Insurance by RJA

WHAT HAPPENS TO THE BUSINESS
WHEN THE OWNER CANNOT WORK?

Most business owners have plans for growth.
They have plans for marketing.
They have plans for hiring.

But very few have a plan for what happens if they are suddenly unable to work for several months.
The rent still comes due.
Employee salaries still need to be paid.

Utilities, equipment payments, taxes, and other expenses do not stop simply because the owner cannot be there.

Many businesses can survive a slow month.
Far fewer can survive the temporary loss of the person who keeps everything moving.

It's not a pleasant topic to think about. But protecting a business is not only about preparing for opportunities.

It's also about preparing for interruptions.

Have you ever considered what would happen to your business if you were unable to work for six months?

The Right Protection For The Right Situation

WHAT IS YOUR MOST VALUABLE ASSET?
Ask most people this question, and the answers tend to be similar.
"My home."
"My retirement account."
"My business."
"My investments."

All of those are important.
But for most working individuals and business owners, their most valuable asset is something else entirely.

It is their ability to earn an income.

Think about it.
Your income pays for the home.
Your income funds the retirement account.
Your income supports the family.
Your income helps build the business.

Without it, many of the things we spend years building become much more difficult to maintain.

Yet many people spend more time protecting their possessions than protecting the income that makes those possessions possible.

Food for thought this Monday:
If your income stopped tomorrow, how long could your current resources maintain your lifestyle?

There is no "best insurance."
There is only the right protection for the right situation.

Disability Income.
It goes on when your own stops
due to illness or injury.

I KEEP GETTING ASKED ABOUT THE BASICS OF DISABILITY COVERAGE. AND THIS IS IMPORTANT.
Here is some basic info:

DEFINITION AND PURPOSE:
Disability insurance is a financial safeguard designed to provide individuals with a steady source of income in the event they become unable to work due to a disabling injury or illness. This type of insurance policy offers protection against the potential loss of earnings resulting from such circumstances.

Benefits are paid monthly and determined as either a flat dollar amount or a percentage, usually 55% to 65% of the insured's current gross earnings as reported at the time of application.

The waiting period in disability insurance refers to the time between the occurrence of a disabling event or injury and the start of benefit payments. No payments are made during this period. Think of it as your “co-pay” or “deductible”.

While premiums paid for individual disability income insurance are NOT tax deductible, the benefits received from an individual policy are not taxable as income.

There are several riders available that will provide additional coverage or time. These should be discussed with your agent.

Be Well!
God Bless!

R.J. Alcazar
Lic in NC, SC, FL.