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Income Protection Insurance for Business Owners

When you are an owner of a small business your most important asset is you. Make sure you protect yourself properly with Income Protection insurance. 

Building is a high risk industry, if you can’t work, these policies will...

Being ill or injured is difficult enough, without the financial pressure of not being able to earn an income. You can help protect your income and maintain your lifestyle with income protection.

What is Income Protection?

Income protection (or salary continuance) insurance pays you a monthly amount when you are unable to work due to illness or injury.

  • income protection – coverage for you and your family should sickness or injury temporarily stop you from working. A monthly income is paid to you to assist with your expenses in the short term
  • total and permanent disability – a lump sum payment made to you, or your legal representative, to help your family should permanent disability stop you from working again
  • death cover – a lump sum payment to your dependants in the event of your death
  • trauma – a lump sum benefit on diagnosis of a specified event. It’s designed to help people financially following a trauma or crisis such as a heart attack, stroke, cancer or other life threatening condition.

Who needs Income Protection?

You should consider income protection if you:

  • If you have a mortgage, or other debts.
  • Have a family or dependants you provide for.
  • Have a business or business partners.
  • Don’t have sufficient savings to cover expenses, such as medical bills.

Income protection benefits:
  • 24-hour cover, worldwide – so you’ll be covered anywhere, anytime
  • ​Premiums that are generally tax deductible
  • Many policies will pay up to 75% of your salary – some include superannuation guarantee contributions (CGS)
  • Flexible optional extras allow you to choose the features and benefits that you consider to be of value

How much insurance is enough?

The amount of insurance you need depends on your savings and assets, expenditure, number of dependants and the timeframe for when a replacement income would be required. An accurate assessment of your income is essential as this is what you and your family will need to live on if an accident does occur.

Speak to your financial adviser about how much insurance is suitable for you. They can provide insights into tailoring the right coverage for life events that you may face, and how it can be paid for in the most tax-effective way. If you don’t have an adviser, start a conversation with us and we can put you in touch with one.

Financial advice services are provided by Aon Hewitt Financial Advice Limited ABN 13 091 225 642 AFSL no. 239183, a related body corporate of HIAIS and part of the Aon Group. HIAIS will receive remuneration that is a percentage of commission and fees if you choose to obtain financial advice from AHFA. 


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