Disability Overhead Expense Protection
- If you were unable to work, would your business be able to keep the doors open?
- How would business expenses get paid (rent, salaries, utilities, etc…)?
- Would you have to turn clients away?
These unpaid expenses could force you to close your doors- permanently!
There is a solution, which can help to avoid this catastrophe- Overhead Expense Insurance.
How it Works: Disability Overhead Expense Protection reimburses the owner for covered overhead expenses up to a specified amount during a disability. It covers fixed business expenses such as:
- Lease, rent or mortgage payments
- Utilities
- Liability insurance
- Property taxes
- Accounting and legal services
- Professional trade dues and subscriptions
- Other fixed expenses normally incurred in running the business
Advantages
- Helps meet routine business expenses and allows the business to remain open.
- You don’t have to rely on creditors.
- Your savings and investment plans aren’t jeopardized
- Avoid foreclosure or liquidation
- Assures customers, creditors and employees of business continuity.
- Policy premiums are tax-deductible as an ordinary and necessary business expense.
A competent insurance advisor can assess your current situation, propose program design options, review the cost/benefit analysis, and implement your program.
Click here for a 1 Financial Marketplace Associate insurance expert to assist you with your disability overhead expense insurance needs.
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