Income Protection Insurance

Is your most important asset your house, car, contents or…..your ability to earn an income and protect your lifestyle?

Most people consider insuring the first three items listed above, but neglect the fact that to acquire those items your ability to earn is paramount!

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. Income protection insurance can help make sure your family’s everyday essentials are still covered.

If you take a static income of $50,000.00 per annum for a person 30 years of age with 30 years until retirement, at 65 years of age the loss of income would be $1,500,000.00.

What is Income Protection Cover?

Income Protection Cover pays you a regular monthly payment if you're unable to work temporarily or permanently because you are sick or injured. Income Protection Cover is designed to provide you with money to live on, pay your bills, and above all allow you to meet your mortgage obligations while you're not receiving your salary or wages. 

The benefits of Income Protection Insurance

Income Protection Insurance provides you with a monthly payment to help you cover the bills if you’ve suffered from injury or illness. It’s easy to apply for by contacting Scott on 03 980 4541 or by email on scott@amsnz.co.nz  

Other benefits for income protection include: 

  • Receive up to 75% of your income, every month you're off work – from a 2 year benefit right up until age 70.           
  • Select how long you have to be off work before you receive payments
  • Choose a payment period to suit you
  • Access to lower premiums for a longer wait period 

Common questions about Income Protection Insurance

How much income protection cover do I need?

The level of income protection cover you choose will depend on your needs. Things you'll need to consider:

  • Do you have mortgage payments to cover?
  • So how about the credit card bills or hire purchases?
  • Also is your income covering all your regular spending such as groceries, electricity bill etc. or does your spouse or partner work and contribute too?

Can I use my income benefit money on anything?

If your claim is accepted, it's up to you to decide how to use the money. Maybe you'll need to cover bills such as your mortgage or day-to-day living costs. Hence to ensure that your family's lifestyle is less affected by your inability to work.

Can my spouse/partner be covered too?

We don't offer joint income protection cover but your spouse/partner can apply for Income Protection.

 

Do you need help determining the right level of Income Cover?

To see how insurance cover would best suit you and your circumstances feel free to contact our Insurance Advisor, Shane Blummont.

Contact Shane >

Latest News

Miller, Scott
24 March 2020

Published by Scott Miller

Today's announcement on Mortgage Holidays

With today’s announcement by the Finance Minister about 6-month mortgage holidays, we have been inundated by enquiries from our clients.

  • My wife and I have been dealing with Scott Miller for several months now, and his treatment of us and his handling of our home mortgage has been nothing short of PERFECTION.
    Dan and Wendy Koster - 6th August 2015 - 06 August 2015
  • Fantastic Service.
    Leighton and Erin Read - 18th October 2012 - 18 October 2012
  • Scott is highly experienced and professional.
    Matt and Tracey Watson - 15 June 2016

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