Protection for Executives - Examples

The following examples illustrate how Pro Plus Disability Insurance, based upon Own-Occupation coverage, would respond to different types of disability situations.

Example A: John Wyatt started Wyatt Corporations two years ago. His company provides heating and cooling services to large commercial retailers. He is the Chief Executive Officer of the firm and is involved in company-wide decisions, day-to-day management, and sales. Given his title and the key role he plays in the company, John needs Pro Plus Disability Insurance. The coverage would respond in the event he was physically unable to preform the major duties of his position.

Example B: Three professionals buy a law firm as co-owners. All three are active in the day to day operations of the firm. As such, the co-owners are eligible for three types of disability insurance, including:

(1) personal income protection insurance that would allow each of the partners to maintain their lifestyle if they, as individuals, should suffer a disability;

(2) lump sum disability insurance that would provide two of the partners the capital to buy out the third partner if he or she should become permanently disabled; and

(3) corporate revenue protection insurance that would offset as much as 33 percent reduction in company revenue if one of the partners should suffer a disability.

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