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  1. Business Expense Power®

    Meet Rene Aguilar

    Two and a half years ago, Rene Aguilar took a chance by starting his own third-party logistics supply company. Now he'll do whatever it takes to protect his young business and his eight employees. Even though he's only 34, Rene knows the future is unpredictable, and that's why he's made income protection a priority – so he and his company can carry on if the unexpected ever happens.

    What is Business Expense Power®?

    Whether you're running a long-time establishment with a payroll of employees or a local corner shop, owning a business brings an array of responsibilities. As the revenue generator for your business, if you become sick or hurt and unable to work, your business could suffer.
    Business Expense Power®, a business expense disability income insurance plan, is designed to help you keep your business viable by reimbursing you for your eligible monthly business expenses.

    To see the top ten reasons you should own
    Business Expense Power®, click here!

  2. Policy Basics

    Policy Basics

    • Premiums generally deductible as a business expense*
      * You should consult a tax advisor to determine deductibility.
    • Guaranteed renewable until age 67, which means that as long as premiums are paid, the policy cannot be canceled
    • Choose a 30, 60 or 90 day elimination period - that is the amount of time between the beginning of the disability and the date you qualify to begin receiving benefits
    • Choose a 12, 18 or 24 month benefit period - that is the maximum length of time you will receive payment from Illinois Mutual for each period of disability
    • Receive base benefits in addition to Social Security or Worker's Compensation
    • 24-hour coverage, 7 days a week, on or off the job
    • Must be totally disabled from your own occupation for two years; after two years, you must be totally disabled from any occupation
    • Waives future premiums and pays back premiums after 90 days of total disability with our built-in Retroactive Waiver of Premium

  3. Options

    Options

    You can add options to your policy. Some of our most popular options are:

    • Return of Premium Rider returns the premiums you paid, less claims, at age 67
    • Guaranteed Insurability Option Rider provides the option to purchase future base benefits without evidence of good health
      • Certain policy and underwriting limits apply, such as
        • Option not available after age 55
        • Each purchase must be exercised at least 24 months apart
        • Each purchase must be at least $100 of additional benefits
        • May not be exercised more than five times
    • Retroactive Injury Benefit Rider pays benefits retroactively from first day of total disability after satisfying the elimination period

  4. Sample Tax Forms

    Sample Tax Forms

    Below are sample tax forms that highlight eligible business expenses:
    S-Corporation
    f1120s U.S. Income Tax Return for an S Corporation
    f1120sk-1 Schedule K-1
    f1040 E 1040 – U.S. Individual Income Tax Return
    f1040 sched e Supplemental Income and Loss
    Sole Proprietor
    f1040 C 1040 – U.S. Individual Income Tax Return
    f1040 sched c Profit or Loss from Business
    Partnership
    f1065 U.S. Return of Partnership Income
    f1065 k-1 Schedule K-1
    C-Corporation
    fw2_08 revised W-2 Wage and Tax Statement
    f1120 U.S. Corporation Income Tax Return
  5. Multi-Policy Discount

    Multi-Policy Discount

    policiesBusiness owners, would you like a 5% premium discount? If both a Personal Paycheck Power® policy and a
    Business Expense Power® policy application are submitted at the same time and issued, you are eligible for a 5% premium discount. The 5% discount applies to both applications. Together, these policies can cover a portion of your net income and eligible business expenses. Protect your business and yourself while you save money!

  6. Business Owner Allowance

    Business Owner Allowance

    For business owners applying for Personal Paycheck Power®, Illinois Mutual will increase your insurable net earned income by 25% in order to qualify for more base benefits.

    This 25% increase is subject to a maximum $1,000 of additional base monthly benefit. Published issue and participation limits still apply.

    Not available to Class 4 occupations or chiropractors. The Business Owner Allowance can be denied at the underwriter’s discretion on above average risk cases.

  7. Upgrade to Business Class

    Upgrade to Business Class

    Business owners, if you are applying for Personal Paycheck Power®; or Business Expense Power®, we will offer you a “one-class” occupation upgrade. To take advantage of this upgrade, you must: 

    • Have at least 20% ownership of your business.
    • Demonstrate two consecutive years of profitable business operations immediately preceding the application completion

    Possible class upgrades are:

    • Class 1 upgraded to class 2
    • Class 2 upgraded to class 3
    • Class 3 upgraded to class 5

    Occupation upgrades are limited to one class. The business owner occupation class upgrade is for rate purposes only and does not change the availability of the optional riders or other policy provisions available to the upgraded occupation. Not available to Class 4 occupations or chiropractors. The class upgrade can be denied at the underwriter’s discretion on above-average risk cases.

