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Buy-Sell Plus Disability Insurance

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What is Disability Insurance?

What if something happens that prevents us from working for some time? It’s not a pleasant thought, but it could happen to anyone. The good news is that various insurance companies have planned for this, even if we haven’t. They have created something called disability insurance.

Disability Insurance or income protection is a form of coverage that helps you in the event that you can no longer earn an income due to mental or physical disability. Simply put, disability insurance is a type of policy that pays out if you find yourself unable to work.

There are a number of variations of disability insurance. These typically vary in areas like premium costs, wait periods and overall coverage.

 

What is Manulife Buy-Sell Plus Disability Insurance Plan

“Disability Insurance for Business”

Disability and injuries can cripple a business. A business can suffer immensely if any of its main partners becomes disabled. Productivity can be lost dramatically and the finance and profit could be seriously eroded. However, with Manulife Buy-Sell Plus disability insurance, you can get finance to buy-out the disabled partner to keep a business alive and active even when a partner becomes disabled.

Buy-Sell Plus Disability Insurance plan is the Manulife disability insurance product for individual protection that specifically designed for business owners like you.  

With this business coverage, it becomes easy to protect your business and ensure that none of your business partners would drag the business backward.

What are the benefits of Manulife Buy-Sell Plus Disability Insurance?

You’ve worked hard to get where your business today. Manulife created this plan because Manulife understands your financial situation in the event like this to help make sure your business income continues uninterrupted.

Get business income protection designed for small businesses

Manulife Buy-Sell Plus Disability Insurance plan is suitable for partnership businesses with about 2 to 5 owners who work full-time in the business. In such business structure, disability of a partner can be catastrophic in the business but this plan can help you to save the day.

Several other interesting features and benefits are offered in this plan such as the lump sum payment benefit and many more that listed below.

This popular plan has several benefits outlined below:

  • Count on non-cancellable coverage to age 63 with no rate increases as long as you pay your premiums on time.
  • The coverage can be easily converted to an income replacement policy without medical evidence.
  • You can receive up to $5000 to take care of your accounting and legal expenses.
  • Three payment options are provided namely:
    a) A lump sum benefit payment
    b) Monthly installments
    c) A down payment followed by monthly installments
  • Have an option to purchase additional insurance as the business grows, without medical evidence.

 

Plan Details

  • Receive money—either lump sum or through an income stream—to purchase a disabled owner’s share of the business.
  • Suitable for businesses with two to five owners who control at least 10% of the business and work there full-time.
  • Transfer insurance to a new business, without medical evidence.

 

Get your Manulife Buy-Sell Plus Disability Insurance Quotes and Compare!

Other Manulife Disability Insurance Products:

 

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