Business overhead expense insurance can help your business meet its ongoing expenses if you or a co-owner can’t work due to a disability.
If you or a co-owner become disabled and unable to generate income, business overhead expense insurance can help you:
Pay salaries to retain valuable employees and keep your business running
Cover ongoing fixed expenses such as rent, property taxes and utilities
Business Overhead Expense Insurance Plan
The information above is a summary only. Please see a sample policy for complete details on terms and conditions, including benefits and exclusions.
Find answers to your questions about business overhead expense insurance.
Business overhead expense insurance is an expense reimbursement policy that covers the fixed monthly overhead expenses required to keep a business running until the return of the insured owner, after a period of disability. This allows business operations to continue until the insured owner either returns to work or makes a decision regarding the future of the business.
Business overhead expense insurance is designed for principals of closely held businesses or practices and owners of small businesses. It is most vital for businesses and practices in which the owner's ability to generate income makes the difference between the office being open or closed for business—for example, physicians, lawyers, accountants, engineers and others.
Our business overhead expense policy can be maintained until you (or another insured co-owner) reaches age 65. After age 65, the policy is conditionally renewable while you are employed full-time (minimum of 30 hours per week) and responsible for the expenses of maintaining your office or business. Rates and benefit periods are subject to change after age 65. You may continue the policy for the total disability benefit up to age 75. After age 75, your total disability benefit will be reduced by 50%.
Yes. Benefits will not be paid for disability if the disability is due to: