Business cover
When you own a business, part of survival is asking the hard “what if” questions. What if a business partner dies? What if your top sales or technical person has a major car accident? What if serious illness prevented you from being able to work ever again? Protecting the future viability of your business could be as simple as insuring yourself and your key people.
ING Business Cover lets you select the types of insurance that fit your commercial situation. Here are the components available:
Business Assurance Life Cover
Provides a lump sum in the event of the death or terminal illness of the Life Assured – you, your key people or fellow shareholders for example.
Business Assurance Trauma Cover
Pays a lump sum in the event of a critical medical condition or trauma, such as heart attack, stroke, cancer, major burns, paralysis, amputation or being diagnosed with multiple sclerosis. A claim on this cover will automatically reduce your Business Life Cover by the same amount.
Business Assurance Complete Disablement Cover
Complete Disablement Cover provides a lump sum payment if the person insured is completely disabled and unlikely to ever work again. A payment under complete disablement cover will automatically reduce your Business Life Cover by the same amount.
Optional Guaranteed Insurability Option
This optional feature allows cover levels to keep up with the changing needs of business. It allows Business Life, Business Trauma and Business Complete Disablement to be increased under certain conditions without further medical assessment of the person the policy relates to.
Business Assurance Overheads
This valuable cover allows a small-to-medium business to receive a monthly payment if a key person is disabled and unable to work. It can be used in various ways - to cover a range of fixed overheads, or hire a locum thus ensuring your business survives while you recover.
Business Extra
A unique concept in business protection by providing certainty that the risks of losing your key people through health reasons can be properly identified and the creation of a contingency plan to ensure the survival of your business in the face of such risks. By paying an agreed lump sum to the appropriate beneficiary at agreed periods of time your business has the certainty of having the financial resources to cope with the loss of a key person through health risks.
As each client’s needs are individual, differing conditions may apply.
- Last updated 28/07/2008
