One of the least used benefits for business owners is disability insurance. This is a benefit that can be paid
for using corporate dollars, but only offered to those whom you choose (maybe just yourself). As I said on another page
under personal services, a person is 7 times as likely to become disabled than they are to have an early death. What
will happen to your business and more importantly, your family if you became temporarily or even worse, permanently disabled?
What else can I do?
Long term care insurance is another benefit you can purchase
for yourself using your corporation's dollars. As I've seen the struggles my own grandparents are going
through as my grandmother has been in and out of a nursing home, it's unbelievable how that can financially destroy a
couple. I am grateful that my parents have let me help them by getting long term care coverage to provide for their
future custodial health care costs. They are fortunate to live in a state that also provides asset protection from Medicaid
spend down with the proper long term care policy.
