Business Overhead Expense

Our Business Overhead Expense Program

  • The continued success and wellness of a private business is contingent on the maintenance of day to day expenses. When basic overhead costs are disrupted by a business owner's disability it is rare that the business can survive. IDU's Business Overhead Expense Disability Product equips these businesses with the ability to pay monthly expenses while the Disabled owner recovers or in the unfortunate case where the company must be liquidized, and closure related costs are incurred.

  • Domestic Market Shortfalls

    • Benefit Limits
    • Employee Count Above 15
    • Impaired Health Risks
    • Ages Above 60
    • Risk Avocation Exclusions
  • Target Markets

    • Small & Family Owned Business
    • Dental Practices
    • Gray & Blue-Collar Business
    • Law Firms
    • Accounting Firms
    • Medical Offices
  • Key Features

    • Policy Terms up to 5 years
    • Benefits structured as either monthly or combination of monthly + lump sum
    • Own Occupation Definition of Disability
      • Insured is unable to perform the substantial & material duties of their occupation
    • Elimination Periods: 30 to 365 days
    • Monthly Benefit Periods: 12 to 36 months
    • Flexible Premium Payment Options
    • Waiver of Premium
    • Presumptive Disability Benefits
    • Coverage Designed to Reimburse Incurred Expenses
  • Monthly Benefit Overview

    Once the Elimination Period has been satisfied, the monthly benefits will begin and are paid out until the Benefit Period has been exhausted or Total Disability ends, whichever the sooner.

    Used to keep 'lights on' while the Business Owner is temporarily out work due to a disability

  • Lump Sum Benefit Overview

    Considered a career ending benefit, the Lump Sum is triggered by the Permanent Total Disability of the Insured, meaning they are not expected to recover or return to work. The benefit is paid out either following the exhaustion of the monthly benefit or once Elimination Period has been satisfied.

    Used for larger, final expenses related to closure of the business due to permanent loss of Owner from a Disability.

Product Highlights

  • Same premiums throughout Policy Term

  • 3-years Policy-Term

  • Monthly and/or Lump Sum Benefits up to market maximum limits

  • Elimination Periods of 90 or 180 days

  • Own Occupation definition

*Less existing in-force coverage. Benefits tailored to match needs. Additional coverage available.

For more info about our BOE Insurance program, download our brochure

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