Page 38 - iA Excellence -Field Underwriting Guide - Updated on July 2019

Overhead expense

Coverage for overhead expense offers applicants who are business owners help in paying the expenses
necessary to run the business, while benefiting from a tax deduction on the premiums for this coverage. If an
applicant becomes totally disabled due to an illness or accident, overhead expense insurance will help cover the
business’s regular office expenses, such as:

• Heating, telephone and electricity
• Rent
• Employee salaries, for businesses with three or fewer employees. Where there are more than
three employees, employee salaries cannot be considered in establishing the amount of overhead
expenses to apply for
• Accounting services
• Subject to certain conditions, car or truck expenses, when the vehicle is essential to the performance
of duties

The maximum amount allowed is $6,000, and the maximum benefit period is two years.
Please complete the overhead expense form available on our website and Assure&go, and join it to the
application.

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