Why is Business Expenses cover important for me?

If you own your own business, the consequences of being unable to work due to severe injury or illness can be financially devastating. Also, in a world where nothing stands still, you need to find a way to keep your business solvent, particularly when you can’t physically work. Otherwise it could be goodbye to your business.

In combination with Income Protection cover you can take out Business Expenses cover. This provides a monthly income stream to cover your fixed and recurring business expenses, including rent or mortgage interest payments, the salaries and superannuation of non-income producing staff, telephone, office supplies, and other costs.

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What Life insurance cover do I need?

Life, Total and Permanent Disability (TPD) and Trauma insurance covers provide further financial security in case of unexpected long term and permanent disability due to a severe injury or illness, or in the worst case scenario, your premature death.

Cover to consider

Cover type

Benefits

Helps cover

How to get covered

Life insurance

  • Provides up to $15 million of cover.
  • Sum insured paid in advance upon terminal illness.
  • Advance $10,000 funeral benefit.
  • One standard “exclusion” only (ie. suicide in the first 13 months of the policy commencing). Other exclusions may apply to some applicants depending on health and pastimes.
  • Guaranteed renewability to age 99 (if premiums paid on time), even if health changes.
  • Worldwide cover.
  • Access to a dedicated claims consultant to assist your family through the claim process.

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  • Allows payment of personal or family debt, providing your loved ones with financial freedom.
  • Allows your loved ones to not worry about finding the funds to cover your funeral expenses.
  • Provides funds for any outstanding medical costs.
  • Provides funds for estate, administrative and legal fees.
  • Provides funds for financial assistance for your family following your death to allow them to grieve and not have to worry about the finances.

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Total and Permanent Disability (TPD) insurance

  • Provides a lump sum payment of up to $3million for sickness or injuries which cause a total and permanent disability, preventing you from being able to work again.
  • One standard policy “exclusion” only (ie. intentional self injury in the first 13 months of the policy commencing). Other exclusions may apply to some applicants depending on health and pastimes.
  • Domestic Duties disablement definition is applicable to non income earners.
  • Worldwide cover.
  • Access to a dedicated claims consultant to assist you or your family through the claim process.

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  • Allows you to clear all debts, and even provide you with financial freedom.
  • Provides funds to cover ongoing medical and rehabilitation costs associated with your illness or injury.
  • Provides funds for any necessary home or vehicle modifications resulting from your injury or illness.
  • Provides funds to pay ongoing household expenses.

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Trauma insurance

  • Provides a lump sum payment up to $2Million when one of the listed medical conditions or trauma events occur.
  • Includes coverage of the top 4 medical conditions which account for over 95% of trauma claims paid as well as 33 additional medical conditions.
  • Conditions covered include Heart Attack, Stroke and Cancer.
  • Pays a lump sum on the confirmed diagnosis of one of the listed medical conditions covered by the policy, whether that illness or trauma event is able to be successfully treated or not.
  • Two standard “exclusions” only: (i) Exclusion of self injury in the first 13 months of the policy commencing, and (ii). An exclusion period applies for the first 90 days for 10 of the medical conditions.
  • Worldwide cover.
  • Access to a dedicated claims consultant to assist you through the claim process.

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  • Allows you to cover or partially cover debts such as your mortgage.
  • Provides funds to cover out of pocket costs for ongoing medical and rehabilitation costs associated with your illness or injury.
  • Provides funds for any necessary home or vehicle modifications resulting from your injury or illness.
  • Provides funds to pay ongoing household expenses including rates, rents, insurances, telephone, gas and electricity bills.

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Income Protection insurance

  • Provides you with a regular monthly payment of up to 75% of your income up to a maximum of $25,000 per month, if you are sick or injured and can’t perform your work duties.
  • Payments commence at the end of the waiting period and continue for a set period of time (such as 2 years or until the age of 65), depending on the benefit period chosen when the policy commenced.
  • Also covers partial disablement.
  • Premiums are generally tax deductible.
  • Worldwide cover.
  • Access to a dedicated claims consultant to assist you through the claim process.

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  • Provides a regular monthly income in the event you are unable to work
  • Allows you to cover or partially cover your financing commitments such as your mortgage or rental payments.
  • Provides income enabling you to pay ongoing household expenses.
  • Provides funds to cover out of pocket costs for ongoing medical and rehabilitation costs associated with your illness or injury.

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Business Expenses insurance

  • Provides a monthly income stream of up to 100% of your fixed monthly business expenses up to a maximum of $25,000 per month,   if you are sick or injured and can’t perform your duties at work.
  • Payments commence at the end of the waiting period and are paid for up to 12 months or the equivalent of 12 times the monthly benefit (if the full insured monthly benefit hasn’t been payable for some reason).
  • Premiums are generally tax deductible.
  • Access to a dedicated claims consultant to assist you through the claim process.

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  • Covers payment of your fixed business expenses whilst you are off work. These include rent, the salaries of non income producing staff, and all other overheads associated with your business, including payment of the interest component of any loans associated with the business.
  • Provides security for your business to ensure you have a business to return to when you are back on your feet and recovered.

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We can assist you to tailor a small business owner Life insurance package to suit your needs – here are some options to compare.

It’s peace of mind protection so you can get back to doing what you do best