Business Overhead Expense Insurance
Why Your Practice Needs a Backup Plan
Managing a medical practice comes with big responsibilities. If one of your physicians is not in the office to see patients for an extended period of time – due to a serious illness or injury – the health of the practice could be in jeopardy.
Most physicians are aware of the value of disability insurance – to help cover personal expenses if a serious illness or injury prevents you from working. But what about your practice?
Business Overhead Expense insurance is designed to help keep your practice up and running if one of your physicians cannot work due to a serious disability. It can even help cover the cost of employee salaries and a locum tenens physician - so patients won't have to leave your practice to find care elsewhere.
TMA members have exclusive access to the TMA Member Business Overhead Expense Plan issued by The Prudential Insurance Company of America.
While most plans typically provide only 12 months of coverage. The TMA member plan provides up to to $50,000 per month for a 24-month benefit period. That’s up to $1,200,000 of total benefits. And your first benefit payment would be made retroactively after the TMA member has been disabled for 30 continuous days.
The plan helps cover typical monthly expenses like rent, salaries, utilities, taxes and the cost of a locum tenens physician to care for patients. In addition, during the entire time the physician is disabled the premiums will be waived.
Contact us today for a free consultation.
Our advisors are available weekdays from 7:30 a.m. to 5:30 p.m. CST to answer your questions and help you get the coverage your practice needs. Call us at 1-800-880-8181.Click to Call