Copyright 2011 © ADVOCO Mortgages & Insurance Limited
0800 ADVOCO (0800 238 626)
Business Continuity Insurance
Key Person Protection Insurance
ADVOCO home page    email ADVOCO    contact ADVOCO    about Steve McGowan     Home Loan Mortgage Calculator    Risk Insurance    Website links
Call us free on
Business Continuity InsuranceBusiness Continuity Insurance

Business Continuity provides a choice of options to protect your business from the financial consequences of sickness and injury.

The cover you choose can provide either a monthly income, or reimburse the cost of employing a replacement.

Three types of cover
To ensure your business is ready for anything, you can customise a protection plan from three types of cover:

1. Business Overheads
Covers everyday running costs of your business – rental of premises, electricity, cleaning and maintenance.

You can choose Agreed Value cover or Indemnity cover.

Agreed Value provides you with an amount up to $8,000 per month, agreed at the time you take out your policy.

Indemnity allows you to insure to a higher level, however, evidence of actual overheads will be required at claim time.

The benefit is payable for a maximum term of either one or two years while the insured person is totally disabled.

The waiting period is four weeks, premiums are waived while you are on claim, and benefits apply 24 hours a day, anywhere in the world.

There is no waiting period if the insured person suffers a recurrence of the same disability within six months of the original benefit ceasing.

2. Locum Cover
Covers the reasonable costs of recruiting a locum to carry on the business while the insured is totally disabled.

If you are unable to locate a locum, then the policy will reimburse the lesser of the eligible business overheads or the insured amount.

The benefit is payable for a maximum term of either one or two years while the insured person is totally disabled.

The waiting period is four weeks, premiums are waived while you are on claim and benefits apply 24 hours a day, anywhere in the world.

There is no waiting period if the insured person suffers a recurrence of the same disability within six months of the original benefit ceasing.

3. Key Person Disability Income Protection
Provides a monthly benefit (in arrears) to compensate for the loss of a key person.

The benefit is payable for a maximum term of one year while the insured person is totally disabled.

The waiting period is four weeks, premiums are waived while you are on claim and benefits apply 24 hours a day, anywhere in the world.

There is no waiting period if the insured person suffers a recurrence of the same disability within six months of the original benefit ceasing.

Eligible business overheads
- Rental of premises.
- Interest on business loans.
- Gross salaries and related costs for employees who are unable to earn   income while the insured person is totally disabled.
- Insurance premiums.
- Electricity, water and gas.
- Cleaning and maintenance.
- Accountant’s fees.
- Equipment leasing costs.
- Property rates and taxes.
- Depreciation of business equipment.
- Other fixed expenses that are normal in the running of business.

 

Information courtesy of

Disclaimer: The availability of any insurance cover is subject to your application being approved. For full details, refer to the policy document which is available on request from Sovereign. Applications are subject to individual consideration. Special conditions, premiums, maximums and exclusions may apply.


                                   

Steve has made it possible for our family to growth wealth and safeguard ourselves with the right insurance package...
- Gary & Lois Birkett

Steve spent time with me working through my insurance requirements and making changes and recommendations. His communication with the underwriters and myself was excellent...
- Bryce Frewin



When you need personal insurance advice to protect your loved ones, life, health and mortgage, then the insurance brokers/advisers
at ADVOCO will get you covered...

ADVOCO - Latin for
- "to call an adviser".

So call an Adviser now
on 0800 238 626

 

>> Make a claim...more

Gregor Mansfield
Insurance Adviser
ACC
Income Protection Insurance