Business Interruption?

My elderly neighbors were having a discussion over coffee about whether they each wanted a burial or cremation when they passed away and though I thought it unusual, as I sat with them, they involved me in their conversation.

“I’m not sure” was my answer. “I guess until I’m there, I don’t really think about it.”

Funny conversation you say?

Well, this discussion was important to them at this stage of their life and told me they wanted to make sure their decisions were in order, so their family didn’t have to worry having to make them.  They had also taken out Funeral Insurance in order that their children didn’t have this additional expense.

As I wandered back into my office that day, I thought it’s really the same with Income Protection. Most people don’t really think about it until it is needed-but then it’s too late.

One of my clients recently asked about building and contents insurance and I posed the question to them. “What about Business Interruption Protection?” I asked as they looked at me quizzically and I went on to give the analogy of my neighbour’s that morning. “But my husband is a government worker, she said. He will have plenty of money to cover our expenses if anything happens to me.

I explained that Business Interruption Protection Insurance is about covering you for unexpected times. Gosh, business has had so many of those with Covid and then recent floods and whilst the hospitality venue she owned was doing well, I asked my next question. “What if your husband suddenly fell ill and you needed to care for him. Who would help pay your expenses then?”

As she sat thinking, it dawned on her that the business might have to close and she would still be in debt.

My advice?

It is simple to take out building and contents insurance and most people think of this, yet when it comes to protecting your most valuable asset, yourself, most do not even give it a thought.

Business Interruption Protection Insurance helps pay for the unknowns. Just like not knowing when you might need that funeral insurance and need to decide about whether your partner wanted a cremation or burial, you need to know what is paid for and what isn’t.

Having a sound insurance plan for life is important because you never know what is just around the corner. Why not speak to MyPub Insurance today about your own Income protection insurance. You never know when you will need it!

Oh, and by the way, the photo below is me, Allan Sudale. I understand your business, because I have also owned one. So why not take advice from someone who has been there and knows what you need!

#insurance #incomeprotection #incomeprotectioninsurance #pubinsurance #mypubinsurance


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