Life Insurance

There are a number of risks in life, such as natural disasters, loss of income, and sickness. There are insurance policies which can protect New Zealanders and dependents and reduce financial loss should these events occur.

If a New Zealander suffers an accidental injury that stops them working or means that they can only work in a lower paying job, ACC will pay medical and rehabilitation costs as well as up to 80% of pre-injury income. However ACC does not pay benefits if you cannot work because of illness or death from disease or degenerative conditions that weren’t caused by your work.

A New Zealanders ability to earn an income is their greatest asset. On an income of $50,000, lifetime earnings could easily exceed $2m while major assets (house, contents and car) may only be a quarter of that. While 98% of home owners and 95% of car owners are insured, 4 in 5 New Zealanders have not insured their income against sickness or disability.