Central PA Medicine Winter 2021 - 23

Fund Buy-Sell Agreement

If your business has multiple owners, you can use
DI to fund a buy-out option if one partner becomes
disabled, allowing for an orderly transition of
ownership. Additionally, this allows the insurance
carrier to serve as an objective third party to determine
whether a disability has occurred. If you're in a
partnership that has an existing buy-sell agreement,
it's important that you review the agreement to
ensure that disabilities are addressed and funded.

Cover Business Overhead Expenses

As a business owner, you have expenses to pay and
obligations to meet. So if you were to become disabled,
the future of your company could be in jeopardy.
However, with a business overhead expense (BOE)
disability policy in place, the business can continue to
operate even while you are unable to work. A BOE
policy can help by paying a portion of overhead
expenses, such as leases and salaries, in the event of
a business owner's disability. Premiums for a BOE
policy are generally tax deductible and the benefits
paid, which are subject to taxation, are used to pay for
expenses that are commonly tax deductible.

Employee Benefits for All Shapes and Sizes

MassMutual offers a comprehensive suite of employee
and executive benefit solutions that includes life
insurance, disability income insurance and retirement
plan services. Learn how our workplace benefit
solutions can help your employees secure their
financial future and protect the ones they love.

Disability Coverage For
Business Overhead Expenses

It Makes $ense
Rent/Mortgage Expenses
$ ________
Rent, Property Tax, Mortgage Interest
Utilities
Electricity/Lights, Gas/Heat, Water

$ ________

Real Estate Tax

$ ________

Professional Fees
$ ________
Accountant, Legal, Collection Agency
Dues
Professional Societies/Licenses

$ ________

Business Subcriptions
Muzak, Newsletter & Magazine

$ ________

Interest on Business Loans

$ ________

Telephone
Telephone Bill, Answering Service

$ ________

Employee Expenses
$ ________
Employee Salaries, Payroll Taxes,
Employee Benefits, Employee Pension
Costs of Leasing
Equipment, Car Rental Fees

$ ________

Depreciation
(Use principal payment if greater)
Building,Equipment

$ ________

Maintenance Services

$ ________

Other
$ ________
Advertising, Computer Supplies/
Expenses, Office Supplies/Expenses,
Laundry, Postage, Billing Costs
Contact Mike Roberts at mroberts@fortislux.com

917-328-4904

TOTAL

$ ________

$ave Tomorrow Today!
Call me today to discuss your
coverage for your number.



Central PA Medicine Winter 2021

Table of Contents for the Digital Edition of Central PA Medicine Winter 2021

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https://www.nxtbook.com/hoffmann/CPAMed/CPMWinter2021
https://www.nxtbook.com/hoffmann/CPAMed/CPMFall2020
https://www.nxtbook.com/hoffmann/CPAMed/CPMSummer2020
https://www.nxtbook.com/hoffmann/CPAMed/CPMSpring2020
https://www.nxtbook.com/hoffmann/CPAMed/CPMWinter2020
https://www.nxtbook.com/hoffmann/CPAMed/CPMFall19
https://www.nxtbook.com/hoffmann/CPAMed/CPMSummer19
https://www.nxtbook.com/hoffmann/CPAMed/CPMSpring19
https://www.nxtbook.com/hoffmann/CPAMed/CPMWinter19
https://www.nxtbook.com/hoffmann/CPAMed/CPMFall18
https://www.nxtbook.com/hoffmann/CPAMed/Summer2018
https://www.nxtbook.com/hoffmann/CPAMed/CPMSpring18
https://www.nxtbook.com/hoffmann/CPAMed/CPMWinter18
https://www.nxtbook.com/hoffmann/CPAMed/Fall2017
https://www.nxtbook.com/hoffmann/CPAMed/CentralPAMedicine_Summer17
https://www.nxtbook.com/hoffmann/CPAMed/CentralPAMedicine_Spring17
https://www.nxtbook.com/hoffmann/CPAMed/CentralPAMedicine_Feb2017
https://www.nxtbookmedia.com