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Are You Practicing Unprotected?

In order to maintain financial health in your business despite risk, it is important that you do not inject unprotected. Your team depends on you, your vendors depend on you and your patients are depending on you to have a plan should sickness or disability takes you out on a more long term basis.


Disability overhead insurance has entered the chat. A disability overhead insurance policy is a type of insurance specifically designed for business owners and self-employed individuals. It provides financial assistance to cover the fixed expenses of your business in the event that you become disabled and are not able to work.


Think about this…if you are disabled and were unable to work…what would happen to your business? Disability overhead insurance provides a way for your business to continue operating, though for a temporary amount of time without interruption of cash flow for fixed expenses. Rent, utilities, and employee salaries are some of the expenses this policy covers.


The amount of the benefit and the length of time it is paid varies depending on the policy and the company that offers it. Some policies may provide benefits for a set period of time, while others may provide benefits until the owner is able to return to work. Additionally, some policies may have a waiting period before benefits begin, and may require the business owner to provide proof of disability.


It is important to consider disability overhead insurance as part of your overall risk management strategy. It can provide a safety net for your business and employees, and allow you to focus on recovery without worrying about your business. Additionally, disability overhead insurance can also be a valuable employee benefit, as it shows employees that you care about the well-being of the business and its employees.


In conclusion, a disability overhead insurance policy is a valuable especially in the aesthetics industry where 66% of Medspas are owned by a single owner (according to the AMSPA 2022 report). It can provide financial assistance to cover the fixed expenses of the business in the event of a disability, allowing the business to continue operating and providing peace of mind. It's important to research and compare different policies and their features to find the one that best suits your business needs.

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