Back to Insurance
Business life and disability protection

Business life and disability protection

Protection against illness, disability and death

  • Insuring key people helps your business to survive when they can't work.
  • Life cover can protect shareholding if a partner dies. 
  • Lump sum trauma or disability insurance payouts can repay business debt.
business life and disability
More about
Text size: smalllarge
More about

ASB Insurance Managers can help you arrange an insurance package that protects your business against the problems caused by illness, disability or death.

Here's a quick summary of the different types of business benefits available:

  • Business Protection – When illness or accident leaves you or a covered key person unable to work, Business Protection cover can protect you and your business from the consequences. This cover can provide a monthly payment to keep your business running should you become disabled as a result of an accident or ill health.
  • Business Overheads – pays a monthly income to cover the continuing expenses incurred if you become totally disabled.
  • Locum Cover – provides a monthly income to help keep your business operating if you are totally disabled. It reimburses the cost of a replacement or covers your eligible business overheads if a locum is not engaged.
  • Life Cover – essential cover for anyone with a business that could be put at risk in the event of death and pays a lump sum payment if you die, assisting those left behind.
  • Living Assurance – pays a lump sum and is ideal for covering immediate business expenses and financial hardship should you suffer one of a number of critical conditions, such as heart attack or stroke.
  • Total Permanent Disablement – If you are totally disabled through sickness or injury, this cover provides long term certainty that your business will survive by paying a lump sum payment.
  • Rural Disability Insurance – provides a monthly payment to safeguard the future of your farm or sharemilking business (you must own, part-own or lease the farm or the herd) should you become disabled as a result of an injury or illness, and be unable to farm for more than 10 hours a week.

Terms and conditions: The availability of any insurance cover is subject to your application being approved. All applications are subject to individual consideration. Special conditions, maximums, exclusions or premium loadings may apply. For full details, refer to the Policy Document which is available on request from any ASB branch.

This insurance is underwritten by Sovereign Assurance Company Limited (“Sovereign”) a member of the ASB Group of Companies.

As at 21 December 2010 Sovereign has earned an A+ (Superior) financial strength rating given by A.M. Best, Inc., an approved insurance rating insurance agency. A copy of the scale of which this rating forms part, is available from Sovereign.

Sovereign is part of the Commonwealth Bank of Australia Group and is a related company of ASB Bank Limited and its subsidiaries (the "Banking Group"). Neither the Banking Group, the Commonwealth Bank of Australia, nor any other company in the Commonwealth Bank of Australia Group, nor any of their directors, nor any other person, guarantees Sovereign or its subsidiaries, or any of the products issued by Sovereign or its subsidiaries.