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Disability Overhead Expense Insurance
This is an insurance benefit that reimburses the owner for covered overhead expenses up to a specified amount during a disability. It covers fixed business expenses such as:- Lease, rent or mortgage payments
- Utilities
- Liability insurance
- Property taxes
- Accounting and legal services
- Professional trade dues and subscriptions
- Other fixed expenses normally incurred in running the business
When a disability occurs, generally three things are sure to happen to a business owner: - their regular living expenses will continue to occur;
- business expenses will continue to occur;
- at this most inopportune time, the income earned from the business will be severely interrupted.
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