Disability Insurance replaces the employee’s net paycheck should he or she become sick or injured off- the- job and unable to work to earn a paycheck. When an employee can't work due to illness or off-the-job injury, it:
Short Term Disability provides employee income for a short period of time, for an approved disability, whereas Long Term Disability provides employee income for a longer period of time, for an approved disability.
Business Overhead Expense insurance helps to provide income into the business to prevent disruption of operation if the owner(s) or key revenue-producing employees become disabled.
Buy-Sell Disability insurance helps to provide income and/or the business valuation paid out in the event an owner becomes disabled.