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Beth A. Botti, CFP®, ChFC, CLU, CDFA™
Financial Consultant
California Insurance License #0G24537
612 Wheelers Farms Road, Milford, CT 06460
Phone: 203-877-6556 Ext. 169
Fax: 203-301-0736
Email: beth.botti@equitable.com
September/October 2017
Have you insured your most valuable asset?
What’s your business’s most valuable asset? Your customer list? Your building? Your inventory? Actually, it’s you. As the founder, visionary, and primary driver of your business, you are its most valuable asset. What would happen to your company if you were unable to work due to a disability?
A short-term disability could force you to borrow money to pay the bills until you’re back on the job. Alternatively, you may need to hire a temporary replacement. That can be expensive and may not be feasible, depending on the nature of your business. A long-term disability could threaten the viability of your business.
Paying overhead when you are disabled
Depending on the nature of the disability, you may not be able to work for some time. Unfortunately, rent or mortgage payments, wages and salaries, property taxes and phone and utility bills all need to be paid, irrespective of your health. If you generate, or play a key role in generating, a substantial amount of your business’s income, overhead expense insurance can be a lifeline in these circumstances. It is financial protection that helps pay some basic business expenses should you become disabled. A policy may also cover employee benefit costs, employment taxes, professional dues and more.
Protecting your income
If a disability prevents you from generating income for your business, then the odds are high that it will disrupt your personal finances, too. Disability income insurance — which reimburses a portion of your income (according to policy limitations) — can offer protection should you become disabled.
Just as importantly, disability income insurance can also be used as a succession planning tool. Should you become disabled, a disability income insurance policy can provide all or a portion of the amount necessary for your business partners to buy your interest, according to the terms of a buy-sell agreement.
A financial professional can help you assess your specific needs and secure comprehensive coverage.
FINRA Reference FR2017-0427-0092/E 08/02/17
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Duly registered and licensed financial professionals offer securities through Equitable Advisors, LLC (NY, NY 212-314-4600), member FINRA,SIPC (Equitable Financial Advisors in MI & TN), offer investment advisory products and services through Equitable Advisors, LLC, an SEC-registered investment advisor, and offer annuity and insurance products through Equitable Network, LLC (Equitable Network Insurance Agency of Utah, LLC in UT; Equitable Network of Puerto Rico, Inc.). Equal Opportunity Employer - M/F/D/V. Equitable Advisors and its associates and affiliates do not provide tax, accounting, or legal advice or services. Representatives may transact business, which includes offering products and services and/or responding to inquiries, only in state(s) in which they are properly registered and/or licensed. Your connection to this website does not necessarily indicate that the sender is able to transact business in your state. The information in this website is not investment or securities advice and does not constitute an offer. For more information about Equitable Advisors, LLC you may visit https://equitable.com/crs to review the firm's Relationship Summary for Retail Investors and General Conflicts of Interest Disclosure.
GE-6572038.1 (4/24)(Exp. 4/26)
CFP®, and CERTIFIED FINANCIAL PLANNER™ are certification marks owned by the Certified Financial Planner Board of Standards, Inc. These marks are awarded to individuals who successfully complete the CFP Board's initial and ongoing certification requirements.
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