If your client runs  their own business, having to take time off because they’re sick or injured can be disastrous. Business Overheads Cover keeps things ticking over by helping to pay the business’s regular fixed operating expenses while they’re unable to work. 

Business Overheads Cover can pay up to 100% of fixed operating expenses. It can be a rider to Income Protection or a stand-alone product. 


At a glance

  • Maximum cover is $40,000
  • Indemnity contract that will cover the regular fixed operating expenses of life insured’s business if self-employed and totally disabled
  • Stepped premium type:
    • Minimum entry age 17
    • Maximum entry age 60
  • Level premium type:
    • Minimum entry age 17
    • Maximum entry age 54
  • Choice of 2 weeks or 1, 2, 3, or 6 months waiting period
  • Choice of cover which expires before the life insured’s: 
    • 60th birthday or
    • 65th birthday.

Key benefits

  • Business Overheads monthly benefit: pays up to 100% of a business’s regular fixed operating expenses monthly - up to a maximum of $40,000 - for a 12 month period
  • Reward cover: provides up to $100,000 of Accidental Death Cover at no extra cost after you’ve held the policy for three years. If you also have a Total Care Plan policy when you die due to an accident, we’ll double the Reward Cover benefit
  • Waiving premiums: you don’t have to pay any Business Overheads Cover premiums while a Business Overheads Cover benefit is being paid
  • Automatic indexation: each year we automatically increase the cover to help ensure it keeps pace with inflation. 



Download the PDS for full list of benefits >

When is a benefit paid?

We pay a benefit if the life insured is still totally disabled by the same sickness or injury after the waiting period has ended. We pay this benefit in addition to any other benefit we’re liable to pay under this policy.


Claire is 44 and has been running a successful event management company for the last five years. This business is a great success, however Claire begins to suffer from severe headaches and tiredness. After a number of visits to her doctor, tests conclude that she has severe chronic fatigue and is advised to undertake six months rest to aid in her recovery. 

Fortunately, on the recommendation of her adviser, Claire has taken out Business Overheads Cover in conjunction with Income Care, once she had been in business for twelve months. 

When Claire was diagnosed, she contacted her adviser who explained that she could submit a claim for the fixed, regular operating expenses of her business. Claire’s claim was processed and she has been paid a monthly payment of $3,500 for the past six months. The money has assisted in paying rent, electricity, business car registration and insurance, as well as the business insurance premiums.  

Business Overheads Cover means Claire is free to focus on her health without the added worry of the financial pressures associated with her business and the need to generate income to cover the day to day operating expenses. 

Claire - Life Care case study


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