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Group Professional Overhead Expense Insurance

Could your practice keep running without you? Personal disability plans may help your family with loss of your income, but they probably won't cover your monthly office expenses. Professional Overhead Expense Disability Insurance can help protect your practice and your assets by paying rent, utilities and other expenses so it can continue to operate in your absence.

Key features and options:

  • Available1 for ABA lawyer members residing in the U.S., Puerto Rico, and the U.S. Virgin Islands under age 65 in practices with five or fewer attorneys.
  • Coverage amounts through $10,000 a month.
  • Benefits payable up to 1 year.
  • Covered business expenses include:
    • Rent
    • Interest payments on outstanding eligible business debts
    • Utilities (heat, water, telephone, electricity, etc.)
    • Non-attorney employees' salaries and payroll taxes
    • Postage and stationery
    • Equipment maintenance
    • Rental, lease, or depreciation of office equipment
    • Monthly average of taxes on the premises
    • Insurance premiums for Workers' Compensation, Employee Medical Plans, General Liability, Professional Liability/Malpractice
    • Accounting fees
    • Professional memberships and/or subscription dues
  • Portable,2 so you can take your coverage with you through changes in your career.

For important plan information including assignment of dividends, features, costs, eligibility, renewability, exclusions and limitations, see the Plan brochure.

HOW MUCH DOES IT COST?

Estimate your rate.

NEED ASSISTANCE?

Talk with an Insurance Plan Specialist.

THANK YOU ABE INSUREDS

Your generosity made $6.8 million in grants possible for 2019.

1Not available for residents of VT. For more information, contact an ABE-Insurance Plan Specialist at 800-621-8981 or information@abenet.org.

2Subject to U.S. Government regulations on restricted countries.

 

About the Carrier

Underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 under Group Policy 5381-0 on Policy Form GMR.

New York Life is licensed/authorized to transact business in all of the 50 United States, the District of Columbia, Puerto Rico and Canada. However, not all group plans it underwrites are available in all jurisdictions. New York Life's state of domicile is New York and NAIC ID # 66915. Please check the plan details for current availability.

 

Disclaimer

Bonnie Czarny (ABE), is licensed in AR, Ins. Lic. #404091 and CA, Insurance License # 0H99426.

All ABE-sponsored insurance plans are designed to generate dividends; however dividends are not guaranteed. For more information, visit our Dividend Notice page.

Call 1-800-621-8981 to speak with an ABE Insurance Plan Specialist.

"As a solo practitioner, I think overhead expense insurance is essential. I have life and disability insurance too through ABE, but it’s almost as important to me to know that besides my family, my employees will also be taken care of if something were to happen to me."

– RINKY S. PARWANI, TAMPA, FL