Attracting & Retaining Key Employees: Disability Income Insurance
Part of attracting and retaining key employees for your company is being able to
offer them valuable employee benefits like Disability Income Insurance that not only helps to protect themselves, but their family and their income. Offering them supplemental Disability Income Insurance is one way to provide higher levels of protection for your employees without incurring any additional costs for your company.
Talented and committed employees play a critical role in the success of your business. In today’s competitive marketplace, it is becoming increasingly more difficult to attract and retain top talent. We can help you enhance your benefits package to compete more effectively with the staying power of our products and services.
When can it be used?
Key employee coverage should be used as one component of a business protection plan Purchasing disability coverage on a key employee is one of several ways you can protect your business against financial loss in the event that you or one of your employees becomes disabled. Both your personal income and the personal income of your employees can be protected by group and individual disability income policies.
You can also purchase an overhead expense policy that will pay the operating expenses of the business if you become disabled. In addition, disability insurance can also be used to fund a buy-sell agreement, in the event that your business must be sold due to an owner's disability. However, key employee disability coverage can add another layer of protection for a business by paying benefits to the business when it suffers a financial loss because an important employee becomes disabled.