Q. What does Guaranteed Acceptance mean?

This special Guaranteed Acceptance offer means that you cannot be turned down for the Business Overhead Expense Insurance Plan. You will not have to take a health exam or answer health questions to enroll.

Q. What happens if my enrollment form is received after May 3, 2010?

This special offer is for a limited time only. Unfortunately, that means that if your enrollment form is received after the May 3, 2010, deadline, we will not be able to process your request for automatic coverage. Instead, we will send you a full application with health questions. You may also be required to take a health exam.

Q.What expenses are covered under the Business Overhead Expense Plan?

Your Business Overhead Expense Plan covers the following practice expenses:

• rent, electricity, heat, telephone, and water;
• employees’ salaries and payments for group insurance and pension plans;
• monthly pro-rata portion of annual contributions and membership fees and dues;
• accountants’ services;
• mortgage interest and real estate tax payments on business premises owned and used by you for chiropractic;
• mortgage interest and property tax payments on business equipment used in your practice;
• rental of business equipment (except automobiles or motor vehicles); and
• other such expenses necessary to operate your office.

Q. What expenses are NOT covered under the Business Overhead Expense Plan?

Like all plans, there are some things the Business Overhead Expense Plan does not cover, such as your salary, fees, drawing account or any other remuneration for you; the cost or repair of office equipment; or office supplies.

For a complete list of items not covered by the plan, click here.

Q. Is the Business Overhead Expense Plan the same as a Long Term Disability Plan?

The Business Overhead Expense Plan is not the same as a long term disability plan. While long term disability plan benefits are generally used for personal expenses, the cash benefits received from the Business Overhead Expense Plan are specifically used for practice expenses. The benefits you receive can help your practice stay open even while you’re disabled. Covered expenses are listed above.

Q. What is the difference between the Business Overhead Expense Plan and Business Owners' Insurance?

Business Owners’ Insurance is a different type of plan than the Business Overhead Expense Plan. Business Owners' Insurance combines property insurance and general liability insurance. It covers your building and the contents, as well as your business assets if someone is injured at your building. It can also cover business interruption so you receive lost income if your practice is disrupted due to a fire or other covered loss, and the additional cost of operating out of a temporary location, including your operating expenses. It does not pay benefits due to a disabling illness or injury.

The Business Overhead Expense Plan helps cover practice expenses if you become disabled. (See the list of covered benefits above.)

Q. If I need to file a claim, who should I contact?

If you need to file a claim for benefits, simply call an NCMIC Insurance Services Client Representative at 1-800-932-9340. We’ll be glad to help you get started so you get the benefits you need as soon as possible.

Q. Is the Business Overhead Expense Plan through the National Business Association for Chiropractors (NBAC) and NCMIC Insurance Services available anywhere else?

No. The Business Overhead Expense Plan is only available to members of NBAC through NCMIC Insurance Services, the exclusive agent. You cannot get this group protection through an independent agent.

Q. What is the National Business Association for Chiropractors (NBAC)?

The National Business Association for Chiropractors (NBAC) is dedicated to helping Doctors of Chiropractic with the business aspects of their personal planning and professional careers.

Why NBAC was established
The chiropractic profession has several state and national organizations that are vital to address the legislative, political and public relations aspects of the chiropractic profession. There was a real need for a complement to those organizations … one that focused specifically on the business details a chiropractor faces.

What NBAC offers members
NBAC focuses on two distinct areas. First, NBAC provides information and resources that relate to the business needs D.C.s face with running their practice. This includes incorporation considerations, cash flow and its impact, the importance of business plans, sources of practice funding, staffing considerations, and office space utilization. Second, NBAC also focuses on a D.C.'s personal planning needs such as managing debt, the importance of credit scores and retirement planning.