Asteron Business Expenses Insurance

Cover your fixed business costs if you can't work with Asteron Business Expenses Cover

Business Expenses Insurance covers the fixed costs of a business, like the monthly rent, for a maximum of up to 12 months to ensure that the business will continue even if the owner has been seriously injured or ill.Business Expenses Insurance, also known as Business Overheads Insurance, is beneficial not only to business owners, but to self-employed people who play a major role in a business or a company.

Asteron Business Expenses Insurance gives you the ability to handle demands, such as mortgage repayments, school fees, and everyday living expenses in the event of severe physical injury or illness which would render you unable to work.

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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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Built-in BenefitsIncluded?
Business Expenses Benefit
  • Yes
Death Benefit
  • Yes
Premium and Cover Suspension Benefit
  • Yes
Recurring Disability
  • Yes
Elective Surgery
  • Yes
Concurrent Disability
  • Yes
Specific Injury Benefit
  • Yes
Blood Borne Diseases
  • Yes
Crisis Benefit
  • Yes

Key features of the Asteron Business Expenses Insurance policy

Asteron Business Expenses Insurance gives you the ability to handle demands, such as mortgage repayments, school fees, and everyday living expenses in the event of severe physical injury or illness which would render you unable to work.

  • 10 Hour Plus Disability Definition: Aside from its low monthly premium and a flexible waiting period, Asteron Business Expenses Insurance also features a unique 10 Hours- Plus Disability definition which allows you to work 10 hours or less per week without any deductions from the amount earned in that 10 hours.
  • Partial Disability Benefit: You will receive a reduced monthly benefit if they are working on a limited basis for seven consecutive days within the waiting period. They can also receive this benefit if the monthly business income during the partial disability period is less than the pre-disability income because of the illness or injury.
  • Recurring Disability Benefit: No waiting period will apply if the same disability recurred within 6 months.
  • Elective Surgery Benefit: If your policy is in-force for six months, you will be paid in case you will be disabled and eligible for benefits even though the cause of the disability is a cosmetic surgery.
  • Specific Injury Benefit: If you suffer severely due to any of the injuries listed under the Asteron Business Expenses Insurance, you will be paid the benefit without applying for the waiting period and even if your client is still working.
  • Locum Cover: A locum is a person you appoint temporarily to oversee your business if you are unable to work for a period of time due to illness or sickness. With the Business Expense Insurance, you can insure the net cost of insuring a locum or an officer-in-charge in your absence to maintain your business if you are unable to work because of the injury or illness. The net cost includes the amount generated by the person in charge is more than the gross sales, income, or billings.
  • No Offset for Business Profit during Claim Time: If your disability happens to be very severe, the allowable business expenses will be reimbursed no matter how much profit the business has made.
  • Flexible Waiting Period: You can choose your waiting period from as short as 14 days to 90 days, after which 100% of the business allowable expenses and the monthly benefit because of severe disability will be reimbursed.

What expenses can I cover?

The allowable business expenses under this policy include:

  • Expenses which is related to your business premises
  • Monthly utility bills, such as electricity, water, and phone
  • Salaries and costs of non-income producing employees
  • Advertising and accounting fees
  • Interests and fees on loans which sustain the business
  • Business insurance

How much cover do I need?

Businesses have different natures; thus, different needs as well. Since this is the case, there is no set amount of how much you are going to pay to cover your expenses. However, you can get an idea of how much insurance you need by looking at how much expenses you have every month.

Business Expenses Insurance will ease you the financial burden of worrying over your monthly obligations while focusing on getting better.

Factors that would play an important role in how much business expenses insurance you have are as follow:

  • Employee salary (non-income producing)
  • Monthly rent on your place of business
  • Monthly utility bills
  • Car, equipment, or machinery leases
  • Repairs and maintenance

For a monthly premium as low as $25 a month, you can be sure that whatever monthly expenses your business will incur in the event of your illness or injury the Asteron Business Expenses Insurance will be there to help you carry the burden.

It is priceless to have someone to help you when you badly needed it. The coverage that Asteron Business Expenses Insurance has gives you the security and comfort you need, especially in bad times. Why face the uncertainties alone when you have someone to help you by?

Asteron Business Expenses Insurance exclusions to be aware of

Your Asteron Business Expenses Insurance claim will not be paid if:

  • The claim is caused by war or an act of war – whether war has been declared or not
  • The claim arises due to an intentional self-inflicted act
  • It is caused by your voluntary participation in any criminal activity
  • It is caused by pregnancy unless you are continuously totally disabled for more than 90 days
  • It is caused by miscarriage or childbirth unless you are continuously totally disabled for more than 90 days
  • You are incarcerated
  • If the event giving rise to a claim occurs while you are unemployed (this exclusion only applies to cover held under a superannuation policy)

Who is eligible for Asteron Business Expenses Insurance?

  • To qualify for Asteron Business Expenses Cover, you’ll need to be between 18 and 60 years of age at your next birthday
  • Cover offered under the policy expires on the policy anniversary following your 65th birthday

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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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