Guardian Life Insurance Company of America is offering its California agents new disability income insurance options for local business owners.

The new programs can help cover overhead expenses and facilitate buyouts for business owners, Guardian says. It also offers a new worksite program featuring portable DI policies that employees can take with them should they change employers.

Protections for business owners include overhead expense coverage, which pay for typical business costs in the event the owner is absent due to disability. In can cover such costs as rent, utilities, salaries and even the cost of an owner’s temporary replacement, says Guardian.

The program’s buy-out coverage would provide business owners with the money needed to reimburse a disabled partner for his or her financial interest in the company.

Options include a waiver of premiums for up to 12 months if the policy owner becomes unemployed; and additional coverage to help protect employee contributions to an employer-sponsored retirement plan, as well as the employer match.

The new program, known as DI@Work, provides coverage with no medical underwriting restrictions, according to Guardian, New York.

Guardian’s agencies in California are offering local support and service for individual disability income insurance cases sold under the program.

The DI products are underwritten by Berkshire Life Insurance Company of America, Pittsfield, Mass., a subsidiary of Guardian.