Business owners put their time, money and energy into their growing businesses. They know who they are — and how they define themselves. But their definition in terms of group life and disability income protection is a different matter, and can have a big impact when it comes to avoiding insurance gaps.
Sure, group life coverage and income protection seem simple enough. After all, the options are similar from one insurance carrier to another, right? You'd be surprised.
Typically, group life and disability coverage doesn't insure a small business owner's total income. That's because most small businesses are structured as "flow-through entities," meaning that in addition to any salary received, the owner's share of business profits flows through to their personal tax return.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
