What is a business disability income policy?

A business disability income policy is an insurance product designed to provide financial protection for business owners and key employees in the event of a disability that prevents them from working. It typically offers a percentage of the insured's income or business profits for a specified period, helping to cover ongoing expenses and maintain the business's financial stability. This type of policy can be crucial for ensuring that a business can continue operating during the owner's or key person's recovery period.