YXE Benefits offers the simple, stable, smart group benefits choice for Saskatoon businesses; combining accessibility, flexibility and the stability of pooled benefits. Saskatoon companies choose the The Chambers of Commerce Group Insurance Plan because it offers unsurpassed value & outstanding customer service. The Chambers plan group benefits are for Saskatoon Chamber members. Our latest post subject is will an accident leave your business disabled?
What if you had an accident and couldn’t work for a while?
Your disability insurance would provide income in place of your salary until you were on your feet again, but what about those business bills! Unfortunately, none of us can predict a sudden illness or injury. It’s wise to consider how your absence would impact your business and make sure you’re prepared for unforeseen circumstances.
Designed for self-employed business owners who generate all of their firm’s sales and revenues and who are involved in the day-to-day operations of the business, BOE covers your business’ fixed expenses if you’re away for an extended period of time due to disability. BOE must be purchased in conjunction with Long Term Disability benefits.
Available in blocks of $100, coverage is available from $500 to $2,000 per month. The benefit will pay eligible business expenses, after a 30 day waiting period, for up to 18 months while you are disabled. Eligible business expenses are the actual, normal and customary expenses incurred by you, the owner, in the operation of your business. For partnerships, your assumed portion of such expenses is covered.
Eligible business expenses include:
- Rent, electricity, telephone
- Business taxes and licenses
- Property taxes for the place of business
- Leasing and amortization costs of equipment, including automobiles
- Interest including the interest portion of mortgage payments, unpaid bills or lines of credit
- Amortization or periodic repayment of capital including mortgages
- Salaries of personnel who do not generate income and whose services are essential during your disability
- Professional services of an outside accountant
- Professional dues and professional liability insurance
- Office cleaning
- Postage and office supplies
You can purchase Business Overhead Expense coverage in conjunction with Chambers Plan Long Term Disability benefits. Together, it’s the coverage business owners need, at an affordable price.
With quick claim payments, rate stability, and guaranteed renewable coverage, the Chambers Plan makes it easy for you to invest in the health and well-being of your employees. 3,000 small businesses just like yours join the Plan every year. With the help of our local advisors at YXE Benefits, let us design a plan to fit your needs and your budget from an array of benefits and options:
Contact us today for a quote…. find out if you can benefit!