An accident at work that results in injury or death can be devastating. The fallout that ensues after a workplace incident can affect not only the injured, but also those around them. A person’s mental wellbeing, family life and, of course, income can be heavily impacted. The constant need to stay ahead with everyday business and personal expenses can be taxing on an individual’s mental health.
Workplace accidents occur in all sectors – from cleaning to professional services – but the most prevalent serious claims (claims resulting directly from injury or fatalities at work) are in areas where workers are more physically active. 29% of people in the Australian workforce are in a physically demanding occupation (such as Labourers, Technicians/Tradies, and Machine Operators/Drivers) and a good 30% of people involved in the Australian franchise sector fall into these groups. Often the people involved in these sectors aren’t covered by workers’ comp, and need to find another way to cover themselves should disaster strike.
In the franchising sector, the more physically demanding jobs can be found in areas such as garden and home maintenance, auto detailing and specialised trade services. All are occupations that offer various opportunities to sustain injuries, leaving people with no choice but to take considerable time off work to recover. The main causes of workplace injuries can be narrowed down to three things – body stressing, falls, trips and slips, and collisions with moving objects. These accounted for almost 80% of all serious claims in the last five years.
In the last 5 years, the average amount of time an injured worker spent off work in Australia was over 4 weeks. 4 weeks, in anyone’s case, is a long time to be off work. It begs the question, could the average Australian worker keep themselves afloat using just their savings? In many situations, the answer is no.
Constantly bombarded with conflicting messages about what sort of cover they should get, the average worker finds it difficult to decide which product will have their back when the going gets tough. The main distinction to make is the difference between Personal Accident & Illness insurance (PAI) and Income Protection.
The most significant difference between PAI and Income Protection is that not everyone can qualify for an income protection insurance policy. Those who have been self-employed in the last 12 months (such as those in charge of a franchise), or who have claimed on an income protection policy in the past, may not qualify.
Personal Accident and Illness protection is different, it’s open to more people and is short-to-medium in length (2 years Maximum). What’s more, the policy can be cancelled by both parties. This gives the insured some breathing space and peace of mind knowing that they can cancel the cover at any time – free from obligation.
NFIB’s Personal Accident and Illness Cover offers a lifeline to franchisees working in situations that pose significant risks to their safety. Whether it’s auto detailing or general maintenance on homes and public spaces, injuries can and will occur – and it’s better to be prepared for the worst than to be caught with no income in a time of personal strife.
What’s In It For You?
With this insurance you can claim for any salary or business expenses you need to cover while out of work, there’s no medical required and if you get sick overseas, you’re still eligible to claim. If you get injured while running your business, you can rest assured neither you, nor your family, will lose your income.
- There’s no proposal form required. It’s all online.
- You set the cover based on your own circumstances.
- It covers ages from 18-70 inclusive.
- Business expenses (including franchise payments) are included.
- There’s flexible payment options.
- There’s a 104 week maximum benefit period.
- It’s usually tax deductible.
- You’re covered 24/7.
- You’re covered worldwide.
For further enquiries and to get a free quote, visit our contact page.
Workplace Injuries in Australia