CASE STUDY

Angela, a GP and keen sportswoman fractured several vertebrae in a skiing accident. She was fortunate not to have any spinal cord damage but did require surgery and several months off work. Through her business expense insurance policy Angela was able to employ a locum doctor in her GP practice for the nine months she was off work. Angela was able to focus on her recovery and rehabilitation confident her thriving GP practice would continue in her absence.

 

 

 

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  • Income Protection Insurance
  • Life Insurance
  • Total Permanent Disability Insurance
  • Trauma Insurance
  

BUSINESS EXPENSES INSURANCE

Business Expense Insurance is designed for the self-employed so that if something happens and you are unable to work for an extended period due to injury or illness your business does not have to suffer financially.
Running a business has its own challenges and benefits. Your hard work and persistence is rewarded as you watch your business grow and succeed. Business expense insurance is a crucial investment in your business.

In the event injury or illness prevented you from working, business expense insurance lets you concentrate on your own recovery knowing your business can still function and will be supported financially while you are unable to work. You can insure up to 100% of allowable expenses if you are partially or totally disabled.

Business expense insurance pays a monthly benefit to cover your fixed business expenses. It is a flexible insurance and you can nominate the business expenses to be insured.
These may include:

  • Premises expenses – e.g. rent, property taxes, repairs and maintenance, cleaning, security costs
  • Equipment – e.g. depreciation, motor vehicle expenses such as leases, registration, insurance, repairs and maintenance
  • Service expenses – e.g. electricity, gas, internet, telephone, postage and couriers
  • Salaries and related staff costs – e.g. salaries, payroll tax and superannuation contributions of employees who do not generate business income or salaries of locum staff
  • Business expense insurance premiums are tax deductible and the cost may be more affordable than you realised.

Imagine if you were unable to work for an extended period. How long would your business cope financially?

Business Expense Insurance lets you recover from injury or illness knowing cash flow will be available to keep your business running in your absence. Whether it is hiring temporary staff or paying the regular bills business expense insurance allows you to focus on your recovery knowing your business can continue in your absence.

Vaughan and Monaghan deal with leading insurers and will work with you to determine the most appropriate level of business expense insurance cover for your individual requirements.

For further information contact:

Stephen O’Donoghue Authorised Representative No. 263633 on (02) 9485 3618

Email: stepheno@rjvm.com.au