A healthy disability buy-out insurance agreement should contain provisions that anticipate the future needs of a business.
As such, many lenders are now also requiring that an individual insure their loan payments in the event that they become disabled and cannot meet their loan payment obligations.
Typical covered expenses are: rent, utilities, employees' salaries, insurance premiums, and other deductible expenses.
A disability of a key employee can have significant consequences on the productivity of the business, not to mention the welfare of the valued employee.
2020-99454 Exp: 4/1/22
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