Business Protection and Succession Planning

Don’t let a temporary setback destroy everything you’ve worked hard for!

At Invest WA we know that your business has cost you a lot of blood, sweat and tears. Few people have achieved business success without investing a great deal of time, effort and money into it.

As you are the key person in your business, serious illness or injury can stop you from earning an income. But that doesn’t stop the salaries, rent and utilities from having to be paid. Nor does it lessen your personal commitments like car repayments, mortgage and living expenses. None of these expenses stop when you do.

While you’ve probably insured personal assets like your car, home and business assets like your office and computers, have you thought about the income stream that allowed you to purchase them in the first place?

• Income protection insurance replaces up to 75% of your income when you are too    ill to work.

• Business expenses insurance covers up to 100% of allowable business expenses    for up to two years.

Together, insurance policies such as these can be a tremendous safeguard for the self-employed person.

Income protection and business expenses premiums are generally tax deductible to the payer, but the benefits are assessed as income.

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