ProfessionalOverheadExpense Insurance
With the Guaranteed Insurability Benefit Rider

Not just for physicians running an office!

GOOD NEWS!

Maximum monthly benefit amounts have increased for both Disability Income and Professional Overhead Expense insurances.

Effective March 27, 2008

Disability Income - new maximum benefit = $15,000/mo ($20,000 all source maximum)

Professional Overhead Expense - new maximum benefit = $30,000/mo

During a time of total or residual disability Professional Overhead Expense Insurance (POE) can help by reimbursing your usual and necessary fixed monthly expenses incurred in your medical occupation. Without POE protection, these expenses can quickly consume your personal disability benefits and your personal savings.

Whether or not you are operating your own office, the following expenses are examples of what may be claimed under the OMA POE plan, subject to CRA guidelines.

A.  Business expenses - office related
Employee salaries and benefits, Rent or mortgage interest on business premises, Utilities, Property Taxes, Property Insurance Premiums, Office furniture & equipment, Telephone, Postage

B.  Business expenses - other
Malpractice insurance premiums, Association/Professional dues, Cell Phone, Computer, POE insurance premiums,   Business-related bank service charges, Beeper/answering service, Business-related legal and accounting services, Business-use portion of vehicle expenses

This summary provides the highlights but not all the details of the Professional Overhead Expense Insurance plan. The complete terms, conditions, exclusions and limitations governing the coverage are found in the group insurance policy issued by Sun Life Assurance Company of Canada.

Sun Life Assurance Company of Canada is a member of the Sun Life Financial group of companies.