Business Overhead Expense Insurance
Obtaining Benefits
In order to receive benefits under the AICPA Business Overhead Expense (BOE) Insurance Plan, you must be unable to perform the material and substantial duties of your own occupation and be under the regular care of a physician, but confinement to a house or hospital is not required. If you are working or have the capacity to work 40 hours per week, you may not receive benefits. In addition, there is a 30 day waiting period (sometimes called the elimination period) before your monthly benefits will begin. You must be responsible for 20% or more of the firm's expenses.
Once benefits are requested you will be asked to provide monthly evidence of the actual covered business overhead expenses for which you are personally responsible. Your monthly insurance benefits will be the lesser of the benefit amount you selected when you enrolled and your actual covered monthly business overhead expenses.
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