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Business Overhead Expense Insurance

Protect Yourself with Business Overhead Expense Insurance

Unfortunately, none of us can be sure that a sudden illness or unexpected injury won’t happen. It’s wise to consider how your absence would impact your business and make sure you’re prepared for unpleasant circumstances.

Designed for self employed business owners who generate all their firm’s sales and revenues, and who are involved in the day-to-day operations of the business, business overhead expense insurance (BOE) covers your business’ fixed expenses if you’re away for an extended period of time due to disability.

BOE must be purchased in conjunction with Long Term Disability benefits.

How Does Business Overhead Expense Insurance Work?

BOE insurance is available in units of $100 and business owners may purchase between $500 and $2,000 of monthly coverage. In the event of your illness or injury, benefits would be payable starting on the 31st day of an illness or injury and can continue for up to 18 months.

What Can the Money Be Used For?

Business overhead expense insurance benefits can be used on eligible business expenses such as:

  • Mortgage or rent
  • Utilities
  • Phones
  • Taxes and licenses
  • Equipment costs
  • Corporate car leases
  • Professional services (e.g., bookkeeping)
  • Salaries for personnel who do not
    generate revenue and whose duties are vital for business operations


Why Should I Get Business Overhead Expense Insurance?

If you want to protect your business in the event of your extended disability, this benefit is for you. When used together with Long Term Disability insurance, business overhead expense benefits can let you recover,           worry-free, while your business continues to run as smoothly as possible.

This plan doesn’t just protect your business, it gives you peace of mind.

Why Chambers Plan?

Chambers Plan has over 25,000 clients across Canada, and most are small business owners or self-employed individuals.

Our clients stay with us year after year because they enjoy the Chambers Plan Advantage: stable group rates, flexible plan options and excellent customer service at both the local and national level.

We want to help your business stay successful should the unexpected occur. If you don’t have a contingency plan, request a quote today.

Your Chambers Plan advisor will walk you through the details of including BOE insurance in your Chambers Plan group insurance – the best way to protect you and your business.

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