This policy pays the owner or partner in a small business a monthly benefit to cover the continuing expenses incurred if the owner becomes totally disabled. This monthly income can be paid for a term of either one or two years.

There is no upper limit to the level of benefit that can be selected, but this must not be more than 100% of allowable expenses.

Allowable Expenses include: rent of business premises, interest on business loans, salaries and related expenses for employees who are unable to earn while the life assured is totally disabled, insurance premiums, electricity, water and gas, cleaning and maintenance, accountants' fees, equipment leasing costs (of an expense nature), property rates and taxes, depreciation of business equipment, and other fixed expenses that are normal in the conduct of the business. Note that employees' salaries will only be covered if they cannot generate revenue due to the life assured being disabled.

Allowable expenses does not include; salary or other amounts payable from the business to the life assured, or any person engaged to replace the life assured, repayment of mortgage of loan principal, cost or expenses of a capital nature, cost of any trading goods or stock. * Please note that special conditions apply; please refer to the Policy Document.

The waiting period is 4 weeks.

You can elect to have this benefit paid for either 1 or 2 years.

The premium is automatically waived while on claim.

If after returning to work, you have a further period of disablement from the same or related cause within six months, the waiting period will be waived.

Contact us for a quote here.