Business Overhead Expense Insurance
![[Business Overhead Expense Insurance]](/images/businessoverheadexpense.jpg)
You can apply for the BOE program if you are in full-time practice and under age 60. All applications are subject to Company acceptance. The maximum monthly expense benefit for which you may apply is $15,000 for members under age 50, $10,000 ages 50-59.
Features and Highlights
- Your "own occupation" definition of disability.
- After the waiting period has been satisfied, benefits are paid retroactive to the first day of disability.
- Plan features and benefits will remain the same for the lifetime of the policy.
- Step rate (age-bracketed) premiums.
- Premiums are normally a tax-deductible business expense.
- Guaranteed Purchase Optional Available.
- Underwritten by American General Assurance Company, NAIC #68373, 1000 Woodfield Road, Schaumburg, IL, 60173, licensed in all states plus DC except not NY or PR, Policy #S-10700 TN.
The underwriting risks, financial and contractual obligations and support functions associated with the products issued by American General Assurance Company are its responsibility.
Business Overhead Expense Insurance
Semi Annual Premiums* per $1,000 of Monthly Expense
Waiting Period:
| Attained Age | 15 Days | 30 Days |
|---|---|---|
| Under 30 | 24.00 | 18.00 |
| 30 - 39 | 36.00 | 28.00 |
| 40 - 49 | 58.00 | 48.00 |
| 50 - 59 | 103.00 | 88.00 |
| 60 - 69 | 210.50 | 188.00 |
* Accident and Sickness Benefits are payable to a maximum of 24 months per occurrence. Coverage terminates upon attainment of age 70.
Exclusions -- these policies do not cover any loss or disability caused or contributed to by: a) suicide or attempted suicide, while sane or insane (in Missouri, while sane); b) intentionally self-inflicted injury; c) war or act of war whether declared or undeclared; d) service in the armed forces of any country or authority (in such event the pro rata unearned premium will be returned to You); e) traveling in or flying any aircraft operated by or under the direction of any military (land, sea, air) authority or while in any aircraft being used for any test or experimental purpose; f) participation in the commission or attempted commission of a felony.
You shall not be entitled to benefits for two periods of disabilities at one and the same time. In addition, no benefits shall be payable for any period of Total Disability during which You are confined in a penal or correctional institution.