If you had an accident or illness and were unable to work would you still have the income you and your family need to survive without any major set-backs? Income Protection Insurance NZ provides you with a regular payment if you were unable to work due to illness or injury.
INCOME PROTECTION INSURANCE
In Uncertain Financial Times..
When thinking about Income Protection Insurance NZ, there are many factors you need to consider:
- How long can I survive without any income?
- Should I consider the “agreed value” or the “indemnity value” option?
- How long might I need to receive payments for?
- At Life Plan, we can help you answer these questions about Income Protection Insurance NZ.
Why you should have Income Protection Insurance NZ
If you’re unable to work due to injury or illness, your groceries, power bills, fuel and your rent or mortgage still need to be paid. Life Plan can help make sure your family’s everyday essentials are still covered with Income Protection Insurance NZ. With bills coming in as usual, you’ll need an income stream adequate to your usual expenses.
If you have dependents, a partner or family who relies on your income to help meet expenses, and/or a mortgage or loans, Income Protection Insurance NZ could be vital to maintaining your family’s lifestyle should you fall ill unexpectedly. Think of Income Protection Insurance NZ as a safety bank account that you can rely on in times of emergency.
Another thing is you might also decide to take out Income Protection Insurance NZ for a limited time — for example, until your children are self-sufficient, or you pay off your mortgage.
People prioritise insuring their possessions valued at $30,000- $100,000 and their car valued at $5,000 – $20,000, but Income Protection Insurance NZ is way down on the list of insurance priorities.
It is absolutely essential that New Zealanders protect their incomes. Why you ask? If we take the average persons income say $40,000 and times that by hopefully the period of time he or she will be generating let’s say 30 years then over that period of time you could potentially earn $1.2 million.
THE LIFEPLAN PROCESS
At LifePlan, we work with you to make the process of sorting out your financial future and your life insurance as simple as possible. We’re focused on your goals and helping you achieve them.
1 We take the time to understand you
The plan we develop to help you achieve your goals focuses on the best case scenario, but sometimes things don’t go to plan. It’s important that we protect you from the risks you face so that you have the best chance of achieving your goals.
2 We work together on a plan
Once we understand your goals and your current financial situation, we’ll work with you on a plan that breaks your goals into achievable objectives that are time bound.
3 We support you while you execute your plan
We might not be in the room, but we’re still there supporting you to execute the plan we’ve developed together. We’re only ever one phone call away.
4 We’ll help you protect what matters most so you can achieve your plan
The plan we develop to help you achieve your goals focuses on the best case scenario, but sometimes things don’t go to plan. It’s important that we protect you from the risks you face so that you have the best chance of achieving your goals.
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