income protection plans, business owners can protect themselves, their businesses and their employees against income loss due to injury or illness.

Selling to business owners can be a challenge. They tend to be optimistic risk-takers. They might believe a disabling condition won’t happen to them. Or that they could get by with money from their business or personal funds to keep their businesses afloat.

Remind them of this statistic – one in four working Americans become injured or sick and can’t work before retirement age.1 Then show them how The Standard’s personal income and business protection products can help. Let them know that The Standard offers discounts, upgrades and coverage increases built just for them.

Protect Themselves

Our income protection insurance provides valuable personal income replacement if a business owner becomes sick or injured and can’t work.

We offer enhancements and discounts on Platinum Advantage to business owners. For example, they can qualify for up to $2,000 more in monthly benefits than non-business owners with the same occupation class.

And they may qualify for multiple discounts. We offer the 10% Business Owner Discount and the 10% Preferred Occupation Discount for select occupations. If they buy individual coverage with a joint owner or two or more employees, they could receive 10% off with our Multi-Life Discount. They’ll qualify for the 5% Multi-Product Discount if they also buy a business protection policy.

Protect Their Businesses

The Standard’s business protection products help in two ways.

Business Overhead Protector® reimburses for overhead expenses incurred by a business during the business owner’s disability. These expenses could include employee salaries and benefits, rent payments and utilities. It could even cover the cost of hiring a replacement for the disabled owner.

Business Equity ProtectorSM provides funding for business partners to purchase an owner's interest in the business through a buy-sell agreement if the owner becomes totally disabled. This coverage makes sure the business owner is compensated for the ownership interest while allowing the other owners to carry on the business.

Protect Their Employees

The global pandemic has shown employees how unforeseen events can affect their financial security. Benefits such as income protection insurance can provide much-needed peace of mind — and help businesses attract and retain employees.  

Business owners who buy income protection insurance for their employees can receive 10% off premiums with the Multi-Life Discount. Or, if purchased for an executive class of seven or more employees, guaranteed standard issue income protection is available with discounts up to 35% — without medical underwriting.  

Build a Comprehensive Protection Plan

Work with your business owner clients to make sure they’re protecting themselves, their businesses and their employees. Contact your General Agent if you’d like help analyzing the business owners’ needs. Then craft a comprehensive plan just for them.

For Producers Only


Related Products or Services

Business Protection

Business Overhead Protection®
Help ensure your clients can cover business overhead expenses if they are sick or injured and can't work.

Business Equity Protector™
Ensure your clients' buy/sell business agreements are funded if they become sick or injured and can't work.

Available in all states except Massachusetts, New York and Wyoming. 

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