Overhead Expenses Insurance

What is Overhead Expenses Insurance (OEI)?

Many businesses rely on one or two principals or partners to generate their income, which is used to cover rent, lease or loan obligations, employee salaries and other overheads. But what would happen if an accident or illness meant that a key person could not work? The business’s overheads still have to be paid yet the business may have no income.

Overhead Expenses Insurance is an insurance product designed to pay fixed overheads if a key person is unable to work because of an accident or illness. Each month this product will pay a pre-agreed benefit sufficient to cover those expenses the business continues to incur even though a key employee is unable to work.

Design a programme to meet the needs of your target market

We arrange bespoke coverage for:

with a product to meet the specific requirements of each business. Our OEI programme can be tailored to cover a wide range of life-changing events, with flexible benefit amounts and differing deferment and benefit periods.

Example coverage includes:

• Accident
• Illness
• Loss of Driving Licence (medical reasons)

and policies can also include the following “voluntary” circumstances:

• Maternity cover

Benefits of Overhead Expenses Insurance

By implementing our Overhead Expenses Insurance businesses will benefit significantly:

• Principals, partners or business owners have enough to worry about when they are unable to work – their business’s expenses doesn’t have to be one of those worries
• The viability of the business can be maintained
• Large debts aren’t accrued during a period of forced absence
• Bespoke coverage for a wide variety of unexpected life-style changes
• Unique “Loss of driving licence” cover
• Competitively priced cover
• Deferment and benefit periods can be tailored to meet different client requirements
• Reduced credit risk