NJCPA Group Business Overhead Expense Insurance

Group Business Overhead Expense Insurance

Underwritten By New York Life Insurance Company

Keep Your Business Moving.

Owning your own business means you have a lot more at stake than just your clients’ well-being. If you become disabled, expenses like rent, utilities, and especially employee payroll can add up quickly. If you are a NJCPA member, under age 55, reside in the U.S., and are working at least 30 hours each week, Group Business Office Overhead Expense (BOE) Insurance allows you to keep your business running until you are able to return to work.

Overview of Coverage for Group BOE Insurance:

  • Available for individual, incorporated, or partnership practices
  • Own Occupation coverage and benefits paid regardless of other coverage
  • Waiver of premium available
  • Premiums may be tax deductible1

Important Questions:

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What kinds of overhead expenses are covered?

Eligible expenses under this coverage include rent, leased equipment, employee salaries, utility bills, taxes, insurance premiums, and depreciation and other fixed overhead expenses that are normal and customary in the operation of your business. This coverage pays the covered monthly expense you actually incur, subject to the selected maximum, for the operation of your office while you are totally disabled.

Is this coverage renewable?

Yes, once coverage is effective, it automatically renews by paying the renewal premium applicable for your particular age. The coverage will only end if you do not pay the premium when due, reach age 70, cease to incur eligible business expenses, cease full-time work for reasons other than Total Disability, elect to end your coverage, or if the policy is terminated by the underwriter or policyholder.

How long do I have to wait before benefits begin?

The choice is yours. You may choose a waiting period of 15 or 30 days. The Waiting Period is the number of consecutive days you must be totally disabled by a covered illness or accident before benefit payments begin.

Have more questions?

For more information on this coverage – features, costs, eligibility, renewability, limitations and exclusions – click on the Learn More section on the right or contact an NJCPA insurance specialist.

Understanding the Application Process

Underwritten by New York Life Insurance Company, 51 Madison Ave., New York, NY 10010—Policy Form GMR-FACE-29466.

1Premiums are typically tax-deductible as a business expense. However, benefits are generally taxable. Consult a tax professional in your area for more information.

Michigan Residents: I understand that I may use a producer/agent to assist me with the completion of this application at no cost to me.

Learn More and Apply Today

If you wish to apply for this coverage, simply download the brochure and complete the included application. Send it into USI Affinity at 14 Cliffwood Avenue, Suite 310, Matawan, NJ 07747.


Schedule a Call

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We can be reached at (855) 874-0278 from 9:00 a.m. to 5:00 p.m. EST. Can’t talk right now? Let us know when works best for you and one of our knowledgeable insurance professionals will call or email you to talk through and answer any questions you may have.

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30-Day Free Look

Once your coverage is approved, you will be sent a Certificate of Insurance summarizing your benefits under the Policy. If you are not completely satisfied with the terms of the Certificate, you may return it—without claim—within 30 days. Your premium will be refunded and your coverage invalidated.