AIA Business Expenses Insurance

Keep your business running while you're unable to work with AIA Business Expenses Insurance.

As a business owner, your business is important and valuable to your lifestyle and future wellbeing and success. So, you may want to consider AIA business expenses plan to support your financial ability to maintain and upkeep with your business daily expenses in case you are injured or unable to work because of sickness.

You will find getting insurance very beneficial should you become incapable of managing you business overhead expenses once you get sick, sustained a serious illness or accident and are incapacitated to work. You can strategically keep your business in place and running despite any unfortunate events that may occur in the future.

Under this policy business expenses are defined as normal operating costs incurred through operating a business or practice and include:

  • Accounting and audit fees.
  • Advertising, postage, printing and stationary.
  • Electricity, gas, water, phone, cleaning and security costs.
  • Rent, property rates and taxes.
  • Plant and equipment leasing costs.
  • Bank charges, principal and interest payments on business loans.
  • Business related insurance premiums (not including this policy).
  • Salaries and related costs for non-income generating employees.
  • Net costs of employing a stand-in or locum.
  • Membership fees and subscriptions to professional bodies.

Obtain AIA Business Expenses Insurance Quote from an Adviser

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Coverage is the amount of money that you will be paid in the event of a claim. An insurance consultant can help you determine an appropriate amount. Calculator
Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
Provides a lump sum payment if you suffer a serious medical condition. Cover can be taken out for 40-60 medical conditions depending on the policy you choose.
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What types of policies, options and benefits are available?

Business Expenses
Available as:
Business Expenses Stand Alone
  • yes
Rider Benefit (to Income Protection Benefit
  • yes
Premium Structure
Stepped Premiums
  • yes
Level Premiums
  • yes
Optimum Premiums
  • yes
Type of Cover
  • yes
Built-in Benefits
Total Disablement
  • yes
Partial Disablement
  • yes
Benefit Period of 12 months
  • yes
Waiver of Premium
  • yes
Benefit Indexation
  • yes
Cosmetic or Elective Surgery
  • yes
Benefit at an Additional Cost
Day 1 Accident Benefit
  • yes

What are the entry requirements for this policy?

Eligibility requirements for the AIA Business Expenses policy vary depending on the applicant's age and occupation.

  • Entry age is between 16 and 60 years for those in the following occupation categories:
    • AAA: White collar workers with tertiary qualifications or equivalent industry experience.
    • AA: Medical professionals with tertiary qualifications.
    • A: White collar workers in low-risk office environments.
    • B: Non-white collar workers such as supervisors or administrators in a warehouse or industrial environment.
  • Entry age is between 16 and 55 for those in the following occupation categories:
    • C: Skilled tradepersons working in moderate-risk environments.
    • D: Semi-skilled unqualified tradespersons performing heavy manual labour in high-risk environments.

The policy expiry age for all occupational categories is 65.

For what reason will a claim not be paid?

AIA will not pay out benefits under the following circumstances:

  • Self-inflicted injuries.
  • Injuries received while serving in the armed forces of any country.
  • Normal pregnancy, uncomplicated childbirth or miscarriage.
  • Business net income derived during the claim period (only that portion of the benefit is paid).
  • Undisclosed reimbursement from another policy (only 100% of the benefit will be paid from all sources).
  • Non-regular operating expenses such as salaries for income generating employees, commissions, bonuses, loan repayments, capital costs, real estate depreciation, investment losses and certain taxes.

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William Eve

Will is a personal finance writer for specialising in content on insurance. While he cannot give personal advice to clients, Will enjoys explaining the intricacies of different types of protective cover to help individuals and businesses find affordable cover that won't leave them underinsured.

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