Office Overhead Expense Insurance
One of the prime dilemmas facing a disabled business owner is how to cover the ordinary expenses of the business during the period of disability, so that the business can continue in business, and will still be there when the disabled owner is ready to return to work.
Most closely held businesses resolve this problem by taking out an office overhead expense disability insurance policy on the owner of the business, so that the regular expenses of the business attributable to the disabled owner will be paid for by insurance benefits during a period of disability.
Benefits are paid in the form of a reimbursement of actual qualifying expenses to a maximum monthly limit. There are elimination periods which run from 30 – 90 days and benefit periods typically run from 12 – 24 months.