(policy anniversary prior to)
You can buy this via a
What is this product about?
When you're self-employed, you don’t think twice about insuring business assets such as premises, stock, plant and equipment. But what about the most critical elements of your business – yourself and your financial commitments?
Business Expenses insurance means that the fixed expenses of your business will still be paid even if you cannot work due to injury or sickness.
AIA Australia has prepared a Target Market Determination which describes the class of consumers that comprise the target market for this product. The Target Market Determination can be sourced at aia.com.au/tmds.
Business expenses eligibility
Angela's was covered when she needed it most.
Although she had no spinal cord damage, she would need surgery and several months off work. How would she keep her thriving GP practice going while she was recovering?
Fortunately Angela had prepared herself for this possibility and could claim on two forms of insurance. Firstly, she had an Income Protection policy with a monthly benefit of $4,000. Secondly, she had Business Expenses Cover with an insured monthly benefit of $20,000, which would not only cover the cost of hiring a doctor to keep her practice going for up to one year, but would cover the cost of the rent and bills for the practice.