Do you know business owners whose personal service is a contributing factor to the income and success of the business? Business Overhead Expense Insurance is a disability policy that reimburses the business owner(s) for covered insurance expenses related to the operation of the business at his/her disability.
How Does Business Overhead Expense Insurance Work?
Your company purchases a disability insurance policy on the business owner(s) and pays the premiums. Should the insured business owners(s) ever become disabled, benefits are paid for covered business overhead expenses. (I.E., employees’ salaries*, lease payments, utilities, phone, miscellaneous office supplies and postage) related to the disabled owner’s interest in the business.
*Does not cover the salary of the business owner(s)
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