Disability Insurance: Preparing for the Unexpected

Have you thought about what would happen to your business if you weren’t able to lead because of illness, injury, or unplanned events? Many owners may hope that their business can be managed in their absence. But without a plan in place, the reality could be a different story.

Consider the Following Scenarios:

Belief: Key team members can handle it all on their own.
Reality: Relying on others without a clear plan can lead to operational or financial strain. Team members might lack the authority, expertise, or resources to steer the business effectively.

Belief: I can sell my business if I have to.
Reality: Selling a business can take time, possibly months or years. During financial or personal hardships, you may not receive the full value of your business.

Belief: If something unexpected happens, I'll deal with it when the time comes.
Reality: Emergency decision-making often leads to rushed choices. Without preparation, you risk losing the stability you’ve worked hard to build.

When it comes to planning for the future, understanding what to prepare for could help keep things flowing smoothly for your business, employees, and family. A sound business continuation plan can create support so unexpected events are less likely to disrupt your operations or livelihood.

To learn more about the importance of disability insurance, talk to your Federated Insurance® marketing representative for a referral from Federated’s network of independent business succession and estate planning attorneys.

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This article is for general information and risk prevention only and should not be considered another other offer of insurance or legal, financial, tax, or other expert advice. The recommendations herein may help reduce, but are not guaranteed to eliminate, any or all losses. The information herein may be subject to, and is not a substitute for, any laws or regulations that may apply. This information is current as of its publication date and is subject to change. Some of the services referenced herein are provided by third parties wholly independent of Federated. Federated provides access to these services with the understanding that neither Federated nor its employees provide legal or other expert advice. All products and services not available in all states. Qualified counsel should be sought with questions specific to your circumstances. All rights reserved.