Business overhead expense (BOE) disability insurance pays a dentist’s business overhead expenses if he or she becomes disabled. A BOE policy pays a monthly benefit based on actual expenses, not anticipated profits. In relation to dentistry these policies are designed for practices that rely on a small number of staff to produce revenue.
The following business overhead expenses are typically covered by a BOE disability policy:
- Interest payments on some business debts
- Employees' salaries and payroll taxes
- Postage and stationery
- Equipment maintenance
- Rental, lease, or depreciation of office equipment
- Taxes on the business property location
- Insurance premiums for Workers' Compensation, employee medical, and liability
- Accounting fees
- Professional memberships and subscriptions
Policies do not typically cover the salary of a temporary dentist hired to do the duties of the disabled practitioner, unless a substitute salary expense or similar rider is purchased with the policy. Income taxes and the cost of inventory are some expenses that are not covered.
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