Cover What’s Important for Business Owners

Business owners shoulder a lot of responsibility. They take care of their families, employee salaries and business facilities. And they pay for things you might not think about ― like office equipment and janitorial services. Framing protection for the business they’ve created can be a starting point for a conversation.

The Standard offers personal and business protection for your business-owning clients. And you can help them tailor a suitable solution for their income, occupations and businesses.

Protect Your Income

Platinum Advantage protects the personal income of business owners if sickness or injury leaves them unable to work. And it includes The Standard’s Family Care Benefit. This unique feature can help protect owners’ salaries in case of a family member’s injury or serious illness.

Platinum Advantage offers a choice of benefits for business owners. For example, they can qualify for up to $2,000 more in monthly benefits than non-business owners in the same occupation class, and can even upgrade their occupation class in some cases.

Platinum Advantage comes with discounts for your clients, including:

• 10% Business Owner Discount, for qualifying business owners
• 20% Preferred Occupation Discount for select occupations
• 10% discount with our Multi-Life Discount if clients buy individual coverage with a joint owner or two or more employees
• 5% Multi-Product Discount, if they buy business protection coverage
• 5% eApply Discount on Platinum Advantage if clients use both The Standard’s eApp and Electronic Medical Questionnaire

Protect the Business

With our Business Overhead Protector^® coverage, business owners can feel secure about paying for business expenses. This can include salaries, rent or lease payments, utility costs and maintenance services. If a business owner becomes disabled, Business Overhead Protector would reimburse eligible business expenses. Clients can tailor their coverage by selecting the right waiting period for them. And they can add optional riders to layer their protection:

• Future Purchase Option Rider allows increases to overhead protection as earnings and expenses grow.
• Residual Disability Benefit Rider can help meet expenses in the case of a disability that results in loss of income and a loss of time or duties.
• Salary Replacement Rider provides financial support to hire a non-family member to perform an owner’s duties as a covered expense.

New Business Overhead Protector policyowners qualify for an automatic upgrade of one occupation class. Clients in certain classes may qualify for the Business Owner Upgrade. And owners in 5A occupations can receive a 10% discount on gender-distinct rates.*

Provide Buy/Sell Options

Business Equity Protector^SM covers the purchase of a business owner’s share of a business if a disability keeps that partner from working. Our policy can protect the ability to fund a business buy/sell agreement. Individual owners, or the business itself, can own Business Equity Protector.

Coverage features:

• Total Disability Benefit
• Waiver of Premium Benefit
• Legal/Accounting Fee Benefit
• Policy Transferability and Convertibility

This product provides peace of mind for an owner who is unable to work due to a disability. Business Equity Protector offers the security of premiums that are locked in. Adding riders can provide extended benefits or cover future buy-out expenses.

Connect the Dots for Business Owners

Business owners may not know their options for protecting what they care about. Make sure to share how they can personalize disability coverage to fit their unique needs.

Looking for more information? Check out the Income Protection Introduction Flyer for Business Owners and the Platinum Advantage for Business Owners Interactive Brochure.

For Producers Only