Business Expenses Insurance
So you work for yourself. You’re a tradesmen, a doctor, a dentist or you own your own small business.
One day you wake up and discover to your horror that you need to take six months off work to have treatment for a medical condition.
The first thing that happens is your income stops cold. The second thing that happens is that the telephone bill arrives, your lease repayment comes out of your bank account, then BAS comes in, the rego and car insurance comes in.
The above situation happens far too often and puts people in a dangerous financial spiral that gets out of control and builds very quickly. Usually ending with the closure of the business and a lot of debts and a bad credit rating. A properly set up business expense policy kicks in and starts to pay these bills as they come in. In a perfect world, your income protection policy replaces your lost income and the business expenses insurance continues to pay the ongoing fixed costs of our business.
This relives a tremendous amount of pressure and allows your business to still be there without a huge amount of accrued debt ready for your return to work.
Again, there are some complexities around this policy so its best to get advice.