Meeting your business expenses

If you are a business owner, it is wise to consider insurance for meeting your business expenses should you be unable to work due to illness or injury.


What are the benefits?

By using this strategy, you could:

  • keep on top of your business expenses if you are unable to work due to illness or injury.
  • ensure you have a saleable asset if you are unable to return to work.

How does the strategy work?

In the previous strategy, we explained how Income Protection insurance can replace up to 75% of your pre-tax income if you are unable to work due to illness or injury.

But what if you are as business owner (eg you are self-employed, in a partnership or operate your business through a company)?

While Income Protection insurance should still be considered, it’s also important to protect the very thing that generates your income – your business.

Business Expenses Insurance

Taking out business expense insurance, you can cover 100% of your share of eligible business overheads, should an illness or injury prevent you from working.

This could help keep your business afloat and ensure that, in the worst case scenario, there is still a business to sell should the need arise.

Expenses that can be covered typically include, amongst other things, office rent and loan payments. As well as, equipment or vehicle leasing costs and utility bills such as electricity, heating and water.

Maximum Benefit

The maximum benefit payment period is usually limited to 12 months. After this period, you can reasonably determine (with guidance from your doctor), whether you will be able to return to work.

You can also choose a waiting period before the policy will start reimbursing your business expenses – typically 14 days or a month.


If you need more information or help to implement this strategy for your wealth protection,
contact us today.

Call us on 08 7111 0022. Book online here, or email

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Disclaimer: This article is information only. It is not intended to imply any recommendation about any financial product(s) or to constitute financial or tax advice. The information in the article is reliable at the time of distribution, but may not be complete or accurate in the future.


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