Office Overhead Plan Details

Trust Office Overhead insurance, underwritten by Liberty Life Assurance Company of Boston, a Lincoln Financial Group Company, can help you manage your expenses while you focus on recovery. If you are totally disabled from a serious illness or injury, Office Overhead insurance can help you keep your practice going by helping pay the most normal recurrent office expenses up to a maximum amount that you select. For instance, a practitioner, age 40, can select a reimbursement level of $1,500 of monthly office expenses for just $157.00 a year. Trust Office Overhead insurance is a group program with affordable rates.

• Monthly benefits to reimburse up to $5,000 of office overhead expenses
• Monthly benefits payable for up to 24 months per period of disability
• May be maintained, regardless of age, as long as you work as a psychologist at least 20 hours per week
• “Your own Occupation” definition of disability
• Pays professional association dues
• Benefit Bank can increase your reimbursement if your actual overhead expenses exceed your monthly benefit

Benefits will end when you are no longer totally disabled, when the maximum benefit has been paid, or when you close or sell your office. Benefits are payable only for periods of disability for which you are under the care of a fully licensed physician and you cannot perform the duties of your occupation or profession.

f you become totally disabled from the same or related cause within 6 months, that disability is considered to be part of the same period of disability. In this case, the covered person will not have a new waiting period. Benefits are payable for the remaining months in the period of disability subject to the overall 24-month maximum for a disability.

If you return to work for at least 6 continuous months and become totally disabled again from the same or related cause, this is a new period of disability and the covered person must complete a new waiting period before benefits are payable.

• Expenses in excess of your portion when expenses are shared with others in a professional corporation or a partnership;
• State or federal income taxes or payroll taxes incurred by the policyholder;
• All or part of the principal portion of any loan of any kind;
• The cost of equipment or merchandise of any kind including books, periodicals, stamps, or photocopying;
• Interest payments which fall due before the end of the waiting period;
• Those which are covered under any other group or group-type insurance providing benefits for Office Overhead expenses;
• Salaries of your immediate family or for a person employed to perform your duties;
• Office Overhead expenses incurred more than 3 months after the covered person’s death.

• War or an act of war (declared or undeclared)
• Pregnancy that is not a complicated pregnancy
• Intentionally self-inflicted injuries, while sane or insane
• Drugs that are voluntarily taken, ingested or injected, unless as prescribed or administered by a physician
• Active participation in a riot or committing or attempting to commit an indictable offense

Benefits are not payable if a covered person becomes disabled due to:

• War or an act of war (declared or undeclared);
• Pregnancy that is not a complicated pregnancy;
• Intentionally self-inflicted injuries, while sane or insane;
• Drugs that are voluntarily taken, ingested or injected, unless as prescribed or administered by a physician; 
• Active participation in a riot or committing or attempting to commit an indictable offense.

• The date the master policy held by the Trustees is terminated ;
• The date you fail to make any agreed payment of premium within the 31-day grace period;
• The date you cease to be gainfully employed as a psychologist on a full-time (at least 20 hours per week on a regular basis, except for a continuing disability);
• The date you become a member of the armed services of any country.