Overhead Expense

But it doesn't have to disable their business. With a Disability Overhead Expense insurance plan, your client will have peace of mind in knowing that their business expenses will be provided for while they tend to the business of getting well. During a period of total or partial disability, the plan would reimburse them for the customary expenses up to the limits stated in the policy, of operating a business away from their home.

There are many business and financial considerations that need to be addressed upon the disability of a principal. Since that person is still alive and not eligible to begin collecting retirement funds, he certainly would need some money to live on. He has an equity interest in the business and would need access to that. A disabled individual that can no longer contribute to the business can be quite a burden on the remaining partners. Both parties need to affect a transfer of ownership whereby the disabled individual can receive compensation for his equity interest and remaining owners would have full control of ownership rights. It also reduces the burden of dealing with the disabled partners, significant other, or family

Some covered expenses include:

• Malpractice Insurance
• Property and Liability Insurance
• Taxes
• Laundry and Maintenance services
• Utilities
• Employee Salaries
• Salary for temporary replacement of insured
• Fees for ancillary services
• Lease or Mortgage Payments
• Payments for equipment, furniture, and supplies

An overhead expense insurance plan provides help to maintain your business when you need it most-when you are unable to generate the necessary revenue to keep your business open due to a disabling injury or sickness.

Wide range of valuable features and benefits:

• Guaranteed premiums
• Noncancellable and guaranteed renewable until age 65, and conditionally renewable thereafter