ExpenseComp offers great features and benefits for self-employed clients. By reimbursing business expenses like salaries, rent, utilities and more, ExpenseComp can help make sure clients don’t have to close up shop early because of a loss of income from an illness or injury.
ExpenseComp is ideal for self-employed people directly responsible for business expenses.
ExpenseComp provides monthly reimbursement of business expenses in case of total disability. Premiums paid may be tax deductible as an expense.
|Issue ages||Occupation classes||Benefit periods||Elimination periods (days)||Premium|
|18 – 60 (age last)||4A, 3A, 2A, A||12 months, 18 months and 24 months||30, 90||Level to age 65, renewable after age 65 for life (4A/3A) or to age 72 (2A/A)|
With ExpenseComp, your clients can:
- Be certain their premiums and coverage won’t change if their health changes
- Have business expenses reimbursed based on the most preferred definition of total disability (based on own occupation definition for classes 4A and 3A)
- Get up to $40,000 of monthly benefits
- Gain the advantage of special carry-over and extended monthly benefit features when business expenses vary from month to month
- Receive extra payments from the Disposal of Interest in Business feature (includes legal and accounting expenses)
- Convert to an income replacement plan if protection is no longer needed for business expenses