Disability Income

Disability Income
Insurance Providers

Disability Income Protection


Your income is your most important asset. An interruption of your income can take years and years to recover. Disability Income insurance should be the bridge during a period of disability and loss of income. NJLTC is committed to helping you determine the right company, the right product and the appropriate income protection program for your client. The market for disability insurance is very large if you consider everyone that is employed as a potential prospect and needs to protect his income. Small business owners in particular are extremely exposed both on a personal level as well as a business level and are very good candidates for Disability Income as well as Business Overhead Insurance. A strong disability program that may incorporate some level of short term, long term and/or group disability could be the answer to solving many of these problems.

At NJLTC, we have the companies, the products and the expertise to help you grow your business and help your clients with this important protection. We can help you custom design, present and close the sale. Please contact our Disability Department today to get started selling disability income protection insurance. We also have special risk disability coverage for impaired risk, risks, and occupations not insureable by traditional carriers.

Visit the Advisor Disability Awareness Toolkit to find useful resources to help your clients better prepare for a potential disability:

Disability BuyOut


Most business owners think about funding a buy/sell agreement with life insurance. This would protect all parties involved with a smooth, funded transfer of business interests in the event of an untimely death of one of the owners. However, many businesses fail to address a more likely scenario - the disability of one of the principals and how to fund the transfer of ownership.

There are many business and financial considerations that need to be addressed upon the disability of a principal. Since that person is still alive and not eligible to begin collecting retirement funds, he certainly would need some money to live on. He has an equity interest in the business and would need access to that. A disabled individual that can no longer contribute to the business can be quite a burden on the remaining partners. Both parties need to affect a transfer of ownership whereby the disabled individual can receive compensation for his equity interest and remaining owners would have full control of ownership rights. It also reduces the burden of dealing with the disabled partners, significant other, or family

Disability buy-out insurance is designed specifically to provide the company's owners with the money they would need to reimburse a disabled owner for his or her financial interest in the company. This money is, of course, available over and above any replacement income the owner or partner is receiving under a traditional disability income insurance contract.

Overhead Expense


A disabling illness or injury can keep your client from working for weeks, maybe months. But it doesn't have to disable their business. With a Disability Overhead Expense insurance plan, your client will have peace of mind in knowing that their business expenses will be provided for while they tend to the business of getting well. During a period of total or partial disability, the plan would reimburse them for the customary expenses up to the limits stated in the policy, of operating a business away from their home.

There are many business and financial considerations that need to be addressed upon the disability of a principal. Since that person is still alive and not eligible to begin collecting retirement funds, he certainly would need some money to live on. He has an equity interest in the business and would need access to that. A disabled individual that can no longer contribute to the business can be quite a burden on the remaining partners. Both parties need to affect a transfer of ownership whereby the disabled individual can receive compensation for his equity interest and remaining owners would have full control of ownership rights. It also reduces the burden of dealing with the disabled partners, significant other, or family

Some covered expenses include:

  • Malpractice Insurance
  • Property and Liability Insurance
  • Taxes
  • Laundry and Maintenance services
  • Utilities
  • Employee Salaries
  • Salary for temporary replacement of insured
  • Fees for ancillary services
  • Lease or Mortgage Payments
  • Payments for equipment, furniture, and supplies

An overhead expense insurance plan provides help to maintain your business when you need it most-when you are unable to generate the necessary revenue to keep your business open due to a disabling injury or sickness.

Wide range of valuable features and benefits:

  • Guaranteed premiums
  • Noncancellable and guaranteed renewable until age 65, and conditionally renewable thereafter