Business insurance policy is a complex industry and because of the large amounts of money involved in almost all transactions, be that premium payments or in pay-outs for losses, the policies necessarily involve a lot of legalese. Insurance organizations are, after all, for-profit companies and they need to take in more dollars than they pay out.
Conversely, businesses need insurance coverage to guard themselves from theft, fraud, and damage to building and or stock. The language of the standard insurance policy policy can seem very archaic and the formality of the legalese difficult to understands. Many insurance coverage businesses are trying to make their document easier to knows but they are still long winded and difficult to pick through in order to figure out if you are covered for a particular incident. However, most company with a high school education can work their way through the terminology. It is well worth actually reading the documents before you sign them, not that the coverage policy company is hiding something but so that you fully knows what you are getting and how far you are covered and for which kinds of losses.
Most organization owners do not have the time or energy to struggle through the documents and for that reason a trusted insurance policy agent is a must. Keep in mind he or she works for the coverage policy organizations more than for you but with a number of companies to choose from it is in the best interest of all concerned that you knows and get the best policies for your business.
Small business is the lifeblood of the Australian economy but is massively underinsured, putting those businesses, their staff and their loved ones, and indeed the economy at risk. This video is for advisers to use with their clients, to illustrate the many risks small businesses face, and the many ways life insurance can help protect against those risks. Reference tags: ” life insurance” “business insurance” “estate planning” “estate equalisation” “tax” “business expenses” “income protection” “self employed” “zurich” “guarantor protection” “keyman” “financial advice” “case study”
