Aurora Workplace Solutions are about creating brilliant futures by developing wealth security for businesses and individuals. As experts in the industry, they keep on top of recent news including changes to relevant group benefit plans, retirement savings options, and guidelines and policies. They also keep their eyes open for informative articles we think are of interest to our current and potential clients. Aurora Workplace Solutions are Trusted Saskatoon Group Benefits and Insurance Professionals!
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What if you had an accident and couldn’t work for a while?
Your disability insurance would provide income instead of your salary until you were on your feet again, but what about those business bills? Unfortunately, none of us can predict a sudden illness or injury. It’s wise to consider how your absence would impact your business and ensure you’re prepared for unforeseen circumstances.
There is an answer!
Protect your business with Business Overhead Benefits from a Chambers of Commerce Group Insurance Plan®. Designed for self-employed business owners who generate all of their firm’s sales and revenues and are involved in the business's day-to-day operations, BOE covers your business’ fixed expenses if you’re away for an extended period due to disability. BOE must be purchased in conjunction with Long Term Disability benefits.
Available in blocks of $100, coverage is available from $500 to $2,000 monthly. The benefit will pay eligible business expenses after a 30-day waiting period for up to 18 months while you are disabled. Eligible business expenses are the actual, usual and customary expenses incurred by you, the owner, in the operation of your business. For partnerships, your assumed portion of such expenses is covered.
Eligible business expenses include:
- Rent, electricity, telephone
- Business taxes and licenses
- Property taxes for the place of business
- Leasing and amortization costs of equipment, including automobiles
- Interest, including the interest portion of mortgage payments, unpaid bills or lines of credit
- Amortization or periodic repayment of capital, including mortgages
In Addition:
- Salaries of personnel who do not generate income and whose services are essential during your disability
- Professional services of an outside accountant
- Professional dues and professional liability insurance
- Office cleaning
- Postage and office supplies
You can purchase Business Overhead Expense coverage in conjunction with Chambers Plan Long-Term Disability benefits. Together, they provide the coverage business owners need at an affordable price.
With quick claim payments, rate stability, and guaranteed renewable coverage, the Chambers Plan makes it easy for you to invest in your employees' health and well-being. 3,000 small businesses like yours join the Plan every year.
Aurora Workplace Solutions designs and creates custom group benefits plans that meet custom organization goals. Read more about their Group Benefits Plans or contact them today to get started!
'Creating Brilliant Futures'