Business Overhead Expense Disability Insurance Vancouver

Disability insurance is usually difficult to apply for because the insurers require both proof of health and income.  For self employed people or businesses, sometimes there is a significant recurring overhead expense, such as rent, leases, salaries but the net income is variable and sometimes slim.  If the net income is slim then insuring only the net income is not that meaningful to the insured person.

Business Overhead Expense Disability Insurance in Vancouver

This problem can be overcome by using Business Overhead Expense Disability Insurance.  This type of policy will cover the expenses of the business instead of looking at lost income.  By underwriting based on expenses rather than income, the amount of coverage can usually be higher and is easier to underwrite financially.

On a disability of the insured, then the insured can have the peace of mind that the business can still survive as all the recurring expenses will still be covered until the return of the insured person to the business.  In order words, the insured can have a peace of mind that after recovery, they still have a source of income to come back to.