Cost-Effective Business Overhead Insurance
Running a medical practice or small business is challenging when living with a disability. Disability overhead insurance covers ongoing business expenses while you recover.
While individual disability insurance protects your income if you’re unable to work, it doesn’t account for your medical practice. Business overhead insurance provides relief to business owners by covering day-to-day business expenses while you focus on recovering.
Physician’s Resource Services helps you navigate the qualification process and makes sure you receive the policies and insurance premiums you need to protect your small business and your income. Our financial advisors have experience in every form of business overhead expense (BOE) insurance and leverage our relationships with insurance companies to negotiate beneficial terms.
Our financial planning is detailed and tailored to your specific needs. Overhead expense coverage includes:
Business overhead expense insurance covers small businesses that have expenses a policy can cover. All fixed business expenses that occur during the routine operation of your medical practice qualify. If you can’t perform your job and are receiving care for your disability, you qualify for business overhead insurance.
Insurance companies have different eligibility requirements that the PRS team can help you navigate. With years of experience in the industry, we can negotiate favorable insurance premiums on your behalf. In general, to qualify for overhead expense coverage and begin receiving monthly benefits, you must:
Unlike individual disability income insurance, business overhead expense insurance is tax deductible. While policy benefits are subject to income tax, premiums are deductible as a direct business expense.
Physician’s Resource Services can guide your financial planning and help you understand the tax implications of your insurance protection. Our tax preparation and planning services are designed to maximize your returns and meet your short- and long-term financial objectives.