As much as we may try and avoid it, accidents do happen so it is wise to protect yourself from becoming another unfortunate statistic. A large number of Capricorn Members are owner/operators of their businesses and one of the most daunting prospects for many is to be out of action for an extended period of time as a result of an accident or illness. The pressure of keeping your business running efficiently and resulting loss of income whilst you are not there can be a scary thought.
Personal Accident and Illness Insurance is available through Capricorn Risk Services and offers a broad range of features catering to Members requirements in protecting their business income.
Why do I need Personal Accident and Illness Insurance?
When you are self-employed, you may not be eligible for workers compensation. Personal Accident and Illness Insurance will protect against loss of income while you are unable to work. If the policy holder has an accident, this cover will provide:
- Protection for those who are self-employed, covering capital benefits and loss of weekly income as a result of accident or illness.
- A lump sum benefit amount if you are permanently disabled.
- Broad benefit period options from 12 to 24 months cover.
- Protection for employees in instances where Workers Compensation Insurance and Compulsory Third Party (CTP) Insurance do not provide cover.
- Cover for your nominated weekly gross wage or salary to ensure that you receive some form of income in the event of an injury or illness.
- Additional benefits for rehabilitation as well as the option to cover activities outside of work hours.
What are the key features?
Personalised cover based on the needs of the individual including:
- Cover for up to 100% of earnings
- 24 hour or outside of working hours cover
- Benefit periods from 12 to 24 months
- The ability to choose the amount of excess that is paid before the insurance claim is paid
What are the broader benefits?
- The maximum age limit has been extended to 75 years old.
- Motorcycling is covered for direct commuting and agricultural/pastoral activities.
- Injury definition covers instances of visible proof and non-visible proof such as detached retina, collapsed lung and hernia.
- Permanent total disablement covers any occupation.
- Covers injury from sports including football and other social sports (excludes professional sports). A 14 day waiting period will apply.
The Personal Accident and Illness insurance product offered through Capricorn Risk Services has been developed with Capricorn Members in mind. It has been designed to protect Members if the unthinkable did occur as the result of an accident or illness. You can rest easy knowing that you will be protected through Capricorn Risk Services.
*For a full list of risks protected please see Protect Against Risk.
Products sold through Capricorn Risk Services Pty Ltd (ABN 93 111 632 789) include discretionary risk protection and general insurance products. Discretionary risk protection is issued out of Australia by Capricorn Mutual Ltd. Before deciding to acquire any product you should consider the Product Disclosure Statement available from Capricorn Risk Services Pty Ltd to see if the product is appropriate for you. General insurance products are issued by a range of insurers and in Australia are brokered through Capricorn Insurance Services Pty Ltd. In New Zealand they are available through Capricorn Risk Services Pty Ltd as a member broker of PSC Connect NZ Limited. Capricorn Risk Services Pty Ltd is a registered financial services provider (390446) and a corporate Authorised Representative (No. 460893) of Capricorn Mutual Ltd (AFSL 230038) and Capricorn Insurance Services Pty Ltd (AFSL 435197).