BUSINESS INSURANCE OVERVIEW
AIA Start-Up Income Protection
Congratulations on starting a business, you’re the boss! In this building stage you only take time off work if it’s really serious... so what if it was? Setting up insurance for your new business is an essential financial safety net to protect you if you’re unable to work for more than 10 hours a week due to illness or injury. However being newly self-employed can make it difficult to prove the profitability of your business and take out income protection insurance. Designed for business owners who have been trading for three years or less, our Start-Up Income Protection gives you the confidence you need while your business gets off the ground. Your monthly payments will be an amount agreed at the time you apply, based off a proportion of your business’ revenue. Once you’ve been operating for more than three years you can move onto our more comprehensive Business Continuity insurance. This ensures your insurance evolves with your business. AIA Living Business Continuity Designed to meet the needs of business owners who have been trading for more than three years, Business Continuity provides a monthly benefit so you have time to make the decisions you need about the future of your business. As an established business you have a strong understanding of your operating finances, so you can choose your monthly payments to be based off either Agreed Value, or Indemnity. Agreed Value is an amount agreed at the time you apply, based off a proportion of your business’ revenue. Indemnity is based off a proportion of your business’ revenue at claim time.
No ACC Offsets on Business Continuity This business insurance option will pay you on top of the amount of ACC payments you receive or are entitled to receive.
You choose the timing For both our business insurance options above, you choose the time you wait before you’ll start receiving payments and how long you want to receive them for.
Benefit Period The length of time you could receive the benefit
Waiting Period The length of time between you becoming disabled and when you start receiving the benefit payments. Choose from 4, 8 or 13 weeks.
payments for; either 6, 12 or 24 months.
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Business Insurance
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