Group Business Overhead Expense Insurance

The AOA’s Group Business Overhead Expense delivers valuable benefits to help you cover practice expenses such as:

• Rent or the mortgage interest on your office
• Utilities like electricity, heat, water and the phone
• Employee salaries
• Payments for group insurance and pension plans
• Real estate taxes or property taxes
• Rental of business equipment (except for automobiles)
• Other normal and customary fixed expenses necessary to operate your practice

The AOA Group Business Overhead Expense Insurance pays valuable benefits if a covered injury or illness leaves you totally disabled and unable to perform the material and substantial duties of your occupation. You must also be under the regular care of a physician. Material and substantial duties are those that are normally required in your occupation and cannot be reasonably omitted or modified.

No. After four months of total disability, we will waive any further premiums that come due. Your business overhead expense benefits will continue in full force as long as you remain disabled from that injury or sickness.

Insurance will take effect on the first of the month on or following the date your application is approved by New York Life Insurance Company, provided the initial contribution is paid within 31 days after you are billed and any person to be insured is performing normal activities of a person in good health of like age (NC Residents: a person of like age) on the day of approval. If any dependent proposed for coverage is not performing his/her normal activities as required, coverage will not take effect until he/she is performing such activities provided such date is within three months after the date insurance would have been effective and the person is still eligible.

Yes! You are under no obligation today.

If you are not completely satisfied with the terms of your Certificate of Insurance, you may return it without claim within 30 days. Your coverage will be invalidated, and you will receive a full refund – no questions asked! 

Your coverage will end when you are no longer at full-time work, you reach age 75, you stop paying your premiums when due, when you receive covered total disability benefits for the maximum benefit period, when you begin active duty in the armed forces, or the date the group policy ends.

The AOA Group Business Overhead Expense Insurance does not cover and we will not pay a benefit for any loss or disability: 1) due to engagement in an act or accident of war or act of war, other than as a victim, an armed conflict which involves the armed forces of one or more countries; 2) due to an act of suicide while sane or intentionally self-inflicted injury while sane; 3) Crime/Illegal Occupation/Illegal Activity ‑ A disability that:  (a) occurs during; (b) is due to; or (c) is related to; the INSURED MEMBER’S participation in or incarceration resulting from any of the following in a role other than as a victim:  (a) the commission of a felony; (b) an illegal occupation or activity; (c) an insurrection; (d) terrorist activity; or (e) a riot; 4) due to pregnancy (except that Complications of Pregnancy are covered); 5) due to injury sustained during travel in, travel on, fall from or descent from any aircraft while such aircraft is in flight unless the INSURED MEMBER is traveling: (a) solely as a fare paying passenger on a licensed, commercial, regularly scheduled, non-military aircraft; or (b) in a civil aircraft having a current and valid “Standard Federal Aviation Agency Airworthiness Certificate” and piloted by a person with a current and valid pilot’s certificate with proper ratings for the type of flight and aircraft involved; 6) A disability that is due to or related to service in the military, naval or air force of any country, alliance or international organization or in a civilian unit which serves such force;

7) Impairment Restriction means a disability that is due to or related to a condition which has an Impairment Restriction. However, at any time and at his or her own expense, the INSURED MEMBER can give medical evidence of insurability for a condition which has an Impairment Restriction. After review of such evidence, New York Life will determine: (a) if and when such Impairment Restriction should be removed or liberalized or (b) if it should be continued. “Impairment Restriction” means an exclusion or limitation of insurance on an INSURED MEMBER. An Impairment Restriction will be: (a) established by New York Life; and (b) continued by New York Life if it is in effect on the day before; (1) the INSURED MEMBER becomes insured under the Policy; or (2) a change in insurance takes effect; whether or not satisfactory medical evidence of insurability is furnished or medical evidence of insurability of required. All Impairments Restrictions are stated in the certificate. Insurance with such Impairment Restrictions is subject to the APPLICANT’S acceptance. Payment of one CONTRIBUTION after the INSURED MEMBER is advised of the Impairment Restrictions will establish such acceptance.


Excluded expenses include:

Employees Salaries: The salaries of individuals hired after the insured’s total disability began.

Personal Expenses: The personal expenses of the insured, including but not limited to any of the following: (a) the insured’s salary, fees, income taxes, drawing account or any other remuneration; or (b) charitable contributions.

Professional Services: The salaries of or fees paid to other individuals in the same occupation as the insured for professional services.

