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Unexpected injuries or illnesses can disrupt your business operations. Business Overhead Expense Insurance helps cover essential expenses like rent, utilities, and employee wages while you recover. This ensures your business remains financially stable, preventing unnecessary closures and financial burdens during your absence. Secure your business and focus on getting back to work.
If you’re unable to work due to a disability, this insurance reimburses fixed business expenses, keeping your operations running. Depending on the policy, after a short waiting period, it may cover costs like rent, accounting, employee wages, utilities, and equipment leases for up to 24 months. Payments go directly to you or your business, ensuring financial stability while you recover. The coverage is flexible and designed to prevent financial disruptions, making sure your business doesn’t suffer due to an unexpected illness or injury.
Your business depends on your ability to work. If a sudden illness or injury puts you out of action, covering expenses can be challenging. This insurance ensures you won’t have to dip into savings or shut down operations. It protects your income, employees, and business stability during tough times.
From consultation to confirmation, get tailored coverage that helps your business stay financially stable if you're unable to work.
Provide the required documents to complete your insurance application.
Keep Your Business Going
Most small businesses can’t operate beyond 60 days without the owner.
Apply NowReceive a personalized insurance policy designed to meet your specific coverage needs.
Once approved, you’ll receive your insurance certificate and be fully covered.
Choosing the right coverage amount ensures your business stays financially stable.
Include rent, salaries, utilities, and insurance.
Adjust coverage if expenses vary.
Plans typically cover 12 to 24 months.
A financial advisor can help tailor coverage to your business.
This insurance is essential for business owners, self-employed professionals, and entrepreneurs whose income directly supports their business operations. It’s particularly beneficial for doctors, lawyers, accountants, consultants, contractors, and small business owners who rely on steady income to cover rent, employee salaries, and other fixed expenses. If your business would struggle financially during your absence due to an illness or injury, Business Overhead Expense Insurance ensures continuity and financial stability, protecting both your business and employees while you recover.
Business Overhead Expense Insurance remains in effect as long as premiums are paid and policy conditions are met. Most policies provide coverage until age 65, with some allowing extensions under specific conditions. Once a claim is approved, benefits typically last for 12 to 24 months, depending on the selected plan. After the benefit period ends, payments stop even if the business owner has not fully recovered. Selecting the right coverage ensures financial security for your business during unexpected health-related disruptions.
Affordable and comprehensive coverage for peace of mind.
Schedule A MeetingThe elimination period/waiting period is the waiting time before Business Overhead Expense Insurance benefits begin after a covered disability occurs. It typically ranges from 15 to 90 days, depending on the policy you choose. During this period, the business owner must cover expenses out of pocket. A shorter elimination period means faster benefits but may come with higher premiums, while a longer period lowers premiums but delays payments. Selecting the right elimination period depends on your financial ability to manage expenses temporarily.
The cost of Business Overhead Expense Insurance varies based on multiple factors, including your occupation, age, gender, and smoking status. Jobs involving manual labor generally have higher premiums. Older individuals and smokers also pay more. The benefit amount, elimination period, and benefit duration affect pricing, with shorter waiting periods and longer coverage increasing costs. Since pricing depends on these variables, it is best to request a personalized quote to determine the exact cost based on your specific business needs and risk profile.
To qualify for Business Overhead Expense Insurance benefits, you must meet the policy’s definition of disability. A total disability means you cannot perform essential job duties due to illness or injury and are receiving medical care. Some policies also provide partial disability benefits, which apply if you can still work but are unable to perform key tasks or work full-time. Partial disability benefits are typically 50% of the total disability amount. Understanding these terms helps determine eligibility for claims.
Yes, Business Overhead Expense Insurance is tax-deductible as a business expense, reducing your taxable income. Whether you are a sole proprietor or incorporated business owner, you can claim the premiums as a deduction. However, any benefits received are considered taxable income, though this is offset by the covered business expenses. This means the insurance provides financial relief without increasing your overall tax burden. Consulting a tax professional can help you maximize deductions based on your business structure.
Flexible insurance plans designed to match your business operations and financial needs.
Rent, salaries, utilities, and fixed costs.
Keeps business operations smooth.
Ensures staff get paid during your absence.
May qualify as a business expense.
Benefits can go to you or your business.
Quick claim processing ensures timely assistance.
Ideal for self-employed and professionals.
Choose benefit amounts based on business needs.
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