Personal Accident & Illness Insurance

What is it?

When you are running your own business, you may also have dependents such as a family needing you to bring home an income to pay the bills and keep a roof over their head. Perhaps also the business has financial commitments such as leases on equipment and other items.What would you do if you became ill or were injured, not just on the job but during leisure time? Do you have enough savings to continue to pay these on-going costs?

Why do you need it?

As a working director, Workers Compensation will not cover you, only your employees. But even if you are an employee, Workers Compensation generally only covers you for injuries sustained when attending work. Should you sustain any injury or illness that has a prolonged recovery, sick leave can easily be exhausted. Then who will pay the bills?

Including Personal Accident and Illness cover in your Insurance Programme can help minimise the impact to you and your business.

Personal Accident and Illness cover can provide you with an income while you recuperate, maintaining your lifestyle until you are ready to work again. It can continue to pay the bills for up to two years.

Personal Accident and Illness Insurance can provide you or your family with a lump sum benefit in the case of accidental death or permanent disablement. Replacing your income while you recover from an injury or illness that prevents you from carrying on your usual work is the most beneficial aspect of this cover.

What is Covered?

This type of cover can provide:

  • Benefits to the insured in the event of accidental Death or Permanent Injury (based on the compensation percentage shown on the policy schedule multiplied by the capital sum insured); and
  • Average Weekly Income Benefits to the insured for certain Accidents and/or Sickness of the nominated persons.

What can be excluded?

Generally the following exclusions will apply but can vary depending on the insurer. You should refer to the insurer’s Product Disclosure Statement for further details.

Exclusions or restrictions can apply when you reach a particular Age; have AIDS or HIV; certain diseases; any existing medical condition; being under the influence of Alcohol and drugs; certain Occupations or sports; Pregnancy; and Suicide/self injury.

What do I do now?

We can find the appropriate product to suit you whether you are an individual person or a group. Coverage can be personalised to individual requirements, providing a broad range of benefits. So, whether you're a business, sports association, small business owner, contractor, employee or volunteer, CPR Insurance Services can find the right policy for you.

An insurance broker's role is to act as your representative and work in your interests, seeking the best cover at the best price for you from market knowledge.

Call a good one. Call CPR – Experts who will save you!  

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