Income Protection

Keep your employees and your business financially fit.

If you or one of your key employees suddenly became too sick or hurt to work, how would the business bills be paid? Your employees’ salaries? What about your personal expenses – like housing or retirement savings?

As a business owner, your income is critical to support both your family and your business—and the same goes for your employees. Yet many business owners and their employees find themselves relying on savings and retirement assets to make ends meet when the unexpected happens.

Income protection (with disability insurance) helps business owners and employees replace part of their income when illness or injury keeps them from working. It can be offered as standalone coverage, or as a supplement to group disability coverage. Plus, when offered at the worksite, discounts on coverage may be available. 

Find an advisor to talk to a financial professional and learn more about the protection that’s right for your business.

Protection for your business and your employees.

Principal Life Insurance Company, a member company of the Principal Financial Group® (The Principal®), offers solutions designed to be customizable, flexible, and affordable.

  • Individual Disability Income (DI) Insurance provides income replacement for your everyday needs.

  • Disability Buy-Out (DBO) Insurance funds a buy-sell agreement to buy out a totally disabled business owner.

  • Overhead Expense (OE) Insurance reimburses your business for operating expenses while you’re unable to work.

  • Business Loan Protection provides payments to help cover the cost of a business-related loan obligation.

  • Key Person Replacement (KPR) Insurance offsets temporary staffing and recruitment costs in the event of an insured key employee’s total disability.

Contact an advisor to discuss your total disability protection strategy.

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.

Disability insurance has limitations and exclusions.  For cost and coverage details, contact a Principal Life financial representative.