If you have answered yes to this question, then you may need Income Protection insurance.
Income Protection policies help keep money coming in when you are no longer able to work – either for a short time or permanently.
While New Zealand is lucky enough to have a comprehensive ACC scheme in place for accidental injuries, you’re far more likely to end up off work because of illness. In that situation, you’re usually largely on your own once any sick leave runs out.
When you’re faced with the possibility of many months away from your job, knowing that an insurer will step in to help pay your bills and keep the roof over your head is a huge relief.
Depending on the Income Protection policy you choose, you’ll be paid either an amount you’ve agreed on with an insurer, or will receive a payout based on the amount you were earning before you had to stop work.
Income Protection can make an enormous difference to your life – allowing you to continue the lifestyle you enjoyed before, even if you can no longer pursue your same career, rather than simply subsisting until you can recover enough to get back to work.
Talk to one of our highly experienced Hawke’s Bay Insurance Advisers to help work through the correct insurer and policy that’s right for you.