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201 GREAT IDEAS for Your SMALL BUSINESS, Third Edition by Jane Applegate

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GREAT 48 IDEA: Buy Disability Insurance

Once you find a reputable independent insurance broker, ask them about a very important kind of insurance for yourself: disability insurance.

Insurance industry experts estimate that only 30 to 40 percent of the nation's small business owners have disability insurance. This is a chilling statistic, especially when you consider that at age 37—the prime age for an entrepreneur—the probability of becoming disabled is three and a half times higher than the probability of death.

Virtually all personal disability policies offer the same kinds of benefits. They generally pay a monthly benefit that is slightly less than what you would earn if you were healthy and working. This gap is intentional: insurers want ...

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