If you operate your business as a sole trader or as a partnership rather than a Pty Ltd Company you (and your partners) may not be covered by Workers Compensation.

Personal Accident and Illness Insurance can be obtained to cover up to 80% of your earnings where you are unable to attend work due to an injury or illness.  This policy typically has an excess of 14 days ie the first two weeks off work are not covered.  The benefit period for this policy is typically two years, ie if you have a serious injury or illness payments will stop after two years.

You should be aware that there is a life insurance product available known as Income Protection or Disability, the main difference being that the life insurance product is able to provide cover through to age 65 rather than payments stopping after two years.  As general insurance brokers we are not licensed to deal with the life product, however we wanted to ensure you are aware of the various options.

To obtain Personal Accident and Illness Insurance a proposal form is required, which amongst other things will ask questions about your medical history.

We would recommend that you speak with one of our Tier 1 qualified staff prior to considering if this cover is suitable for you.