Income Insurance

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Loss of Income

Loss of Income can spell financial disaster for our household.  Think for a moment about COVID-19 and how that has affected most Kiwis because most of us simply do not have the financial reserves to meet our financial commitments if our income stops.  Maybe you've been affected recently and know what it is like to experience a loss of income. Government Assistance Fortunately, there has been some Government assistance for employees and self-employed, and if it were not for that, your financial situation could be much worse.  Your employer would have received income from the Government to help pay your [...]

Insurance for COVID-19

Insurance for COVID-19, and what are your options? Firstly, there is no specific insurance cover for COVID-19 but the medical conditions or health complications it may cause you, could be covered and it will depend on the type of cover you have and the conditions that are caused by COVID-19. Let's look at a couple of scenarios Scenario 1 If you had income protection and were unable to work because you were sick, then you could be eligible to claim on your income protection policy whether the COVID-19 virus caused it or not.  Your policy wording may be something like [...]

2020-11-15T22:54:55+13:0019/04/2020|Categories: Health Insurance, Income Insurance, Life Insurance|

Income Protection Insurance

What is Income Protection Insurance, and who needs it? Income Protection Insurance is affordable for most people, especially if you insure for what you need and don't load your policy up to maximums with additional bells and whistles. Remember, if you are earning income for the household, then you're the biggest asset. You are going to earn more than your car is worth, or most likely even what your home is worth, and we don't think twice about insuring our car or house, yet all that, can go out the window if you lose your ability to earn income to [...]

2020-11-15T22:58:32+13:0019/03/2020|Categories: Blog, Income Insurance|Tags: , |

Income Insurance Agreed or Indemnity?

When it comes to Income Insurance, the fine print matters, here are a few key areas to consider when getting your Income Insurance sorted. GET AN AGREEMENT FROM OUTSET There are a few policy types but you can bring them down to three core categories which are Agreed Value, Indemnity Value and Loss of Earnings but in this article, we will look at Agreed Value and Indemnity Value. Firstly, an Agreed Value policy means that you and the insurer agree to an insured amount when you take the policy out, so at claim time you will not have to prove [...]

2019-05-20T12:35:01+12:0020/05/2019|Categories: ACC, Blog, Income Insurance|Tags: , , |
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