The most common component of a risk insurance solution is life insurance. How it works is straight forward – in the event of your death, your beneficiaries will receive a lump sum payment.
Income protection provides income replacement options to protect your lifestyle, assets and independence if you suffer illness or injury. It will provide a monthly payment of up to 75% of your income (as well as a superannuation contribution) while you are unable to work due to accident or sickness.
Business Expense Insurance
Business expense insurance covers any ongoing expenses of your business, such as rent, salaries, utilities and loan repayments. It can also cover the cost of bringing in a locum to run the business while the primary income generator is unable to work due to sickness or injury.