Ensure a steady income stream during periods of illness or injury, providing peace of mind for you and your family.
Safeguarding Your Greatest Asset
Your income is undeniably your most valuable asset, and protecting it is paramount. Consider this: Could you maintain your lifestyle and meet financial obligations if you were unable to earn an income?
Why Insure Yourself
Just as you insure your house, which is a significant investment, why not prioritize insuring yourself? In Auckland, where property values often exceed $1 million, the average person working for 40 years is likely to earn well over $3 million, making you your greatest asset.
Frequently Asked Questions
Q. How does Income Protection work?
Income Protection is crafted to provide you with a consistent income during extended periods of inability to work due to illness or injury.
Q. Are there different types of Income Protection?
Certainly, there are three options, and we can help you find the best fit:
Q. For how long will I receive payments?
Income Protection offers varying benefit periods, ranging from two years, five years, or until age sixty-five. While longer benefit periods come with higher premiums, statistics from 2013 show that 96% of Income Protection claims lasted five years or less.
Q. Do I have to wait until I get paid?
Wait periods impact premiums, with longer waiting periods resulting in lower premiums. Balancing this requires having sufficient savings or sick leave to cover the financial gap during the waiting period.
Q. Won’t ACC pay me if I’m off work?
ACC does not cover illness, and considering that illness is more likely to keep you off work than injury, Income Protection becomes crucial. It ensures you can meet financial commitments and support your family during illness or injury.
Q. What should I do first?
Every situation is unique, and a tailored plan is essential. It’s not just about getting the cheapest cover but obtaining the right one. Talk to us today to explore options for implementing Income Protection, providing peace of mind for your recovery without the worry of mounting bills. Sleep peacefully at night, knowing your financial well-being is secured.
Still Any Queries?