Business Overhead Coverage

If you become sick or injured, what will happen to the business?  Do you have enough funds on hand to continue paying your lease, heat, hydro while you recover?  If you are tied to a multiyear lease, will the landlord allow you to skip a few payments?    Consider Business Overhead Coverage (BOE) and your fixed payments and employee salaries can be covered while you recover.  BOE coverage is also very cost effective as its a business expense!

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Business Overhead Coverage is a very tax efficient insurance product as it reimburses fixed overhead expenses if you become disabled, and the premium is a business expense. This insurance allows the doors to remain open while you concentrate on recovery and is payable for up to 2 yrs.

Some of the expenses that can be reimbursed are:

• Accounting Fees
• Advertising (if you have a signed contract in place)
• Bank Charges
• Depreciation
• Employee Wages & Benefits
• Equipment Lease & Rental Payments
• Equipment Loan Principal & Interest
• Insurance Premiums for Property, Liability & Malpractice
• Janitorial Services
• Membership Fees (for Professional Organizations only)
• Mortgage (Principal or Depreciation)
• Office Rental Fees

• Office Supplies, Expenses & Postage
• Professional Dues & Licenses
• Property Taxes for the business
• Service Maintenance Contracts
• Telephone, Internet & Answering Services
• Utilities (Electricity, Water & Gas)
• Other Normal Customary Fixes Office Expenses

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