This document discusses five common insurance mistakes that business owners make. It is authored by Ted Jenkin, founder and CEO of oXYGen Financial, an independent planning firm. The mistakes covered are: 1) Not having disability insurance, 2) Selecting the wrong health insurance, 3) Not having professional liability insurance, 4) Not having business overhead expense insurance or a continuity plan, and 5) Not properly insuring business vehicles. The document emphasizes the importance of planning for insurance costs in a business and educating oneself on different coverage types.

1. 11680 Great Oaks Way
Suite 175
Alpharetta, GA 30022
Five Insurance Mistakes
Business Owners Make
Ted Jenkin, CFP®
Founder and CEO
oXYGen Financial, Inc.
Breathe Easier®
TED JENKIN IS SECURITIES LICENSED THROUGH INVESTACORP, INC. A REGISTERED
BROKER/DEALER MEMBER FINRA, SIPC. ADVISORY SERVICES OFFERED THROUGH
INVESTACORP ADVISORY SERVICES, INC. A SEC REGISTERED INVESTMENT ADVISORY FIRM.
The information provided is not specific investment advice, a guarantee of performance, nor a recommendation. This is not an offer
to buy or sell securities.
The Illustrations are for illustrative purposes only and are not indicative of any investment. Past performance is no guarantee of
future results .Before investing in an investment, investors should carefully consider the risk , expense, objective, including the
possible loss of principal amount invested. This information is not intended to provide legal, tax, or investment advice. To avoid
penalties that may be imposed under U.S. Federal tax laws, nor is it intended as a complete discussion of tax and legal issues
surrounding retirement investing. Clients should contact their own tax advisors to learn more about rules that may affect individual
situations.

2. Who is oXYGen Financial?
 Independent planning firm
managing over $300,000,000
of client assets for small
business owners/individuals.
 Focusing on the X & Y
generations (hence oXYGen)
 Personally- 22 years in the
business with six advanced
designations.
 I write Your Smart Money
Moves ranked #93 on
Wisebread top 100

3. What Causes The Insurance Mistakes?
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Lack Of Knowledge
Not Buying Insurance
Buying The Wrong Coverage
Buying Inadequate Coverage
Misunderstanding Coverage
Wrong Deductibles
Poor Cash Flow Management
No Plan

4. Mistake #1- No Disability Insurance
 It’s important to understand that your net
income will be a big determinant in coverage.
A balance for business owners.
 Understand what level of coverage your
company will give you:
ST Disability vs. LT Disability?
Is It Integrated With social security?
Own vs. Any occupation?
Waiting Period/Benefit Period
Future Purchase Option
 Cost Of Living Adjustment
 Shop at least three different carriers and
READ the contract language.
 You pay or the company pays?

5. Mistake #2 – Selecting The
Wrong Health Insurance
 Open enrollment has officially
begun for Obamacare 10/1/2014 to
3/31/2014. (trgquote.com)
 What is the best way to manage
cost in your business (especially if you
have employees?)
Group Plan vs. Exchange and use
(HRA’s) OR
Go Health Savings Account/HDHP or
Traditional PPO/POS- also what about
dental and vision insurance?

6. Mistake #3 – No Professional
Liability Insurance
 Once you have decided to interface with
the public, you exposure for liability can be
significant. (especially if you are just a
schedule “C” filer.)
 What about infringement of items like:
Copyright, trademark, title
 Misappropriation, libel, plagiarism
 Slander, defamation of character, etc.
 And much more
 You should at a minimum get yourself
bloggers or publishers E & O insurance. All
professionals should protect themselves.
 filmemporium.com, axis.com, etc.

7. Mistake #4 No BOE And
No Continuity Plan
Business Overhead Expense Insurance
• Rent
• Interest payments on some business debts
• Utilities
• Employees' salaries and payroll taxes
• Postage and stationery
• Equipment maintenance
• Rental, lease, or depreciation of office
equipment
Buy-Sell Agreement- Do you have one and is
it funded with life insurance?
Key Man- Does your business have this
funded

8. Mistake #5 – Car Insurance
 Whether to put your car in the business name
or not is an important business decision.
 What is your liability? Personally? Business?
 Make sure to maximize deductibles which will
reduce premium.
 What coverages overlap on your policies and
memberships?
 What other parts of the coverages can be
minimized?
 56.5 cents on the mile/exp reimbursement
Or put on 2106 form.

9. Summary
 You need to plan for the cost of
insurance in your business.
 This is just as important as having
your business cash reserve.
 Make sure to educate yourself on
the different types of insurance.
Shop it OR use someone who is
truly independent shop the insurance.
ted@oxygenfinancial.net