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BUSINESS EXPENSES
Business expenses insurance ensures the continuity of your business, providing you with a business to return to following a period of illness, or a business to sell as a going concern. Running a successful business takes time, money and lots of hard work. Insuring your business should be at the top of your mind when you're thinking about what might happen if you were totally disabled and couldn't work.

Business Expenses Insurance pays you an amount to meet your business expenses while you are unable to work due to sickness or injury. These policies usually cover you worldwide, 24 hours a day. Insurers will also usually make a payment on death.

You choose your amount of cover which they call the maximum monthly amount. This can be up to your share of allowable business expenses. You can take out this policy in relation to your business to meet certain business expenses if you become severely or partially disabled, in which case you are the policy owner as well as the insured person.

Your family trust or company can also take out this policy if it owns the you are the insured person and the family trust or company is the policy owner. In the event of a claim, they pay the policy owner.

Companies usually guarantee not to cancel your policy because of future claims experience, a change in your health or occupation, or in the event that you move, travel or become unemployed.

After the policy has been issued, insurers cannot usually modify it as a result of a change in occupation, participation in a dangerous sport or pastime, or a change in your income. Your policy can only be changed in these circumstances if you request it.

You can continue this Business Expenses policy up to the anniversary of your policy when you are 64, or permanent retirement if earlier. This policy cannot be taken out through a Superannuation fund or if business income is unlikely to be affected by your absence.

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