Business Expense Insurance

As a business owner, the work you do every day helps pay ongoing business expenses. What happens to your business if you experience a disabling injury or illness that prevents you from working?

Business Expense Insurance

As a business owner, the work you do every day helps pay ongoing business expenses. What happens to your business if you experience a disabling injury or illness that prevents you from working?

What is business expense insurance?

Sometimes called Business Overhead Expense (BOE), a business expense (BE) policy from Illinois Mutual can help keep your business viable by reimbursing you monthly for eligible fixed business expenses should you experience an income-interrupting disability.

What does BE help me protect?

Employee Salaries

Includes employees’ salaries except:

  • salary of the insured

  • someone who replaces the insured

  • any family member working less than 3 months for the insured

Operational Expenses

Some examples:

  • equipment (lease or rental) and tools

  • office maintenance and repairs

  • billing and collection fees

  • postage

Facility Expenses

Some examples:

  • lease or rent payments

  • mortgage and loan interest

  • property and liability insurance

  • maintenance and utilities

Professional Expenses

Some examples:

  • dues and subscriptions

  • memberships (e.g. Chamber of Commerce)

  • professional license fees

Taxes

Some examples:

  • property

  • payroll

  • depreciation

Business Owner Rewards

It’s not always easy to find time to get everything done. That’s why we want to reward you for taking the time to protect your business and income with DI. Put your DI plan in place and take advantage of these Business Owner Rewards!

5% Premium Discount1

As a business owner, you are eligible to receive a 5% premium discount on an Illinois Mutual Personal Paycheck Power® policy and Business Expense Power® policy when both coverages are applied for together and issued. The 5% discount applies to both policies!

Business Owner Allowance2

If you are a business owner and apply for Personal Paycheck Power®, Illinois Mutual will increase your insurable net earned income by 25% so you can qualify for more benefits up to an additional $1,000 per month! Published policy limits still apply.

Qualify for a Class Upgrade?

The Business Owner Class Upgrade means lower premiums and allows you to apply for optional benefits and riders that are available to the upgraded occupation class. This may mean you have even more coverage options available to you. Make sure to ask your agent if you qualify!