Protecting YOUR Greatest Business Asset!


Your greatest business asset is YOU! Your vision, your drive, your passion, your overseeing of your business. These are all key elements in your business success. Your business needs YOU to grow and you need your business to grow.

However, sometimes the unexpected happens and it happened to me and my husband three years ago when he was diagnosed with cancer. The cancer was asymptomatic. It was only detected through routine blood work. It caused an 8-month whirlwind of surgery and recovery. Thankfully, all of our medical bills and treatments were paid by medical insurance. Disability benefits kicked in after 30 days, but weren’t enough. We exhausted all our liquid financial resources to pay the daily living bills.

Did you know that eight out of nine people who suffer heart attack, cancer and stroke live through their critical illness? That’s wonderful news! Medical advances are saving and prolonging more and more lives every day. The downside of this news is that there is usually a long recovery time involved as we heal and get our health back.

Medical crises cause 62% of bankruptcies every year in America. Most of these Americans had medical insurance. Medical insurance pays your medical bills, but doesn’t pay the mortgage and other daily expenses. So you may need someone to step in and run your business while you heal.

What’s the answer? Living benefits. It is the “smartphone” of life insurance. It doesn’t just pay you when you die, like old life insurance.

What is living benefits and how does it work?

The living benefits income stream becomes available during certain medical triggers. The list is extensive. The income from the living benefits can be used for any purpose. You can choose to pay bills, to seek alternative medical treatments if necessary, or to hire someone to run your business in your absence. There are no restrictions on how it can be used.

Here are a few of the triggers that make living benefits available from your policy:

• Heart Attack (including sudden cardiac arrest)

• Stroke

• Cancer

• Major Organ Transplant

• Blindness

• Lou Gehrig’s Disease (ALS)

Critical illness and critical injury both can trigger availability of living benefits

What can you do to protect yourself?

  • Look at any existing life insurance policies you already have in place and familiarize yourself with the benefits

  • If you have any existing policies, consult your agent with questions

  • If you find gaps in your coverage, reach out to agents with companies that offer living benefits

  • As entrepreneurs, we work harder, longer and with more energy and enthusiasm than many employed workers. We enjoy the “rollercoaster” of our businesses. We enjoy putting the building blocks in place where we want them. We enjoy watching our businesses grow as we work. The satisfaction from building our own businesses is unparalleled. Don’t let a surprise catastrophic medical crisis wipe away all that you have built.

Michelle Kelley