If you are self-employed and running your own business, business expense insurance should be something you consider. It provides cover for eligible business expenses and will pay a monthly benefit in the event that an illness or injury prevents you from working.

Whilst income protection replaces your income if you are unable to work due to illness or injury, business expense insurance will cover the cost of your ongoing business expenses.

Eligible expenses that can be covered typically include: office rent and loan payments, equipment or vehicle leasing costs and utility bills such as electricity, heating and water.

This can help you keep on top of your business expenses and ensure that, in the worst case scenario, there is still a business to sell if you are unable to return to work.

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.

It is important to discuss your insurance needs with a Financial Adviser. We can tailor a plan based on your unique and individual circumstances. Please feel free to contact us at Next Level Wealth. We are more than happy to assist you.

Why Us?

  • We specialise in helping you get the right advice in regards to protecting your lifestyle or business through personal risk insurances.
  • We act for all of the major life offices, therefore we are able to find the right product to suit your individual needs.
  • Our clients are people just like you, ranging from professionals and large business, to small business owners, families and individuals.
  • We also provide a financial planning service which incorporates a range of areas including wealth creation and retirement planning. We’ll provide you with advice and strategies to get you on the right track to a comfortable retirement.