About business overheads cover

How it works

How it works

  • Designed for self-employed people to keep things ticking over by helping to pay your business’s regular fixed operating expenses while you’re unable to work
  • Reimburses the actual expenses incurred by the business during the month, less any income derived from trading (up to the monthly benefit)
  • Some of the expenses covered include:
    • Rent
    • Principal and interest payments for a business mortgage
    • Principal and interest repayments for a loan taken for the purposes of the business property rates and taxes
    • Electricity, telephone, gas, heating and water costs
    • The remuneration and associated costs of any non-income generating employee
    • Any remuneration and associated costs of hiring an employee to perform the work the life insured normally does
    • Leasing or hiring costs of equipment or motor vehicles
    • Accountancy and audit fees
    • Business vehicle registration and insurance

Please refer to the Product Disclosure Statement for full details of these benefits and when they are payable.

Tax deductibility

Tax deductibility

The premium is generally an allowable deduction from your assessable income under Section 8-1 of the Income Tax Assessment Act 1997.

Customise your insurance

Talk to your financial planner to ensure your insurance meets all your needs and discuss customising your insurance to suit you.

If you don’t have a financial planner, you can talk to one of ours.

  • Make an appointment for a complimentary, no-obligation meeting with a professional financial planner
  • Call 1300 131 103, 8am to 7pm (Sydney time) business days



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Important information

Please refer to the relevant Product Disclosure Statement for full details of these benefits and when they are payable.
This advice (including the statements on taxation which are based on present taxation laws, rulings and their interpretation) has been prepared without considering your objectives, financial situation or needs. Before acting on it, consider its appropriateness to your circumstances. You should seek advice from your taxation adviser in relation to taxation matters.
 LifeTotal and Permanent Disability (TPD)Trauma Cover, Income Protection, and Business Overheads form part of CommInsure Protection. CommInsure Protection is issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA) and Colonial First State Investments Limited ABN 98 002 348 352 AFSL 232468 (CFSIL), the Trustee of the Colonial First State FirstChoice Superannuation Trust (FirstChoice Trust) ABN 26 458 298 557. CMLA is responsible for the administration Total Care Plan Super and provides insurance benefits to the fund as insurer. CMLA and the Trustee are wholly owned subsidiaries of Commonwealth Bank of Australia ABN 48 123 123 124. Commonwealth Bank of Australia does not guarantee the obligations or performance of CMLA or the Trustee or the products they offer.
 A Product Disclosure Statement (PDS) describing CommInsure Protection is available online, from your Commonwealth Financial Planner or by calling 13 10 56 (from overseas, call +61 13 10 56) and should be considered in making any decision about these products.
 Commonwealth Financial Planners are representatives or authorised representatives of Commonwealth Financial Planning Limited ABN 65 003 900 169 AFSL 231139, a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124.