Not all BOE plans are created equal. There are some important reasons why a businessowner or professional practitioner should consider
Ohio National's Business Overhead Expense Plan:
- Security:
Non-cancellable and renewable at guaranteed rates to age 65; and renewable to age 75, if the insured is working full-time in the business.
- Efficiency:
Expenses may be carried over from month to month. If expenses exceed the maximum monthly benefit, they may be "carried forward" and paid in a month in which that month's expenses plus the carryover expenses are less than or equal to the maximum monthly benefit.
- Protects Business or Professional Specialties:
"Total disability" means that the insured is unable to do the substantial and material duties of his or her business, occupation, or profession.
- Convertible:
Under certain conditions, BOE can be exchanged for a personal disability income policy before age 65.
- Premium Waiver:
After the elimination period, all premiums are waived as long as the insured remains disabled.
- Presumptive Disabilities:
The insured is presumed totally disabled if an injury or sickness causes the loss of use of two or more of the following: hands or feet; sight, speech, or hearing. The waiting period is waived and benefits are paid even if the person continues to work.
Back to Top | Next
Ohio National is not affiliated with, nor does it endorse or sponsor, any particular prospecting, marketing or selling system.
Businesses should consult with their tax and legal advisors when establishing a formal plan.
