Life Investment Corporation NZ LTD.

New Business Cover 


Running your own business can be very rewarding. It gives you the freedom to set your own goals and can provide you with the lifestyle you want. But getting your business up and running takes commitment, time and significant upfront financial investment.

As you build your business’ reputation and find new customers, you’ll probably want to protect your hard work and investment. So if you or a key person in your business is suddenly taken ill or has a serious accident, how will your business continue to grow?

The solution is New to Business Cover.

If you or a key person in your business is sick or injured and unable to work for an extended period of time,New to Business Cover will pay your business a fixed monthly income for up to two years to help keep your business running.

  • Choice of monthly income: $2,000, $3,000, $4,000, $6,000 or $8,000 per month
  • Benefit paid in advance each month
  • Choice of waiting periods: 4, 8 or 13 weeks
  • Use the money how you like
  • Premiums waived while a benefit is being paid
  • No reduction in payments if you’re also receiving ACC or other income protection benefits

With our New to Business Cover you’ll also receive a recurrent disability benefit, so if the same disability or illness occurs within 12 months we’ll waive the waiting period.

 

Insurance for Established Businesses



There are many benefits to running your own business. For a start, it gives you the freedom to set your own goals and do things your way. But just as importantly, it provides you and your family with a lifestyle that may not have been possible if you were working for someone else.

So what would happen to your business if you or a key person in your business was suddenly taken out of the picture? Accidents and illnesses happen when you least expect them – how would your business continue to operate without you?

 Business Continuation Cover is a simple insurance plan designed specifically for profitable businesses over four years old. It provides a monthly income of up to $50,000 to help keep the business running if you or a key person* in your business is unable to work due to illness or accident.

The money can be used for any purpose – to pay expenses, hire new staff or buy new stock for instance. What’s more, the amount you receive won’t be reduced by any other insurance benefits you may receive, like ACC or other income protection benefits.

 For Business Continuation Cover, a key person is either a working shareholder or a non-shareholding employee with specific skills who generates revenue for the business (who is not a passive investor). To be eligible for this cover, the business must have no more than five key people and no more than 15 employees.

It’s a financial safety net to ensure your business can continue, even if you’re not around.

If you or a key person in your business is sick or injured and can no longer work for an extended period of time,AIA Business Continuation Cover will pay your business a fixed monthly income for up to 12 months to help keep your business running.

  • Cover of up to $50,000 a month
  • Benefit paid in advance each month
  • Choice of waiting periods: 4, 8 or 13 weeks
  • Use the money how you like
  • Premiums waived while a benefit is being paid
  • No reduction in payments if you’re also receiving ACC or other income protection benefits

With our Business Continuation Cover you’ll also receive a recurrent disability benefit, so if the same disability or illness occurs within 12 months the waiting period is waived for the second episode. And if you choose the partial disability option you’ll get a benefit if, after a 7-day period of total disability, you’re able to work but for fewer hours than before.

Please refer to the relevant policy document for full details of the insurance contract and the terms, conditions, limitations and exclusions that may apply.

Please click on this Link if you would like to read more about ACC and Self Employed


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