Unfortunately, this may leave the business vulnerable at a critical time. Borrow Funds - Borrowing can be a very costly solution. Plus, because of the unsure nature of the business after an owner's disability, it may be difficult to qualify for a loan. The buyout is funded immediately, at minimal cost to the business. Disability insurance provides essential funds for the business at a time when the business itself must recover from the loss of a key contributor.
Disability insurance has exclusions and limitations.
For costs and complete details of the coverage, contact a Principal Life representative. All Rights Reserved. Inc. Bank products and services provided by Principal Bank, FDIC insured. Annuities, Insurance, Retirement Plans, Mutual Funds and Other Securities are not insured by the FDIC, are not obligations or deposits for Principal Bank nor guaranteed by Principal Bank and involve risk, including the possible loss of principal invested.