Income Protection Cover

How long could you survive without a paycheck? Kiwis could benefit from an Income Protection Insurance Cover that pays a monthly premium if you become disabled and unable to work due to injury or illness.

Who is it for?

No one is immune to getting seriously sick or injured in the future. When a life-changing event happens, imagine how tough it could be for you and your family.

Do you have enough savings to cover your loss of income, and just how long will those savings last? If you want certainty that you’ll manage for an extended length of time, then this insurance is definitely for you.

Benefits of Income Protection Insurance

Here are the main reasons why you should get an income protection policy.
  • It secures you financially while you are unemployed, due to injuries or sickness.
  • The benefits may be extended to cover partial disability of the policy owner.
  • It can be customised.
  • It may be tax-deductible.
  • You can use the money for whatever purpose you can think of. There are no restrictions. 
Income protection is designed to give monthly pay-outs for several years depending on the terms of your chosen policy. 

What else should I know about income protection insurance?

Here are some important facts that you should be aware of.
  • Most, but not all, occupations can be insured under an income protection cover. High-risk occupations have to be treated differently. 
  • Income protection products usually expire when you reach age 65. Some policies extend the protection up to age 70.
  • ACC may not cover you during sickness as it covers physical injuries only. e.g accidents.
  • The cost will depend on various factors such as your age, occupation, gender, insured amount and wait period. 
  • If your income changes, you can also update your insurance policy.

The terms really depend on the specific policy that you will be getting, so it is best to read and understand everything before proceeding. If you need more information and clarification, talk to us.

We can help you choose the most suitable income protection insurance cover. Let’s get in touch.

You can also contact us for advice about asset financing. 

Contact us today

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