CommInsure Protection: Income Care Business Overheads Cover

You can take out CommInsure Income Care Business Overheads Cover on yourself or a business partner, if you are self-employed or own a small business with up to 5 employees. It is designed for service or trade businesses where the work of a few people generates most of the income.

Income Care Business Overheads Cover pays up to 100% of the fixed costs of your business for up to a year, while you are recovering from an injury or illness.

You can take out Business Overheads Insurance as a standalone policy or in combination with Income Protection. Combined policies offer a 10% discount on your Business Overheads premiums. Your premiums for both types of cover will generally be a tax deductible expense.

Income Care Business Overheads Cover has a number of built-in features including automatic CPI increases and a cash-back option which lets you claim a refund of 20% of your premiums at the end of your policy, if you haven't made a claim and have held your policy for at least 3 years. If you make a claim you can also benefit from a 'waiver of premiums' feature which means that you won't have to pay any premiums for your ongoing cover while you are receiving payments.

As an additional incentive to hold your Business Overheads Insurance for at least 3 years, CommInsure offers a 'reward cover' benefit which provides you with $100,000 of free Accidental Death Cover at the end of this period. This amount can be doubled if you also own a Total Care Plan policy.

For full details of the CommInsure Protection range of life insurance products you can download the Product Disclosure Statement here.