What is Office Overhead Expense (OOE) Insurance?

You’ve worked hard to build a business you love and that helps others build their livelihoods. Have you put protection in place to help ensure that you could continue to pay expenses like salaries and rent, even if you’re forced to be out for an extended absence?

Unlike disability insurance which would supplement your personal income, OOE Insurance can provide a monthly benefit to your business to help pay regular and fixed office expenses that continue in your absence if you’re unable to work. Having protection in place could prevent you from having to decrease staff, resort to savings, or rely on disability payments. It’s vital protection for your business and your people.

The SBOT OOE Insurance plan.

As a State Bar of Texas member, you have access to this member-exclusive plan at group-negotiated rates. The Plan is available to all members under age 70 and will pay 100% of your actual covered expenses up to the $10,000/mo maximum benefit amount. You do not have to be permanently disabled or confined to your home to receive benefits. Plus, coverage is issued by The Prudential Insurance Company of America, a trusted name for over 150 years.

Plan features designed for attorneys.

FAQs.

Who is eligible for OOE coverage?

The Plan is exclusively available to members of the State Bar of Texas (SBOT) who are under age 70. Coverage is subject to Prudential’s approval of satisfactory evidence of insurability.

What expenses does OOE cover?

OOE covers a wide range of overhead office expenses, such as utilities, employee salaries, interest on existing business loans, and taxes associated with your business. See a comprehensive list of approved expenses.

When do benefits begin?

Benefits begin after you have been totally disabled for 16 continuous days. If you’re under age 70, your benefits can continue for as long as 24 months for each period of disability. If you’re under age 70 and are continuously disabled for more than 24 months but have not yet reached the aggregate amount (equal to your monthly benefit amount multiplied by 24 months), benefits can continue until the aggregate is reached or for 12 months, whichever occurs first. Your coverage ends on the January 1 that follows your 70th birthday. You are considered totally disabled if you can’t perform the material and substantial duties of your occupation due to sickness or injury. You must be under the care of a licensed physician, and you can’t be engaged in any other gainful occupation.

What if I leave Texas?

If you decide to move out of state, you can continue your coverage as an affiliate State Bar member until you reach age 70.

Can I increase my coverage?

You can apply to increase your coverage at any time by submitting a new application. However, if you’re younger than 40 years old and medically approved, you can increase your coverage by $1,000 annually (up to a $5,000 lifetime maximum) without requiring proof of good health. All coverage increases must be exercised prior to age 45, and a member’s total coverage cannot exceed the Plan maximum of $10,000.