How long could you last without a paycheck?
Income Protection Insurance
Income protection insurance is designed to give you financial security if you can’t work. Instead of worrying about paying bills, a regular income helps you meet day-to-day costs and maintain your lifestyle. At Capital Advice, our friendly advisors show you how to protect your earnings and focus on recovery. Our income protection insurance cover provides extra confidence that you’ll still have money coming in during a challenging period.
What Is Income Protection?
Income protection provides a monthly payment if you’re unable to work due to an illness or injury. It is essentially a form of income insurance, ensuring you still have a reliable safety net when life takes an unexpected turn. Unlike some other policies, income protection covers a broad range of health conditions and accidents. You won’t need to depend solely on savings or assistance from others.
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How Does Income Protection Insurance Work in NZ?
In New Zealand, many people believe that ACC will take care of them for all health issues. However, ACC only applies to accidental injuries, and it often replaces only part of your earnings. If sickness keeps you off work, you may not receive any help from ACC. Income protection bridges that gap, covering both accidental and non-accidental events such as a partial or total disability, so you can keep up with expenses such as rent, mortgage, and credit card payments.
You usually pay a premium based on factors such as age, occupation type, and coverage amount. In general, these policies replace a set percentage of your pay. Check which conditions are covered by your policy, and feel free to request a personalised review if you have questions.
Why Do You Need Income Protection?
Safeguard Against Illness or Injury
No one can predict when health issues might occur. Income protection allows you to focus on getting back on your feet, rather than worrying about finances.
Protect Loved Ones
Household expenses don’t stop. If you have a family relying on your income, making sure you can handle bills and essential costs is vital.
Supplement ACC
ACC only covers accidental injuries, not all medical conditions. Income protection fills that gap to keep you afloat.
Many people also combine it with life insurance to protect themselves against a range of financial risks.
Benefits of Income Protection
1. Regular Monthly Payments
During this period, you receive ongoing payouts that mirror your paycheck, letting you manage your usual expenses.
2. Choice and Flexibility
Tailor the policy to match your priorities. Select benefit amounts, waiting periods, and policy durations that fit your lifestyle.
3. Peace of Mind
With fewer money worries, you can rest, recover, or adjust to new circumstances without extra strain.
4. Quick Claim Process
Our advisors guide you through applications and claims. You have an experienced advocate on your side, helping with paperwork and ensuring a swift outcome.
Who Should Consider Income Protection?
Sole Income Earners
If you’re the main source of household income, you may want to guarantee it keeps flowing during tough times.
Business Owners and Contractors
Self-employed individuals often have fluctuating earnings. A reliable backup if you can’t work helps cover both personal and business costs.
Anyone With Ongoing Financial Commitments
Mortgage payments, car loans, and children’s school fees continue, even if you fall ill or get injured.
Why Choose Capital Advice?
At Capital Advice, we offer a range of insurance products alongside free, personal service to match you with the right policy. Each customer has different priorities, and we take the time to understand your unique situation.
1. Personal Consultation
We learn about your financial obligations and future goals. This helps us tailor a policy that fits your needs and budget.
2. Expert Guidance
Our advisors have in-depth knowledge of New Zealand insurance options. We explain the fine print in clear terms and answer your questions.
3. Ongoing Support
If you ever need to make a claim, we’re here to help. From initial forms to final approval, we’ll be by your side every step of the way.
Ready to Protect Your Income?
Call us on 04 495 5903 or send an email to info@capitaladvice.co.nz. Our experienced team can discuss your needs, answer your questions, and recommend the right policy. It costs nothing to see how income protection insurance can keep your finances safe if you can’t work.
We’re here to help you request a plan that works for you.
