Business Overhead Protection

If you own a business, we can help keep it operating with a Business Overhead ProtectorSM insurance policy. It provides reimbursement for your share of business overhead expenses if you are unable to work because of an injury or sickness.

Typical covered expenses:

  • Mortgage interest or lease payments
  • Employee wages
  • Utility costs
  • Business insurance premiums

Policy Features

A Business ProtectorSM policy covers the following types of overhead expenses:

  • Salaries, fees wages, benefit payments and employment taxes for employees
  • Rent and lease payments for furniture, equipment and premises
  • Utility costs including phone, electricity, heat and water
  • Laundry, janitorial and maintenance service costs
  • Property, liability, malpractice and business insurance premiums
  • Professional, trade and association dues
  • Business property taxes
  • The greater of depreciation or principal payments on business loans on business property
  • Interest on business debt existing on the day your disability begins
  • Legal, accounting and similar business fees
Your coverage is guaranteed renewable to your termination date1 as long as you pay the premium on time. We will not change any part of the policy, including the premium, until the termination date.
With the Renewal Option, you may ask to continue the policy beyond your termination date if you are working at least 30 hours per week and are not disabled at the time of your request. Certain limitations apply.
We pay benefits if you cannot work in your regular occupation because of a total disability, as defined by the policy.
While the insured is partially disabled, we'll reimburse 50 percent of the covered business expenses (up to the policy maximums) for up to six months.
While you remain continuously disabled, unused benefits and unreimbursed expenses may carry forward to future months of continuous disability (subject to policy limits).
If your needs change after two years from the effective date and before your 60th birthday, you may request conversion of this policy to an individual disability income policy. Certain limitations may apply. Contact your insurance representative for more information.
While you are disabled, we will waive premiums due and refund any premiums due and paid since your disability began.
We presume you are eligible for the total disability benefit if an injury or illness results in loss of speech, hearing in both ears, sight in both eyes or the use of two limbs, as defined by the policy.
If you die while receiving total disability benefits, we will pay the owner or the owner's estate up to three times the base amount, but not more than any remaining maximum benefit. This benefit is not available in some states.
We pay a monthly benefit if you become totally disabled more than six months after the policy's effective date because of a sickness or injury caused by cosmetic or transplant surgery.

Optional Riders

This rider is available to occupation classes 3A, 4A and 5A at no additional cost. This rider allows you to hire someone (other than a family member) to perform his or her duties and to have that person's salary included as a covered expense.
This rider adds a residual disability benefit and recovery benefit to your coverage. We'll pay a residual disability benefit if your business loses at least 20 percent of its income while you try to return to work. We may also pay a limited recovery benefit for up to 12 months if, immediately after a disability for which you received benefits, you return to work for at least 30 hours per week in your regular occupation.
As your business grows and as the expenses increase, this rider allows you to purchase increased benefits at two-year intervals, regardless of health (subject to financial underwriting requirements).

Talk to your financial advisor about your business protection options.

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Also see:
Business Equity Protection