Income Cover
Income Protection helps cover your everyday living costs if you are unable to work due to illness or injury. Income protection pays up to 75% of your income if you are ill or injured – providing financial relief at a time when you need to be concentrating on getting back on your feet.
What Are The Cover Options?
With Income Protection cover, some of the options available are:
- Agreed value’ or ‘Indemnity – “Agreed value’ will pay the predetermined sum insured no matter what your income at time of claim. Meanwhile, ‘Indemnity’ cover will pay the lesser of your sum insured or income at time of claim.
- Waiting periods – Choose how long you will wait, in the event of a claim, before you receive benefit payments – 2, 4, 8, 13, 26, 52 or 104 weeks.
- Benefit periods – The benefit payment period can be for one, two or five years or to Age 65 or 70.
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FAQ
Yes, absolutely. Income protection insurance can be of massive help in case of an accident or illness that prevents one from working. Insurance protection can come in handy in such situations and would pay up to 75% of the monthly income made by the individual. It allows one to worry less about their expenses and focus more on recuperating quickly.
You can connect with Expert Advice regarding income protection insurance in Auckland NZ. We would not only find the best income protection plan for you, but our experts would also guide you through the application process.