Request a Disability Business Overhead Expense Insurance Quote

What is Disability Overhead Expense?.

In order to obtain a disability business overhead expense insurance quote please fill out the following form and click "SUBMIT" below

My Extra Benefits Card specializes in the sale of personal disability insurance as well as business overhead expense disability insurance. If you are the owner of a business where you are the primary source of business revenue, business overhead expense insurance can make sure that you have a business to return to in the event of your disability.

Request a quote for a Business Overhead Expense policy below, and one of our agents will provide you with a quote for this tax-deductible insurance policy. Business Overhead will reimburse your business for deductible overhead expenses that occur even while you are disabled such as employee salaries, insurance premiums, lease payments and utilities. Companies will offer as much as $30,000 a month in overhead expense insurance, and our agency will write policies for as little as $5,000 a month. Request a quote now to make sure that you have a business to come back to in the event of your disability. Also you can deduct the annual premiums for this type of insurance.

We will automatically receive your information and begin working on your disability insurance quote immediately. If you would like to call us to discuss the quote, our number is 866-99BENEFITS or 866-992-3633. All quote requests will be fulfilled within one business day, after which you will receive an email from us with the 4 top disability business overhead expense insurance quote that best fit your occupation and benefits desired.

Listed below are the companies that we represent

Standard • Met Life • Union Central

Principal • Illinois Mutual • Petersen International

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What Is Disability Insurance Business Overhead Expense

Standard vs. Professional Business Overhead Expense Disability Insurance

Disability insurance business overhead expense provides reimbursement for the expenses of operating your business if you are disabled and cannot work. These expenses may include mortgage payments or rent, electricity, telephone, heat, water, laundry and other fixed costs normal to the operation of the practice

Professional overhead expense disability insurance, on the other hand, pays some additional costs including the salaries of all regular employees except those who are members of your profession. In a medical partnership, for example, salaries for the receptionist and nurse would be covered, but not the salary of your physician partner or employee. However, high-quality professional overhead policies will cover at least part of the salary of a professional temporary replacement for you, such as a doctor retained to fill in during total disability.

Look for These Features in Your Coverage

Here are some of the extras you can find in high-quality professional overhead expense policies:

The Carry-over Provision... To accommodate fluctuating monthly expenses
Overhead expense benefits reimburse the expenses incurred in keeping your office open during your disability. However, in many practices these expenses fluctuate, so one month they might be less than the policy benefit, other months more.

Building a carry-over provision into the policy solves this problem. When monthly expenses are less than the maximum monthly expense benefit, the unused benefits are simply carried over and made available for use in months when expenses exceed the maximum monthly benefit. Under certain conditions, overhead expenses may actually continue to be reimbursed even beyond the indemnity period.

The Residual Rider... To cover partial disability
If you suffer a disability that limits you to part-time work, your practice's gross revenue may decrease to the point where you cannot meet your office expenses. In such a case you would certainly need help to pay your office bills, just as you would if you suffered a total disability. Yet many overhead expense policies require you to be totally disabled to be eligible for benefits.

To avoid this problem, look for an optional policy provision for what are called "residual benefits" paying the difference between current gross revenue and current expenses if you are partially disabled. These benefits are payable when your practice's monthly expenses exceed gross income and you have lost at least 20% of your prior gross monthly revenue.

Future Purchase Option... To help benefits keep up with inflation As your practice grows, expenses are bound to increase, sometimes to the point where they can no longer be handled by your POE coverage. One very valuable optional provision to help with this is a "future purchase option" giving you the right to increase coverage each year, without proof of medical insurability, until age 55.

Coverage for all reasonable expenses

With a high-quality policy, more expenses are eligible for reimbursement during disability than with more standard policies. When you're evaluating plans, check to make sure the following are covered:

• Both principal and interest on your practice's mortgage payments
• Cost of equipment leased or purchased prior to disability
• Up to 80% of salary for a qualified replacement for you for up to six months
• Depreciation or scheduled installment payments of principal and interest on debts

Tax Considerations

Disability overhead policies are 100% tax deductible

Professional Overhead Expense Insurance offers several tax advantages to your practice:

Premium payments are tax-deductible as a reasonable business expense.

Overhead expense benefits received during disability, while taxable upon receipt, are used to pay practice-related expenses which are tax-deductible. The net tax result is a "wash."

Affordable Protection for Your Practice

The good news is that quality Professional Overhead Expense coverage is both available and surprisingly affordable... especially when compared to other monthly services you already pay for.