Business Protection

Business Overhead ProtectorSM provides business owners reimbursement for overhead expenses so their businesses can continue to operate if they become disabled.

Typical covered expenses include:

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

Included With Every Policy

  • Business Expense Coverage

    We cover the following business expenses while your client is disabled:

    • 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

    Please refer to the policy for a complete list of covered and non-covered expenses.

  • Policy Renewability and Premiums1

    Coverage is noncancelable and guaranteed renewable to your client's termination date as long as your client pays 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, your client may ask to continue the policy beyond the termination date if he or she is working at least 30 hours per week and is not disabled at the time of the request. Certain limitations apply.

  • Total Disability Benefit

    We pay benefits if the insured cannot work in his or her regular occupation because of a total disability, as defined by the policy.

  • Benefit and Expense Carry-Forward Feature

    While the insured remains 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. See the policy for more details.

  • Choice of Maximum Benefit Amount and Commencement Date

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

  • Conversion Option

    If your client's needs change after two years from the effective date and before turning age 60, he or she may request conversion of this policy to an individual disability income policy. Certain limitations may apply.

  • Waiver of Premium Benefit

    While your client is disabled, we will waive premiums due and refund any premiums due and paid since the disability began.

  • Presumptive Total Disability Benefit

    We presume your client is 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 your client dies 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 the insured is disabled more than six months after the policy's effective date from a sickness or injury caused by cosmetic or transplant surgery.

Optional Riders

  • Salary Replacement Rider

    This rider is available to occupation classes 3A, 4A and 5A at no additional cost. This rider allows your client to hire someone (other than a family member) to perform his or her duties and to have that person's salary included as a covered expense.

  • Residual Disability Rider

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

    We'll pay a residual disability benefit if your client's business loses at least 20 percent of its income while he or she tries to return to work. We may also pay a limited recovery benefit for up to 12 months if, immediately after a disability for which your client received benefits, your client returns to work for at least 30 hours per week in his or her regular occupation.

  • Future Purchase Option Rider

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


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

Business Equity ProtectorSM provides funding for business partners to purchase an owner's interest in the business if he or she becomes totally disabled.

This coverage makes sure the insured receives fair compensation under the terms of the policy while allowing the other owners to carry on the business.

Included With Every Policy

  • Total Disability Benefit

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

  • Waiver of Premium Benefit

    We waive all premiums due under the policy while disability or recovery benefits are payable.

  • Legal/Accounting Fee Benefit

    We will reimburse your client up to $3,000 for reasonable legal and/or accounting fees that he or she paid or owes in order to carry out the terms of the buy/sell agreement.

  • Policy Transferability and Convertibility

    If we have not paid benefits after the policy has been in force for two years, your client can transfer the 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 the policy while it is in force. Your client can continue the coverage for as long as he or she pays the premiums on time or until 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 your client reaches 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.