Salary Continuance Insurance
Sometime know as Group income protection, would be taken out by a business to protect there employees ability to earn an income when they suffer either an accident or an illness. It is a fantastic way to look after your employees, Dunsford Financial Planning does this for its staff.
As a financial planning business, we would say to most clients that your ability to earn an income is your greatest asset. If you are unable to earn an income due to an accident or illness, this plan would protect 75% of your income normally with a 3 month waiting period, to age 65. The cost would be tax deducible to the employer, and there would be no FBT on the cost.