Business Overhead Insurance

Ensure your business will continue to operate if you are unable to work due to accident or illness.

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Overview - Engineers Canada Business Overhead Insurance

If you're disabled and unable to work, the Engineers Canada-sponsored Business Overhead Expense Insurance can give you up to $8,000 in monthly benefits to cover your eligible business expenses.

Plan Details

What's covered?

Business Overhead Expense Insurance covers business expenses that continue when your business revenue slows or stops because you are disabled due to illness or accident. Coverage is available from $500 to $8,000 in monthly benefits, in increments of $100.

Benefit payments are limited to actual expenses incurred. Some eligible business expenses include:

  • rent or mortgage interest
  • hydro, heat and water
  • depreciation
  • employee salaries

Extra features at no additional cost:

  • Waiver of premium - If your total disabilityTotal disability means your complete and continuous inability, by reason of injury or sickness, to perform the regular and important duties of your occupation. continues for three consecutive months, your coverage may continue at no charge to you while you are receiving monthly benefit payments. You may also receive a refund of the premiums paid during the elimination period.
  • Recurrence of disability - If you return to work but suffer a subsequent period of total disabilityTotal disability means your complete and continuous inability, by reason of injury or sickness, to perform the regular and important duties of your occupation. resulting from the same illness or accident within three months, the second period of disability will be considered a continuation of the first. Benefits will resume and you will not have to complete another elimination period.
  • Death benefit - If you die while receiving benefits, your estate will receive an amount equal to the eligible expenses incurred in the three months following your death.

What's excluded?

1. Exclusions. Your insurance does not cover:
a. Any period of disability, including throughout the elimination period, during which you are not under continuing medical treatment, supervision and following the appropriate treatment considered satisfactory to Manulife;
b. Any period of disability while you are outside Canada for a period of more than six months;
c. Any loss or disability resulting from intentionally self-inflicted injuries, while sane or insane;
d. Any injuries sustained or disease contracted as a direct result of service in the armed forces of any country;
e. Disabilities due to bodily injury resulting directly or indirectly from declared or undeclared war or any act of war, insurrection, or participation in a riot or civil commotion;
f. Pregnancy (excluding complications thereof);
g. Any loss or disability resulting directly or indirectly and wholly or partially from committing or attempting to commit an assault or criminal offence;
h. Disability as a result of alcoholism, drug addiction, substance abuse, or other addiction, unless you are participating in a therapeutic program, recognized as such by Manulife, and are under continuous medical supervision by a specialist in this field; and/or
i. Disability as a result of a mental or nervous condition, unless you are under the care of a clinical psychologist or psychiatrist;
j. Any period of disability while you are on a maternity leave as required by law, or during a leave of absence;
k. Any period of disability during incarceration in a prison or mental institution by authority of a criminal court;
l. Any loss or disability resulting from the operation of any kind of aircraft for profit or reward.

If you must hold a government permit or licence to perform your regular duties, you will not be considered totally disabled solely because such permit or licence has been withdrawn or not renewed.

2. Limitation in Benefits. Any benefit amount payable will be reduced by the amount of any expense included therein which you are entitled to recover from another source.

Rates and pricing

Use the table below to find rates based on each $100 of monthly benefit amount � available from $500 to $8,000 per month.

How much can you apply for? Choose the business overhead insurance coverage equal to your average fixed monthly expenses in the last 6 months, less any business expense or office overhead coverage already in force. Benefit payments begin following the elimination period you choose when you apply. Benefit payments are limited to actual expenses incurred.

Monthly premium*
Per $100 of monthly benefit
Age 14-day elimination period 30-day elimination period
Under 30 $0.90 $0.70
30 to 34 $1.02 $0.81
35 to 39 $1.33 $1.12
40 to 44 $1.44 $1.26
45 to 49 $1.64 $1.49
50 to 54 $1.89 $1.67
55 to 59 $2.19 $1.98
60 to 64 $2.38 $2.17
65 to 69 $2.64 $2.40

Who's eligible?

You must be a Canadian resident and under 65 years of age to apply. You must also fall under one of the following:

  • Members of the 12 provincial and territorial engineering licensing associations, including members in training. Also, student engineers who are members of a student section (in those associations where a student section exists) and who are within 24 months of expected graduation from a program accredited by the Canadian Engineering Accreditation Board.
  • Members of the 8 participating provincial associations of technicians and technologists.
  • Members of l'Ordre des Geologues du Quebec.
  • Members of Geoscientists Nova Scotia.
  • Members of the Association of Professional Geoscientists of Ontario.
  • Members of the Manitoba Association of Architects.
  • Members of the Architects' Association of New Brunswick.
  • Members of the Nova Scotia Association of Architects.
  • Members of the Architects Association of Prince Edward Island.
  • A full-time employee of Engineers Canada, or of one of Engineers Canada provincial/territorial constituent associations, or of one of the participating organizations, or of The Youth Science Foundation.
  • Limited licensees.

No family coverage is offered under the Business Overhead Expense Insurance.

What's involved?

You can apply for Engineers Canada insurance coverages a number of ways:
  1. Download an application for completion and submit back to Garrett Agencies
  2. Contact Us and an advisor can assist you with completion of the appropriate applications

In all cases, you will be contacted, and a professional advisor will review your application to ensure proper completion.

After the application:

Once the application has been completed, a medical professional from a third party paramedical service may call you to arrange a home visit at your convenience. The insurance company may also contact your doctor to request medical records.

Throughout this process, Garrett Agencies will be communicating with you to keep you up to date on progress and may request additional information from you.

Once the insurance company has received and reviewed all the information required, they will issue an offer for insurance which you may choose to either accept or decline.

To apply for Business Overhead Expense Insurance, please choose one of the following options:

We're here to help you

Call 1-800-661-3300 to speak with an advisor or apply online
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