Long Term Care and Disability Insurance

Helping a Business Owner Keep The Business Running

Presented by Michelle Daharsh When small business owners become disabled, there’s a lot more at stake than just their personal obligations to their family. Ongoing business expenses such as rent, utilities, employee salaries and property taxes all need to be met, regardless if the business owner is there or not. Your clients may already have disability income insurance in place to cover their personal expenses and income, but think about what would happen to those clients that own a business if they had a serious accident or an illness? How long would your client’s business survive, and how would they pay their monthly expenses in order to keep their business open? Business Overhead Expense (BOE) insurance is designed to help protect your client’s business if they were to become disabled due to a serious illness or accident and are unable to work. Not only does that business owner have their own personal expenses to worry about, but they also have to pay employee salaries, rent, taxes, utilities, and a host of other expenses of their business. How are they going to be able to do this if they can’t work? Those bills could add up quickly if there isn’t business expense protection in place. A BOE policy will provide monthly payments to help pay those overhead expenses of the business and give your client the peace of mind that their business will continue to be up and running while they are recovering! Without Business Overhead insurance, your client may have to consider other alternatives or potentially close their doors permanently. Unlike a personal disability income policy, which can pay benefits to age 65 due to a disability, a business overhead expense policy generally has a shorter benefit period of one to two years, but for a very specific reason. It allows a business owner that may be recovering from a disability, the time to get things back to some form of normalcy. However, if the disability of the owner is going to be more permanent, then it gives the owner ample time to explore alternatives for the business without being under a hardship to make a quick decision. Give your small business owner clients the power to help protect what they have worked so hard for with a Business Overhead expense policy!
Long Term Care and Disability Insurance

HELPING CHILDREN CARE FOR THEIR PARENTS

Presented by Tim Dreher   An often heard objection when talking to a prospect about Long Term Care insurance is, “I don’t need insurance because my kids will take care of me.” However, many people don’t realize that there are other unfortunate factors when children care for an elderly parent.  Those factors are not just financial, but can involve emotional and physical stresses as well. According to the American Association for Long Term Care Insurance (AALTCI), the average caregiver is a female in her mid to late forties.  She typically provides more than twenty hours of care per week.  More often than not, she is already juggling her own hectic schedule of working a full time career, raising a family of her own and taking care of her own household. Unfortunately, there can be a financial cost if a caregiver is forced to take time off from their job, reduce their hours to a part-time status or if they need to put their career on hold entirely in order to care for a parent.  Of course, this is not to mention the emotional and physical hardships that a caregiver faces on a daily basis. Caring for an elderly parent is not an easy task.  Many times caregivers are stretched so thin juggling their overwhelming responsibilities that they often neglect their own health and become sick and frail themselves, speeding up their own aging. Fortunately, one way to help alleviate many of the challenges involved with caring for a loved one is to have the Long Term Care discussion and talk about how a Long Term Care plan could help.  Plan benefits can provide for professional caregivers to help supplement the care that is being provided by family members.  When talking about Long Term Care insurance with a prospect, I explain it like this, “Of course your kids will help care for you if you should ever need it, and Long Term Care insurance will allow them to care for you better and longer.”  Isn’t that what all of us want? Contact your Financial Brokerage Sales Manager at 800-397-9999 for help in overcoming this and many more objections. It could turn that negative experience into a positive one and hopefully a sale for you.