An unexpected accident or illness can destroy or seriously impair your ability to keep your business running. While Overhead Expense disability coverage can't keep you healthy and working, it can help keep your business healthy and working.
Ask yourself these important questions:
 | If I were sick or injured and couldn't work, would I have a source of income to pay my business expenses? |
| Could I afford to keep my business open? |
| Could I afford to close my business? |
Because your business and your ability to work as a dentist or dental specialist are your most valuable assets, you should seriously consider the value of carrying a properly designed Overhead Expense disability policy. The premiums are fully a fully tax deductible expense for the business and are very flexible.
The dual expenses of disability
As a successful dental professional, you know that if you became sick or injured and can't work, you may very well be forced to close down your business. The resulting strain on both your personal and business life could be devastating. After all, your income is divided between two budgets!
A properly designed Overhead Expense policy is the answer to this very real problem.
** Berkshire offers coverage which features: (form 4200)
| Monthly income benefits from $1,000 to $50,000 |
| Elimination period options of 30, 60 and 90 days |
| Benefit period options of 12, 18 and 24 months |
| Residual disability benefits - partial benefits calculated on loss of Gross Business revenue. |
| Optional Benefit Riders allow you to customize a policy that fits your specific needs. |
When calculating how much benefit you need, concentrate on your normal, necessary and customary monthly expenses. Include items such as rent payments, salaries of employees who have no ownership interest in your business and are not members of your profession, utilities, building maintenance, equipment lease payments, practice loan payments, billing and collection fees, legal and accounting fees, and others. Exclude variable expenses like dental supplies and lab fees.
Be sure to call Dave today for information and a detailed proposal. Remember, you can also request information online through our Information Request page.
** Policy form 4200 underwritten and issued by Berkshire Life Insurance Company of America, Pittsfield, MA, a wholly owned subsidiary of The Guardian Life Insurance Company of America, New York, NY.
This policy provides disability income insurance only. It does not provide basic hospital, basic medical, or major medical insurance as defined by the New York State Insurance Department. The expected benefit ratio for this policy is 50%. This ratio is the portion of future premiums that the company expects to return as benefits, when averaged over all people with this policy.
*This publication is offered for the purposes of education and information only and should not be considered tax or legal advice. For information on your specific situation, please consult your legal or tax advisor.