Income Protection

Keep your employees and your business financially fit.

If you or one of your partners suddenly became too sick or hurt to work, how would you pay business bills and employees’ salaries?  And, what about your employees? Like you, they may face challenges with paying everyday bills if an illness or injury keeps them from working.  

Working and earning a living is critical to supporting your family. And, as a business owner, it’s also key for running your business. Yet many owners and their employees find themselves dipping into savings and retirement assets to make ends meet when the unexpected happens.

Income protection, also known as disability insurance, replaces part of your income when an illness or injury keeps you from working. You can get it as standalone coverage, or as a supplement to group disability coverage. Plus, when you offer it at your worksite, you may be able to receive discounts. 

Talk to your financial professional to learn more about which protection is right for your business.

Protection for your business and your employees.

Principal® offers flexible and affordable solutions in the event of a disability:

  • Individual Disability Income insurance provides income replacement for your everyday financial needs.
  • Disability Buy-Out insurance funds a buy-sell agreement to buy out a totally disabled business owner.
  • Overhead Expense insurance reimburses your business for operating expenses.
  • Business Loan Protection provides payments to help cover the cost of a business-related loan obligation.*
  • Key Person Replacement insurance helps offset temporary staffing and recruitment costs of the loss of a key employee. *

Contact a financial professional to discuss disability protection strategies to meet your business needs.

Have questions?

Explore help for employers, or call us at 800-986-3343.

Help with protecting your most important assets

Replacing the Irreplaceable: Protection for the Disability of Key Employees

Key Person Replacement Insurance helps offset losing a key contributor by paying benefits to an employer if an employee becomes disabled.

The Gap in Protection You Can’t Afford to Miss

Key person insurance is a simple, efficient way to provide your business with the funds necessary to handle the loss of a key employee.

* Not available in all states.

This is an overview of the benefits of disability insurance, but there are limitations and exclusions. For cost and coverage details, contact your Principal® representative.