Income Protection Insurance
Income Protection insurance will pay you a monthly amount if you are unable to work, due to illness or injury. So, while you are medically unable to work, you can still have money coming monthly in to help you in whatever way is required.
Every year it is estimated over 50,000 New Zealand households have someone in the family who is unable to work for 3 months or more.
With this insurance it means that while you can’t work, you can still have money coming in, so you can keep on with your life even though you’re not earning.
We can provide a quote for Income Protection Insurance by simply clicking here. After clicking please look for the heading ‘Income Protection’ and follow the easy steps to get a quote. Once you get a quote then you can then also apply online if you wish (with cover issued immediately if you meet all criteria).
When you are getting the online quote you will be asked;
- Your annual income (to determine the cover amount)
- Your occupation (some occupations are considered more high risk and will therefore attract higher premiums)
- You can then choose how much of your monthly income you want to replace. You will have options for 75% or 60%. This is common, insurers do not cover all the lost income
- You can choose how long before the insurance starts (it is like an excess). From the time you first become injured or ill you can wait 30, 60 or 90 days. The longer you wait the lower the premiums. Longer wait periods may be good if you have sick leave you can use first
- Then you choose how long you want your income replacement to continue for – up to 6, 12, 24 or 36 months. The longer the period of potential claims the higher the premiums will be.
You can choose the best option to suit you and your budget. When applying, you will also be given the opportunity to view the full policy wording before you complete the application.
For more information or to obtain a quote (and buy online now) you can click here and look for the heading ‘Income Protection’