Is your mortgage covered?

What would you do if you couldn’t do the job you’ve trained for anymore. You may be able to work, but possibly not the work you originally intended. If you are a bookkeeper or BAS Agent you might not be able to travel to clients sites, but thankfully cloud-enabled accounting software like Xero makes it possible for you to work from your own office.

A lot of time and a lot of marketing dollars are spent educating people about what they’d do if they could no longer work at all because an injury left them permanently disabled and an example that’s more visible to most people is athletes transitioning to a life after sport.

One of the biggest concerns for ordinary people is the ongoing cost of their mortgage, then if they have a family it is the costs of education and daily living expenses.

Is income protection harder for business owners?

start a business working from home as an independent contractorBeing your own boss, working your own hours, working close to home and doing something you love are common reasons for people to start their own business. If the business grows large enough you can hire staff to do most of the work but at the end of the day its your responsibility to ensure there is enough money for everyone – so how do you manage your own income protection? Learn more about the Risk Management subject in our Business StartUp Course.

If you are a bookkeeper or BAS Agent you’ll probably noticed work situations where the business is completely dependent on the boss and there may be things you can do to help them understand the risks but also the available options.

Is your income protected enough?

Income protection for tradies, financial educationEven if you are covered, are you covered enough for your current income and liabilities and lifestyle?

Kristine Seymour, is currently working with Your Financial Tour Guide (and she’s our sales coach), and she wants professional Australians to think about what they would do if they were no longer able to do the job they trained to do.

“A 34-year-old surgeon was clearing trees on his property only to have an accident with a saw,” Seymour told The Australian Small Business Centre. “His current career is now over.”

And because he’s a doctor and can still work as a GP, he won’t receive the payout he expected for not being able to work as a surgeon again, Seymour said.

“There are a surprising number of professionals in their 30s who experience dramatic, life-altering accidents or injuries.”

Surgeons, builders, plumbers, gardeners – doesn’t matter

No matter what your profession many business owners don’t have the correct income protection to cover them in the event they’re not able to work as they had intended  as a surgeon or builder or plumber or gardener.

“It is not unheard of to be paying for coverage we believe we have, but when the need arises our payout is reduced.”

A free review of their superannuation or personal insurances now, to ensure they are covered for the unexpected, could save them the stress later on.

“These reviews are important, so people know where they stand and have the ability to make informed choices.”


Offer a new service to your clients

Seymour is looking for introductions to business owners, individuals and professionals who want to offer this service to their clients.

There is no charge to the individual for this service, and it only takes about 30 minutes over the phone.

You can contact Kristine Seymour directly at Your Financial Tour Guide for more information on how to offer this service to your clients or email her at 

Kristine Seymour is an Australian Small Business Centre sales coach. As part of the ASBC Selling Academy, she shared her secrets to turning everyday meetings and conversations into sales conversations or business referrals.

And if you would like to learn more about protecting your business, our risk management training course will help you identify and manage business risk. Visit our website for more information.