As a result of all the global economic changes from the COVID pandemic, many have resorted to starting up their own business to generate income. With this global shift, people have figured out new ways to be their own boss, gaining more control of their finances and have found opportunities wherever possible. For some, this has given greater opportunities in entrepreneurial pathways to success. However, operating your very own business has its own pressures. What happens if you’re unable to work? How do all the business expenses get paid?
Business Expenses insurance – what is it?
If you’re self-employed or have a small business, you’ll be reimbursed for particular business expenses incurred while you’re totally disabled – (up to your insured monthly benefit amount for up to 12 months).
Keep in mind that, if there’s more than one owner, you will receive your share of the covered business expenses.
What are the key features of having Business Expenses cover?
- You will receive a monthly benefit for up to a year for certain business expenses that are incurred should you become totally disabled
- You can also choose a waiting period of either 14 or 30 days
- If you’re on claim the premiums are automatically waived while you’re receiving benefits
- Recurring disability benefit continues a previous claim with no new waiting periods if the same disability recurs
Do you need Business Expenses insurance?
You may want to consider Business Expenses insurance if you:
- have a business or are self-employed.
To get further information with regards to Business Expenses cover, please do not hesitate to reach out for a chat using the form below.