Business overheads cover
This policy pays the owner or partner in a small business a monthly benefit to cover the continuing expenses incurred if the owner becomes totally disabled. This monthly income can be paid for a term of either one or two years.
Allowable Expenses include: rent of business premises, interest on business loans, salaries and related expenses for employees who are unable to earn while the life assured is totally disabled, insurance premiums, electricity, water and gas, cleaning and maintenance, accountants' fees, equipment leasing costs (of an expense nature), property rates and taxes, depreciation of business equipment, and other fixed expenses that are normal in the conduct of the business. Note that employees' salaries will only be covered if they cannot generate revenue due to the life assured being disabled.
Allowable expenses does not include; salary or other amounts payable from the business to the life assured, or any person engaged to replace the life assured, repayment of mortgage of loan principal, cost or expenses of a capital nature, cost of any trading goods or stock. * Please note that special conditions apply; please refer to the Policy Document.