The Canadian Bar Insurance Association: Business Expense Disability: Introduction

Introduction

If you are self-employed or responsible for meeting your law firm’s expenses, what would happen if an unforeseen illness or injury left you unable to work? Rent, employees’ salaries and other business expenses would still have to be paid during your absence. Would you still be able to fulfill these financial obligations at a time when your attention should be focused on your health and returning to work?

The Canadian Bar Insurance Association (CBIA) Business Expense Disability plan is designed to take the worry out of meeting your law firm’s financial obligations in the event a disability prevents you from working. Examples of eligible expenses include:

• rent

• utilities

• employee salaries (other than lawyers)

• business taxes

• accounting fees

• equipment depreciation

• lease or installment purchase agreements

• telephone, postage and delivery services

• capital cost allowances being claimed for income tax purposes prior to disability; and

• any other expenses which are normal and customary in the conduct and operation of your office.

Plan underwritten by
The Manufacturers Life Insurance Company
(Manulife Financial)