Business Expense Insurance: Protecting What You've Built

As a business owner, you're not just protecting an income - you're safeguarding your dream, your employees' livelihoods, and years of hard work. But what happens when illness or injury forces you to step away from your business temporarily?

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The Reality for Small Business Owners

• Over 60% of Australians will be off work for more than one month during their working life

• More than 25% will be disabled for more than three months

• Most business expenses continue even when you can't work

• Personal Income Protection alone may not be enough

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"I Have Income Protection - Isn't That Enough?"

Consider Malcolm's story*: A successful glazier earning $10,000 monthly had Income Protection covering 75% of his income ($7,500). After a sporting injury took him out of work for six months, he discovered his Income Protection didn't cover:

• Equipment lease payments

• Staff wages

• Rent and utilities

• Professional memberships

• Business loan repayments

Result: After paying business expenses, Malcolm was left with just 51% of his pre-disability income for his family's needs.

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What Business Expense Insurance Protects

This specialised cover helps pay your fixed business expenses when you can't work due to illness or injury, including:

• Rent and property expenses

• Employee salaries

• Equipment leases

• Utility bills

• Professional memberships

• Accounting and audit fees

• Business loan interest

• Marketing costs

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Real Protection in Action

Jenny's Case Study*: A private dental practice owner suffered a broken arm requiring six months' rehabilitation. Her Business Expense Insurance meant:

• Rent on her surgery continued to be paid

• Her dental assistant and receptionist kept their jobs

• A locum was funded to maintain patient care

• Her business survived to welcome her back *Names changed for privacy

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Expert Tip: Business Expense vs Income Protection

As a Certified Financial Planner, I often see business owners relying solely on Income Protection. Here's why you need both:

• Income Protection replaces your personal income

• Business Expense Insurance keeps your business running

• Together, they protect both your family and your business

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Making It Affordable

Business Expense Insurance premiums are typically:

• Tax deductible as a business expense

• More affordable than you might think

• Customisable to your business needs

• Available with flexible waiting periods

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Smart Policy Features

Look for policies that offer:

• Locum cover to maintain business operations

• Partial payment options for partial disability

• Indexation to keep pace with rising costs

• Guaranteed renewability

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Take Action Today

Don't risk everything you've built. Contact me on 0411 519 209 for a personalised discussion about:

• Your specific business protection needs

• Cost-effective coverage options

• Integration with your personal insurances

• The best structure for your situation

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Let's ensure your business survives and thrives, even when you need time to recover.