Berkshire life redesigns disability product for home-based businesses. (New Products and Services).

Berkshire Life Insurance Company of America has adapted a disability insurance product to meet the income-protection needs of home-based businesses, which it said is the fastest-growing segment of the U.S. economy.

The new product, an adaptation of the Provider Plus policy, requires that applicants have been in business for at least three years, work at least 30 hours a week, earn at least $35,000 and have at least one contract with a client. Issue ages are 18 to 55, and benefit periods are two years, five years or to age 65. Pittsfield, Mass.-based Berkshire, a wholly owned subsidiary of Guardian Life Insurance Company of America, cited statistics from the National Association of Home-Based Businesses showing that 55 million Americans work from home, about one-third of whom operate their own businesses. These people usually have no support staff to keep the business running in the event of a disability.

"The business owner is CEO, CFO, CMO, receptionist and every position in between," said Susan M. Baker, manager of disability sales and marketing for Berkshire Life.