Income Protection helps cover your everyday living costs if you are unable to work due to illness or injury. Income protection pays up to 75% of your income if you are ill or injured – providing financial relief at a time when you need to be concentrating on getting back on your feet.


What Are The Cover Options?

With Income Protection cover, some of the options available are:

  • Agreed value’ or ‘Indemnity – “Agreed value’ will pay the predetermined sum insured no matter what your income at time of claim. Meanwhile, ‘Indemnity’ cover will pay the lesser of your sum insured or income at time of claim.
  • Waiting periods – Choose how long you will wait, in the event of a claim, before you receive benefit payments – 2, 4, 8, 13, 26, 52 or 104 weeks.
  • Benefit periods – The benefit payment period can be for one, two or five years or to Age 65 or 70.

Business Expense Insurance

The Business Expenses benefit is specifically designed for self-employed individuals (employed full-time) who need to ensure that the fixed expenses of their business or practice will still be paid even if they cannot work due to Injury or Sickness.

You can get cover for all fixed costs of the business including:

  • Accounting and audit fees
  • Regular advertising costs, postage, printing and stationery
  • Electricity, gas, heating, water, telephone and cleaning costs
  • Rent, property rates and taxes
  • Membership fees, publications and subscriptions to professional bodies
  • Leasing costs of plant and equipment
  • Bank charges, interest on business loans
  • Business related insurance premiums but not including premiums for this policy
  • Salaries and other related costs for non-income generating employees of your business
  • Net costs associated with employing a locum

PRPIA Pty Ltd, (ABN 61 144 888 433) trading as McKenzie Ross, is an authorised representative of Charter Financial Planning Limited, Australian Financial Services Licensee 234665.

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Need guidance on the type of commercial insurance product or service that’s best for you? Talk to our broking teams today – Call us on (03) 9691 2222

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