A majority of America's small business owners (53%) believe that a personal long-term disability will lead to the likely bankruptcy of their business.

InsureWell, the leading online disability insurance marketplace for small businesses and professionals, polled over a hundred small businesses nationally, finding that 19% of small business owners believe that in the event of their long-term disability it is a certainty that the business would enter bankruptcy.

Bill Unrue, CEO of InsureWell, said: "These findings underscore that the majority of small businesses succeed or fail on the basis of a single key individual, the owner. Far too many small business owners however forego the necessary protection to insure against their potential loss to the business due to long-term disability. Business Overhead Expense insurance is absolutely critical for small business owners to protect their long-term investment and equity in the business."

In addition to 19% citing bankruptcy as a certainty, an additional 14% stated bankruptcy to be a very high probability (above 75% likelihood), with 20% of small business owners defining insolvency as a strong likelihood (above 50% likelihood).

The loss of the business owner can be devastating for the many small businesses which operate on the day-to-day leadership of the business owner, his or her personal business relationships and tight working capital. All business owners should have two types of disability coverage: individual coverage to protect their personal income, and Business Overhead Expense insurance which can help by paying a portion of overhead expenses, such as the owner's salary, in the event of a business owner's disability. BOE insurance premiums are also tax deductible, making it a sound financial and business risk investment.

Given many small business owners sacrifice salary to build capital within the firm, a bankruptcy can also be devastating for the long-term financial security of a business owner's family, due to the loss of equity when the business is closed down.

Business Overhead Expense insurance is also becoming increasingly critical as more and more small business owners continue to work into their late sixties and seventies, where the likelihood of a disability is significantly higher.