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Personal DI Icon

Personal DI

Provides a monthly benefit to the insured.

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Business overhead expense Icon

Overhead Expense

Reimburses a business owner for out of pocket business expenses.

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Disability Buyout Icon

Disability Buyout

Provides a monthly benefit or lump sum that is used to purchase the business interest of a disabled owner.

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Key Person Icon

Key Person

Pays a lump sum or monthly benefit to a business for the loss of a Key employee.

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Business Loan Icon

Business Loan

Provides a monthly payment to a lender to complete a business loan obligation.

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Home > Business Loan

Business Loan

Looking for a quick quote? Click the link below for a Business Loan quote.
Business Loan Quote

What is Business Loan Disability?

Provides reimbursement for a monthly business-related loan obligation in the event of the insured’s total disability. Items commonly covered, include:

  • Purchase of a practice or existing business.
  • Purchase of expensive equipment.
  • Expansion of the business or practice.
  • Facility renovations and improvements.
  • Purchase of a building used solely for the business.

Target Markets

  • Dentist, Veterinarian, CPA or Physician purchasing an existing practice.

What types of loans are not covered?

  • Investment
  • Line of credit
  • Credit card
  • Revolving line of credit
  • Interest only
  • Family loan

How much Business Loan Disability can be purchased?

Most insurance companies will cover loans up to $2,000,000. Higher amounts are available from a specialty carrier.

What is an elimination period?

The elimination period is the period that must pass before benefits are payable. This feature is like a deductible on your home or car. Typical elimination periods include 30, 60, 90 , 180 and 365 days. The shorter the elimination period, the more costly the plan.

What is a benefit period?

The benefit period is how long benefits are payable while you are on claim. The policy termination date is based on the end of the financial obligation with a minimum of three years, up to a 30-year maximum.

What is the definition of total disability?

Most policies will consider you to be disabled if you cannot perform the substantial and material duties of your occupation, and you are not working.

What is a residual disability?

Residual disability benefits are not available.

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Joe Hardgrove, CLU
Joe@southwestdi.com
P: 817-732-7999
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