I want people to understand how important this kind of protection is. Business overhead expense, also known as BOE, allows a business owner to protect their expenses and their business when they become sick or hurt and they can no longer work. I was able to pay not only my bills, I was able to pay my team’s salary and making everyone feel like they were taken care of.
So I went in for a routine exam. I had the mammogram. They took me for more extensive testing, which I didn’t really process, to be quite honest with you, because I just assumed nothing would happen to me. And then I got a phone call, two days later, saying we’re so sorry to tell you, but you have breast cancer.
And that day everything changed. Your whole world turns upside down for a good year. So my biggest fear was, what am I going to do?
So I had my income coming in. I had my business protected, with BOE, and now I needed to figure out how to tell my clients the best way. So I ended up writing a letter. "Personally, I’ve never been sick before. In November 2016, that changed.” It was personal. This means that my clients who I care so much about and am so committed to, even in sickness, our team will continue to protect and take care of them.
The business overhead expense policy was the thing that made it so I did not have to worry about my business. I was out for about six months and then I started working my way back. And I was able to do that because I had the business overhead coverage.
It made a difference. And I know that there were other people that ended up getting protection because they watched what I went through, they read the letter, and they understood how important it was.
When you have an illness, there are some hidden gifts that you have to dig deep to find. And once you find them, then you realize how it changed your life. But it does make your life better because you live it differently. I wouldn’t have had that luxury if I didn’t have the protection in place. And that matters. That matters a lot.
Supporting Our Advisor, Supporting Our Clients
At Lenox Advisors, we believe that the strongest financial guidance comes from real experience. We’re proud to highlight the journey of one of our own Jane Schroeder, Senior Vice President, a dedicated advisor and a breast cancer survivor whose story underscores the importance of thoughtful planning.
During her treatment and recovery, Jane faced a challenge many business owners rarely consider:
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What happens to the business when the person who runs it suddenly can’t?
For Jane, the answer came through business overhead expense (BOE) insurance. BOE insurance is a type of disability income insurance designed to help keep a business operating if the owner becomes temporarily disabled. It may help cover essential expenses such as rent, utilities, payroll, and other ongoing costs allowing the business to remain stable while the owner focuses on healing.
Jane experienced firsthand how vital this protection can be. Her BOE coverage helped support her practice during her recovery.
We’re sharing her story not only to honor her resilience but also to help other business owners understand the value of preparing for the unexpected. Jane has recorded a short video reflecting on her experience and why she encourages business owners to consider BOE insurance as part of their continuity strategy.
At Lenox Advisors, we’re committed to guiding our clients with clarity, compassion, and real-world insight. Jane’s journey is a powerful reminder that planning isn’t just about numbers, it’s about protecting the people and businesses that matter most.
Policies may not be available in all states and include exclusions and limitations; coverage and eligibility depend on the terms of a specific policy.