Small Business Insurance in Edmonton
Like you, Lundgren & Young Brokers are small business owners and understand the importance of developing a plan for continued financial security. Your local State Farm agent can work with you to determine the right blend of insurance and financial products for you and your business.
Business overhead expense insurance:
If your business depends on your ability to generate income to help pay the bills, your absence due to a long- or short-term disability would impact the bottom line. That’s why we provide business overhead expense insurance. It’s designed to help businesses with owners/partners who actively generate income (such as physicians, lawyers, accountants and engineers) pay ongoing fixed expenses—like salaries, rent, property taxes and utilities—in the event that a partner or owner becomes disabled and is unable to work.
Key Features & Benefits:
- You may apply for coverage if you are between ages 18 and 60
- The plan is non-cancelable until you reach age 65. After age 65, it is conditionally renewable, as long as you remain employed full-time (minimum of 30 hours per week) and are responsible for the expenses of maintaining an office or business.
- Benefits can be paid over a period of time of either 15 or 24 months
- Benefits may start after as few as 15 days of disability
- Premiums may be tax-deductible as a business expense
- Various options are available, including the ability to increase your coverage at a later date
- If appropriate, return to work assistance may be provided to support your transition back to work