  1. Business Expense Power®

  2. Policy Basics


    • Premiums generally deductible as a business expense*
      * You should consult a tax advisor to determine deductibility.
    • Guaranteed renewable until age 67, which means that as long as premiums are paid, the policy cannot be canceled
    • Choose a 30, 60 or 90 day elimination period - that is the amount of time between the beginning of the disability and the date you qualify to begin receiving benefits
    • Choose a 12, 18 or 24 month benefit period - that is the maximum length of time you will receive payment from Illinois Mutual for each period of disability
    • Receive base benefits in addition to Social Security or Worker's Compensation
    • 24-hour coverage, 7 days a week, on or off the job
    • Must be totally disabled from your own occupation for two years; after two years, you must be totally disabled from any occupation
    • Waives future premiums and pays back premiums after 90 days of total disability with our built-in Retroactive Waiver of Premium

    Back to Top
     
  3. Options


    You can add options to your policy. Some of our most popular options are:

    • Return of Premium Rider
    • Guaranteed Insurability Option Rider
    • Retroactive Injury Benefit Rider

    Back to Top
     
  4. Multi-Policy Discount


    policiesIf both a Personal Paycheck Power® policy and a Business Expense Power® policy application are submitted at the same time and issued, business owners are eligible for a 5% premium discount. The 5% discount applies to both applications.


    Back to Top
     
  5. Business Owner Allowance


    For business owners applying for Personal Paycheck Power®, Illinois Mutual will increase your insurable net earned income by 25% in order to qualify for more base benefits. This 25% increase is subject to a maximum $1,000 of additional base monthly benefit. Published issue and participation limits still apply.

    Not available to Class 4 occupations or chiropractors. The Business Owner Allowance can be denied at the underwriter’s discretion on above average risk cases. The allowance does not apply to farmers or new business owners who are utilizing Illinois Mutual’s non-traditional financial underwriting programs available to them.
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  6. Upgrade to Business Class


    Business owners, if you are applying for Personal Paycheck Power® or Business Expense Power®, we will offer you a “one class” occupation upgrade. To take advantage of the upgrade, you must:

    • Have at least 20% ownership of your business.
    • Demonstrate three consecutive years of profitable business operations immediately preceding the application completion.

    Possible class upgrades are:

    • Class 1 upgraded to class 2
    • Class 2 upgraded to class 3
    • Class 3 upgraded to class 5

    The business owner occupation class upgrade is for rate purposes only and does not change the availability of the optional riders or other policy provisions available to the upgraded occupation.
    Not available to Class 4 occupations or chiropractors. The class upgrade can be denied at the underwriter’s discretion on above average risk cases. The class upgrade does not apply to farmers or new business owners who are utilizing Illinois Mutual’s non-traditional financial underwriting programs available to them.

    Back to Top
     
These policies have exclusions, limitations and terms under which the policies or options may be continued or discontinued. For costs and complete details of the coverage, contact your insurance agent or Illinois Mutual. Options may have an additional premium. Availability of some features and options may vary by state and occupation class

Policy Form DI105, Disability Income Policy; Policy Form BE105, Business Expense Policy; Policy Form 9253, Retroactive Injury Benefit Rider; Policy Form 9266, Return of Premium Rider; Policy Form 9267, Guaranteed Insurability Option Rider

Not available in AK, CA, DC, HI or NY. May not be available in other states.

Pre-Existing Condition Limitation*
During the first 2 years after the Date of Issue, this Policy will not pay benefits:
(1) for any conditions diagnosed or treated by a physician within 2 years prior to the Date of Issue; or (2) for any condition which caused symptoms within 2 years prior to the Date of Issue that would have caused an ordinarily prudent person to seek medical diagnosis, care or treatment.
Exceptions and Reductions*
We will not pay benefits for disability that results (a) from normal pregnancy or childbirth; (b) from intentionally self-inflicted injury or sickness; (c) from your commission or attempted commission of a felony; (d) from war, declared or not; (e) from any military service, except during active duty for trainingof less than 60 days. The pro rata premium will be refunded for a period during which you are not covered for such military reason; or (f) we will not pay benefits while you are incarcerated in any penal or correctional institution.

*May vary by state
†Total Disability Total Disability for any one period of disability starting while this policy is in force means:
a)During the first 24 months, your inability to perform the substantial and materials duties of your occupation and you are not engaged in any occupation for wage or profit.
b)After 24 months, your inability to perform the substantial and material duties of any occupation for wage or profit in which you might be expected to be engaged, with due regard to your education, training, experience and you are not engaged in any occupation for wage or profit. 

Limited Benefits for Mental or Nervous Disorders, Alcoholism or Drug Abuse. The total amount payable under the policy for total disability caused or contributed to by a mental or nervous disorder or alcoholism or drug abuse shall not exceed a cumulative lifetime maximum of 24 months.
 
Limited Benefits for Foreign Travel
If totally disabled due to an injury or sickness sustained or continued while outside of the United States, Canada or Mexico, the Maximum Total Disability Benefit Period will be limited to 90 days. After the 90 day period, benefits will not be paid until returning to the United States, Canada or Mexico. Any benefits paid will be deducted from the remaining period of disability if you are still Totally Disabled upon your return to the United States, Canada or Mexico.