If illness or injury kept you from working, your household and business would still have bills. Personal disability coverage and business overhead coverage address different parts of that problem.
See how the options differ and what we could review together.
No details needed. Start with the question on your mind.
THE BUSINESS OWNER’S NOTEBOOK02
Bring the important pieces together.
01
At home
Income. Family. Commitments.
+
02
At work
Rent. Payroll. Operating costs.
Start with the question on your mind.
THE STARTING POINT
Personal disability income coverage and business overhead expense coverage address different needs. Coverage, eligible expenses and benefits depend on the policy. [1]
01
Your income
How would your family manage?
02
Business expenses
Which costs continue while you are away?
03
The plan
How long can reserves and existing coverage help?
A FEW MINUTES. BETTER QUESTIONS.
Start with a situation.
Choose a situation and save the questions you would like to discuss. These prompts are general information, not individual advice.
AN ILLUSTRATIVE SITUATION
You cannot work, but home expenses continue.
A consultant is unable to work for several months. Mortgage payments, groceries and family costs continue even though new business income slows.
WHAT TO COMPARE
Personal disability insurance may replace part of eligible income during a covered disability. Cash reserves can help bridge a waiting period. Compare household spending with existing coverage, other income and available savings rather than assuming revenue equals insurable income.
Illustration only. Your circumstances and contract terms matter. [1]
What would you like to discuss?
Choose the questions that fit.
AN ILLUSTRATIVE SITUATION
The office stays open while you recover.
An owner-operated practice still owes rent, utilities and eligible staff costs during an absence. Personal disability benefits may already be needed at home.
WHAT TO COMPARE
Business overhead insurance reimburses covered ongoing expenses under its terms. It serves a different purpose from replacing the owner’s personal income. Compare a realistic expense list with covered categories, exclusions, monthly limits and benefit duration.
Illustration only. Your circumstances and contract terms matter. [1]
What would you like to discuss?
Choose the questions that fit.
AN ILLUSTRATIVE SITUATION
Your current earnings are higher than your paperwork shows.
An owner has recently left employment or grown a young business. Existing disability coverage was based on a lower income, and full financial statements are not yet available.
WHAT TO COMPARE
Review what coverage is already in force before changing it. Ask what evidence the insurer accepts and whether any existing increase option applies. Higher sales alone do not establish a higher benefit or guarantee approval.
Illustration only. Your circumstances and contract terms matter. [1]
What would you like to discuss?
Choose the questions that fit.
AN ILLUSTRATIVE SITUATION
You return part time before income recovers.
An owner can handle some duties again, but cannot yet work full hours or restore the previous income.
WHAT TO COMPARE
Compare total-disability terms with any partial or residual-disability provisions actually included in the policy. Check how earnings, hours, duties and recovery affect payment. A gradual return is not covered identically by every contract.
Illustration only. Your circumstances and contract terms matter. [1]
What would you like to discuss?
Choose the questions that fit.
Compare what each option does.
Open an option to see where it may help and what to weigh.
01Personal disability insurance+
May replace part of eligible personal income during a covered disability. Compare definitions, waiting periods, benefit amounts and duration. It is not automatically a separate fund for business bills. [1]
02Business overhead coverage+
May reimburse eligible fixed operating expenses during the insured owner’s covered disability. It does not replace lost business profit or automatically pay every salary or expense. [1]
03Cash reserves+
Can respond without an insurance claim and help during a waiting period. The tradeoff is using money also needed for operations or other goals. Stress-test how long the reserve would last. [1]
04People and continuity+
Cross-training, delegated authority and replacement help can keep work moving. They do not by themselves replace lost income. Compare the operational plan with the funding available. [1]
A little more clarity.
Would my personal disability policy pay the office rent?+
Personal benefits may be needed for household costs. Business overhead coverage is designed for eligible business expenses. Review the two needs separately rather than counting the same benefit twice. [1]
Would insurance cover any reason I cannot work?+
No. The illness or injury and its effect on work must meet the contract. Definitions, exclusions, waiting periods and evidence requirements matter. [1]
Should I cancel old coverage before applying for more?+
Review the existing contract first. Do not assume replacement coverage will be approved on the same terms. Compare any new offer before deciding what to keep or change. [1]
A RELATED QUESTION
Would a change in ownership also require a funding plan?
We can start with household bills, ongoing business costs and the coverage you already have. I’ll help you identify the gap, if there is one, and the terms that deserve a closer look.
I help people make clearer decisions today, before life forces harder ones later.