Self Employed Information

IN THIS SECTION

GET A QUOTE

Protect what matters most by protecting your income.

Get a quote from us to ensure no future loss of wealth.
start here
 

Self Employed / Business Owner

Many of us today have already spent tomorrow’s income before we get it. 

ASK YOURSELF THIS – HOW LONG COULD YOU SURVIVE IF YOUR WAGE INCOME STOPPED TOMORROW?

Truth is many of us would be as little as 3 weeks from bankruptcy if our income stopped! Don’t let your financial future hit the wall!

Protect what matters most to you by insuring your future income.

  • You lose your house
  • You lose your car
  • You have to sell your investments
  • You go bankrupt
  • You can’t pay the children’s school fees
  • You can’t buy the groceries

ist2_2502536-frustration.jpg

ist2_5771249_happy_family.jpg
Struggle to feed the family
ist1_5737127-american-family-at-home.jpg
Mortgagee Sale
ist2_815226-the-family-truckster.jpg
Car Repossessed
ist2_6382096-beach-time-with-family.jpg
Holidays Cancelled

How do you insure your future income?  You do it by investing in your future by putting in place a quality income protection insurance policy (sometimes called salary continuance). Quality is the key term here.


There are many so called income protection policies that some of you may have via superannuation and some employer schemes however in many cases these are of inferior quality to what most of you need.

Issues like:
•    own vs any occupation definition
•    waiting periods before claim is payable (how long off work)
•    how long can you be on claim (should be to age 65)
•    definitions of disability
•    will it pay for partial reduction in income

Remember it isn’t just one years income you could miss out on! It could be your income for the rest of your normal working life.  If you haven’t done so already calculate what you could miss out on by using our future income calculator.

As a self employed person (or employee of own company) you are NOT covered by Workcover, therefore it is even more important for you to have an income protection policy.



Important Information

As a self employed person / business owner you can access two types of income protection insurance, income protection and business expenses.  You should strongly consider both types.

Income Protection – 75% of gross distributable income from the business to you or a relative from the net income of the business before tax including any superannuation contributions to you or the relative (eg spouse).

Business Expense – covers overhead and administration costs that would still be incurred if the income producer was ill or injured.  Maximum claim period one year.  Things like rent of premises, car leases, admin staff wages.  Allowable claim may be reduced by other income producers in the business.

[ Request a Quote Now ]


All information on this site is of a general nature, no personal adivce is provided. You must consider the information in relation to your own overall financial situation