BOE can buy you the time to weather the storm and evaluate whether a disability is temporary or permanent, so you can either get well and return to work, or sell your practice for its true and full value. After all - you never get top dollar when you are in a rush to sell.
When you get sick or hurt and cannot work, the bills keep rolling in. You are are key to the operations and success of your business and practice. Without you - everything slows down or just stops. Many business owners naively say "My business could run without me." REALLY? Why show up at all? For how long? A month? 3 months? 18 months? 2 years? When is the last time you took a 2 year vacation or sabbatical? Never, right? WHY are business owners always so BUSY? Because they are NEEDED!
Business Overhead Expense Policies, or "BOE" for short reimburse business owners up to $50,000 per month for their normal qualified business expenses such as:
In addition, "Business Loan Repayment Riders" (BLRR) can be added so loans are paid on your behalf directly to the lender, protecting your business' credit, reputation and good name.
"Substitute Salary Expense Riders" are also available to provide money to hire a replacement to cover your unique skills and duties to keep things going while you are out of commission.
And the good news is BOE premiums are even TAX-DEDUCTIBLE! They are also very affordable and reasonable, costing on average 1% or less than the monthly overhead covered.