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Office Overhead Insurance - Plan Detail
Plan Highlights:
What's Covered Things like office rent or mortgage interest payments, employees salaries, professional association dues, office telephone bills, office utilities, janitorial services, telephone answering service charges, business liability and casualty insurance premiums (including professional liability), and other regularly occurring business expenses are all considered reimbursable expenses. And if you think of anything not mentioned, just ask us and we'll let you know!
It's important to accurately estimate your expenses
so as not to pay for more protection than you need (we can only reimburse you
for actual expenses incurred that you can substantiate.) Use the worksheet
listing various office expenses will help you determine the correct amount of
coverage for your situation.
What happens if my expenses are less than my total benefit?
Not to worry. Liberty will create a Benefit Bank to allow any unused portion of
the benefit you purchased to
be used during a month, in the same period of disability, when actual expenses
exceed your benefit limit.
Why Trust Office Overhead Insurance?
Trust Office Overhead Insurance is
designed by psychologists for psychologists who understand the commitment it
takes to have a career in the profession and the duties associated with the
practice of psychology. All plans may be continued for as long as you work at
least 20 hours per week on a regular basis. You can keep the coverage regardless
of age and benefits are payable to reimburse your office expenses while you are
disabled and unable to perform the duties of "your occupation." The Trustees
are your ombudspersons in working with Liberty Mutual making Trust Office
Overhead coverage the insurance of choice among thousands of
psychologists. Plan Provisions, Exclusions and Limitations
Benefits begin at the end of 28 continuous
days of total disability and continue for up to 24 months per period of
disability. If unused benefits have accumulated in the Benefit Bank, they will
be paid in a month in which your expenses exceed your benefit. Benefits will end
when you are no longer totally disabled, when the maximum benefit has been paid,
or when you close or sell your office. Benefits are payable only for periods of
disability for which you are under the care of a fully licensed physician and
you cannot perform the duties of your occupation or
profession.
Successive Periods of Disability
If you become totally disabled from the
same or related cause within 6 months, that disability is considered to be part
of the same period of disability. In this case, the covered person will not have
a new waiting period. Benefits are payable for the remaining months in the
period of disability subject to the overall 24 month maximum for a
disability.
If you return to work for at least 6
continuous months and become totally disabled again from the same or related
cause, this is a new period of disability and the covered person must complete a
new waiting period before benefits are payable.
Benefits will not be paid for a disability caused by pre-existing conditions (conditions which existed prior to being insured by this insurance) for which treatment, including medications or prescriptions, was rendered or charges were incurred within six months before the effective date of insurance. However, pre-existing conditions are covered after six consecutive months (one year for mental illness or emotional disorder) has elapsed where no treatment has been rendered or charges incurred for the condition (this includes medication or prescriptions.) Exceptions Benefits are not payable if a covered person becomes disabled due to:
Following the completion of six months of continuous disability, the premium due will be waived until the first semi-annual payment date which follows recovery or receipt of maximum benefits. Termination of Coverage Your insurance will terminate on the earliest of the following dates:
APA members who are eligible to enroll in any of the programs of Office Overhead Insurance must submit evidence of insurability when making application. The insurance will not become effective until the first day of the calendar month following the date that Liberty Mutual determines that such evidence is satisfactory. 
General Information
Who may apply for Office Overhead Insurance? You are eligible to apply if you are a member of the American Psychological Association, are under age 65, and reside in the United States. Premium Semi-annual premiums are due each May 1 and November 1. In the event that you enter the plan on any date other than on the first day of a premium due date, the premium will be prorated to the next due date. When You Have A Claim Detailed information regarding claims procedures is issued with each new certificate. Promptly report all claims to Liberty Life's Home Office in Dover, NH. Administrator APA Group Insurance Plans Liberty Mutual Insurance Company P.O. Box 1525 Dover, NH 03821-1525 Administration The descriptions here are necessarily brief and are subject to provisions that can only be expressed exactly in the certificates of insurance. |