Purchases: The cost of: (a) office equipment, goods, wares or merchandise of any nature; or (b) any and every item used by the insured in his or her normal occupation.

Repayment Of Loan Principal: The repayment of the principal on a loan and/or mortgage.

The listing of your coverage including exclusions or limitations can be found in the group policy/certificate. If differences exist between this summary and the policy/certificate, the policy/certificate will govern. This program may vary and may not be available to residents of all states. Additional exclusions may apply as a condition of approval of your application for coverage.

Employees Salaries: The salaries of individuals hired after the insured’s total disability began.

Personal Expenses: The personal expenses of the insured, including but not limited to any of the following: (a) the insured’s salary, fees, income taxes, drawing account or any other remuneration; or (b) charitable contributions.

Professional Services: The salaries of or fees paid to other individuals in the same occupation as the insured for professional services.

Purchases: The cost of: (a) office equipment, goods, wares or merchandise of any nature; or (b) any and every item used by the insured in his or her normal occupation.

Repayment Of Loan Principal: The repayment of the principal on a loan and/or mortgage.

The listing of your coverage including exclusions or limitations can be found in the group policy/certificate. If differences exist between this summary and the policy/certificate, the policy/certificate will govern. This program may vary and may not be available to residents of all states. Additional exclusions may apply as a condition of approval of your application for coverage.

Total Disability means an incapacity from an injury, sickness, or organ donation while insured and continuously disables he/she so that he/she is unable to perform all the substantial and material duties of his/her occupation. Also, he/she must be under a doctor’s regular care and not working at any gainful occupation for wage or profit.

A loss of license, in and of itself, does not constitute an incapacity that prevents the insured member from doing the material and substantial duties of his/her occupation and will not be deemed a total disability.

Successive Periods of Disability will be considered one period of disability if such disabilities are due to the same or related causes, and which are separated by less than three months of return to continuous full-time work during which you are not totally disabled or different or unrelated causes are not separated by return to full-time work. Same/related disability generally require 90 days of continuous full-time work to constitute a new disability.

Full-time work means the active performance for pay or profit of the regular duties of one’s normal occupation on a basis of 20 hours per week at a place where such duties are normally performed or other location to which travel is required.

Important Information from New York Life Insurance Company

New York Life Insurance Company reserves the right to request medical information to determine applicant’s medical eligibility for coverage. Based on the age of the person proposed for insurance and the amount of coverage requested, a physical examination, EKG, blood test or other information may be required. Not all applicants will have to supply additional information. However, if it is required, New York Life will arrange for an independent professional paramedic to contact you to perform these simple tests at your convenience. The exam and blood test are free-of-charge.

If we can provide the coverage you requested, we will inform you as to when such coverage will be effective. Under no circumstances will coverage be effective prior to this date. Payment of a premium contribution with your application does not mean that there is any insurance in force before the effective date as determined by New York Life.

If we can provide the coverage you requested, we will inform you as to when such coverage will be effective. Under no circumstances will coverage be effective prior to this date. Payment of a premium contribution with your application does not mean that there is any insurance in force before the effective date as determined by New York Life Insurance Company.

When program experience has been good New York Life Insurance Company will periodically return excess premiums in the form of dividends to the AOA as the policyholder. The AOA will retain these dividends in a Dividend on Deposit Account with New York Life. The AOA will in turn periodically make these dividends available through premium credits to existing insureds in the programs which generated the dividends. Sufficient reserves will be retained by the AOA in the Dividend on Deposit Account to cover administrative and marketing costs generated by the New York Life Insurance Programs sponsored by the AOA. Dividends are not guaranteed. These programs are administered together to take advantage of the savings resulting from this integrated approach.

Administrative expenses incurred by the AOA to provide the valuable membership benefits resulting from these sponsored insurance programs are reimbursed from available program dividends. New York Life may also, out of premium, pay a reasonable fee to the AOA for making the AOA assets available to it to promote these programs to the membership. These assets include the AOA Intellectual Property Rights and mailing lists of eligible members.

Yes, Group Business Office Overhead is endorsed by AOAExcel.

AGIA Insurance Services, Inc.
P.O. Box 26860
Phoenix, AZ 85068

A.G.I.A., Inc., is licensed/authorized to transact business in all 50 United States, and the District of Columbia. Their state of domicile is California. Joseph Guerrero California Agent Insurance license number is 0B54298. Joseph Guerrero Arkansas Agent Insurance license number is 766720.