Business Overhead

Why you need business overhead expense protection

The self-employed workforce in Canada has been steadily growing with the emergence of the Gig Economy. In fact, by 2025 it’s predicted that 35% of the Canadian workforce will be contingent, consultant and contract workers.


Sometimes also called freelancers, these self-employed individuals may work on one of many short projects at a time for their source of income. This shift to contract and freelance work has posed challenges to insurers and workers alike, but Business Overhead Expense insurance (BOE) is the solution self-employed individuals need to protect their business in the event a disability or medical event prevents you from working for an extended period of time.


BOE keeps your business running during your disability period by paying operating expenses like salaries, leases, mortgages and utilities so your company and livelihood don’t suffer. It’s stressful enough having to worry about how you’re going to cover personal finances while disabled, and the last thing you should worry about is losing your business as well. With BOE, you can rest assured that when you get better, you can return to your business and pick up right where you left off rather than scramble to rebuild your years of success.


If you have employees, this coverage can help ensure your business remains open and operational so they can continue to complete their work and collect a paycheck. As a self-employed small-business owner, this coverage is crucial to maintain your livelihood and that of your employees who depend on your company to support their own families.


Business overhead expense coverage is the perfect addition to your customized personal insurance plan to protect not just yourself, but your business, in the event you become unable to work.


Helps cover business expenses if the owner becomes disabled

The Edge Benefits’ business overhead expense coverage has been crafted to ensure coverage is easier and faster to qualify for at lower premiums by dividing offerings into injury-only protection, or injury and illness protection. Both reimburse the business owner or their company for overhead expenses incurred while they’re unable to work due to an injury or illness lasting up to 24 months. With Business Overhead Expense insurance, you can keep your business afloat and financially stable while you focus on getting better.

Clients have the option to assign their benefit payments to their company or to themselves, which may offer your business tax advantages. Discuss with your accountant to determine which option is best for your situation.

We understand that a lot goes into running your business, and the vital role you play in the day-to-day operations of your company. That’s why our business overhead expense coverage, administered by Co-operators Life Insurance Company, can cover fixed monthly expenses such as lease payments, property rent, professional accounting fees, insurance payments, utilities and other miscellaneous operational costs.

You don’t want to worry about how long your business can remain operational if you’re unable to work, and with business overhead expense coverage you won’t have to.

Business Overhead Expense – Injury-only Coverage

A quarter of all Canadian workers have needed to take time off work due to a disability.

Our business overhead expense injury coverage provides up to $6,000 operating expense reimbursement per month, depending on your business expenses. This benefit can be paid to you as a business owner, or to your company, and is a cost-effective complement to EDGE Income Replacement benefits. Premiums may be tax deductible – speak to your financial advisor or tax professional for advice on protecting your business’s continuity with EDGE Business Overhead insurance. BOE coverage can be purchased between the ages of 18 and 69 and remains in effect until you’re 75.

Injury coverage is guaranteed as long as you satisfy two easy pre-qualifying questions:

  1. You have no prior injury that limits your abilities
  2. You work 20+ hours a week and at least 35 weeks per year

Business Overhead Expense – Injury & Illness Coverage

One in four Canadians believe that a disability is the result of not being careful, however, cancer, cardiovascular and musculoskeletal diseases are 6 times more likely to be the cause of disability than accidents.

For comprehensive business protection, small business owners should consider EDGE’s Business Overhead Expense Insurance for Injuries and Illnesses. Similar to EDGE Income Replacement benefits, our BOE plans offer the option of either a guaranteed basic level of injury coverage, or you can add illness protection by satisfying a few simplified medical qualifying questions. Because EDGE Injury and Illness coverages are offered as separate policies, the amount of illness protection can be the same or less than the injury protection, affording you flexibility to build a plan that suits your needs. Our BOE-Illness coverage is available for Canadian business owners aged 18 to 64, with coverage remaining effective until age 70.

Benefit Amounts

Benefits are paid monthly for up to 24 months, following 30 days from onset of the disability and are available in increments of $500 from $1,000-$5,000 for all occupational classes*, and up to $6,000 for AA and Executive classes.

*Contact us or use our online quoting tool to determine your occupational class.

Contact us today to get a quote for Business Overhead Expense coverage.

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How to determine your business overhead benefit amount

Business Overhead Expense coverage is a reimbursement of the actual amount of fixed expense paid. You may select a monthly benefit amount that is 25% higher than the actual amount of fixed expenses to account for the future growth of your business.

The Business Overhead Expense Benefit paid at claim time will be the “actual” expense amount submitted for the month. The Maximum Total Benefit is 24x the benefit amount purchased.

Other standard benefits include:

  • Premium waiver (after 30 days and when benefits are payable)
  • Recurrent disability (6 months)
  • Accident medical treatment ($10,000)

Contact The EDGE today to learn more about how business overhead expense insurance can protect your livelihood and finances.

The EDGE Difference

As Canada’s No. 1 provider of affordable, flexible financial security benefits, we have revolutionized the insurance industry by finding the best products for small businesses and individuals looking to create an individualized and comprehensive coverage package.

Experience the EDGE difference with:

  • The ability to protect yourself, your business and your employees from financial hardships as the result of your inability to work due to a disability.
  • A la carte flexibility to only choose and pay for the coverage you need.
  • Choose injury-only protection, or comprehensive business protection for disabilities associated with an injury or an illness.
  • BOE coverage can be purchased in conjunction with EDGE Income Replacement benefits, or as a standalone benefit.
  • A monthly benefit amount that is 25% higher than the actual amount of fixed business expenses.
  • Guaranteed issue coverage means no medical questions or doctor’s appointments necessary.
  • No long underwriting processes, so you can be issued a policy in a matter of days or weeks.
  • Affordable, transparent rates for consistently low premiums.
  • Convenient enrollment and policy documentation 100% online.
  • Multi-product discount when you combine EDGE Health & Dental with any other EDGE coverage.
  • Quality guarantee and concierge claims assistance make it easy and stress-free to purchase and receive your benefits.

Insurance coverage is never one-size-fits-all with The Edge Benefits.