Overhead Expense Disability Income Policy


Definition of "Overhead expense disability income policy"

Sunny Williams real estate agent
Sunny Williams, Real Estate Agent EXP Realty

Type of disability income policy used to provide funds for the ongoing monthly business expenses (such as employee salaries, utility charges, rent, and equipment payment due) necessary to maintain continuing operations in the event an owner/key person becomes disabled. Generally, there is a 60-day elimination period after which monthly income payments commence until a stipulated aggregate limit has been reached.

 

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