RURAL INSURANCE OVERVIEW
AIA Living Rural Continuity This is designed to meet the needs of farmers and their partners who also work on the farm, actively involved family members who have no direct ownership of a farm but have clear rights of succession or beneficial ownership in relation to it, farm managers, and sharemilkers. Setting up insurance for your farm is an essential financial safety net to protect you if you’re unable to continue farming for more than 10 hours a week due to illness or injury. As your farm can have variable cash flows, there’s minimal requirement for proof of financial income, which also means less paperwork. Your monthly benefit payments will be an amount agreed at the time you apply, based off a proportion of your farm or sharemilking turnover.
You decide the timing and ACC offsets For Rural Continuity, you choose the time you wait before you’ll start receiving payments, how long you want to receive them for, and if you want ACC offsets. Waiting Period This is the length of time between you becoming disabled and when you start receiving the benefit payments. Choose from 4, 8 or 13 weeks. Benefit Period The length of time you receive could the benefit payments for either: 6, 12, or 24 months. ACC Offsets At the time of application, you choose whether your payment is reduced by the amount of ACC payments you receive or are entitled to receive. Electing to offset ACC payments can reduce your premiums.
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Rural Insurance
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