[REPLAY] DI Connect with Us Webinar: Business Overhead Expense (BOE) Policy Provisions from Ameritas
Recorded 06/17/2024
Participate in this session and learn about the features and riders of this product as well as the clients you can attract. Most business owners do not think about what would happen to their businesses if they suddenly became too sick or hurt to work. As business revenue decreases, the expenses associated with running the business continue – BOE insurance is designed to help keep the doors of the business open in the event of the owner’s disability.
During the session there were a couple of questions that came up. Please see below for answers to each one.
- Can the built-in Finder Fee benefit provision be used to cover the cost of a signing bonus? The answer is no, this benefit is meant to just reimburse the cost to the owner of any fees associated with using a professional employment agency to locate a substitute to perform the duties of the owner, after a total disability begins. This amount would be a maximum of $5,000 and is a one-time benefit for the life of the policy.
- The provisions discussed in this latest Business Overhead policy provisions are approved in all states except for Florida. I have attached a flyer that outlines the provisions for our BOE product in the state of Florida.
- The number of built-in provisions differ from the other states.
- The Business Loan Repayment Rider is not included for Florida.