CBD Insurance Services is a professional and trusted insurance agency that specialises in Disability Insurance and is proud to be Australia’s number one choice.
Since 1983 we have been providing all types of business insurance to help you protect your business and family.
We work closely with all types of SME’s and professionals to ensure they have the necessary protection they need to withstand any business or personal risks that may come their way.
What Is Disability Insurance?
Accidents and injuries can happen at any time, anywhere. Therefore, it’s better to be prepared for such occurrences rather than being sorry later on.
Just imagine what would happen to your small business if you were unable to work for several months! That’s where CBD Insurance Services can help you.
How do we do this? The answer is Disability Insurance, also known as Income Protection.
Disability Insurance covers a portion of your income when you lose your ability to conduct your business due to a non-work related accident or injury.
Our professional advisers at CBD Insurance Services will help you to choose the best policy for you depending on your needs and budget.
Why Choose Us?
- Our expert team pride themselves in taking time to build relationships with each and every client
- We assist you with the entire Disability Insurance claim process to ensure that the experience is efficient and stress-free
- Our professional advisers will help you to understand the intricacies of Disability Insurance so you can make the right choice of policy
- We are aligned with some of Australias highest regarded experts in their field and work with these experts every day
- Our mission is to create a SYSTEM for you, which is an acronym for Save Yourself Stress, Time, Energy and Money
- We provide the best solutions for you by analysing your risks, measuring the likelihood of them occurring, and then determining the consequences should these risks come to fruition
- Our professional and trusted consultants specialise in a broad range of life insurance related products
- We have over 35 years experience have worked alongside some big names such as Garry Harvey, Amanda Keller and International Filmmakers Scott and Kerry Hicks
- Our professional advisers ensure that everyone is treated individually as a person, not just a number
- We provide you with a dedicated advisor so that you know exactly who to contact when you have questions or a claim
- Our support staff respond to your needs in a professional and timely manner.
Importance of Disability Insurance for Your Small Business
To the unprepared small business owner, an accident or illness resulting in temporary or permanent disability can be devastating personally and professionally.
That’s where Disability Insurance comes into the picture. Disability Insurance will protect you and your small business in the event of an accident or illness.
With hundreds of Disability Insurance agencies in Australia, selecting the right policy is not as easy as it sounds.
Your research is crucial to getting the best disability cover for you and your business. That’s where CBD Insurance Services come to the fore.
Our expert team helps mitigate your risk by choosing the best Disability Insurance cover for you and your business.
How Much Disability Insurance Do You Need?
If you think the government will take care of you when you have no income, you should think again. Social security benefits won’t cover your entire income.
The size of the payout will most probably result in an income shortfall. Social security benefits may also have long waiting periods.
That’s why you should think about Disability Insurance for you and your small business.
The most important thing is to determine how much disability cover you require and can ultimately afford.
You should start off by reviewing your assets and liabilities. That way you can determine how long you can go without income.
It’s important to also understand that you aren’t able to purchase 100% income coverage when buying Disability Insurance.
Most providers will provide cover up to 50-75% of your gross income.
Insurance providers do this as they want to offer an incentive for you to return to work to run your small business once you are back to full health.
What Does Disability Insurance Cover?
Disability Insurance replaces your income lost due to an accident or illness beyond 30 days, although you are able to select waiting periods beyond this.
It will usually replace anywhere from 50-75% of the policyholder’s income based on their previous year’s income potentially until you are 65 years old.
The length of the payout period can be selected and is priced according to your budget. The right policy should cover:
- Long-term and short-term disability benefits
- Spouse disability and dependent disability – depending on the type of policy you choose
- Rehabilitation services
- Workplace modification and security coordination assistance
What Does Disability Insurance Not Cover?
This type of policy doesn’t cover work-related injuries and accidents. That’s where workers’ compensation insurance becomes important.
Disability Insurance covers small business owners who are incapacitated because of accidents or illnesses that happen outside of work.
It’s important you pay attention to how the insurance provider defines “disability” when you decide to purchase such a policy.
Mental and nervous disorders are usually excluded from this type of policy.
The Limits on a Disability Policy
A short-term policy will cover your loss of income from three to six months after an accident or injury.
Long-term policies can be extended for a number years depending on the requirement of the small business owner.
However, the policy won’t apply once you reach the age of 65 years.
What to Consider When Buying Disability Insurance?
With a host of insurance companies operating in Australia, choosing the right disability cover isn’t easy.
Your research plays a crucial part in picking the best policy for your needs and budget.
Any small business owner who plans to invest in a disability policy should compare each provider’s definition of the term “disability.”
It can be defined as being related to a specific occupation or any occupation.
You need to check if you are covered for a specific or all occupations before buying the policy.
Don’t forget to check the financial ratings of the insurance underwriter before you purchase the policy.
Customer feedback is also important when buying Disability Insurance especially when it comes to paying out claims.
A good provider should have a strong rating from its clients in Australia.
Why Choose CBD Insurance Services?
CBD Insurance Services is the most trusted insurance agency in Australia.
We specialise in small business disability cover to help protect the income of small business owners due to non-work related accidents or injuries.
At CBD Insurance Services, we are in the business of keeping small businesses and professional practices safe.
Our expert team carefully selects and combines various types of insurance cover to protect you and your business.
For an obligation-free, competitive quote, professional insurance advice or more information on how we can help you, please contact one of our expert consultants today on (08) 8357 1422 or send a message through our website:
