Life & Health Insurance
Key Person Cover / Business Start Up cover
Replaces a portion of the business income each month if you - as a Key Person - are unable to work due to illness/injury. This varies depending on the insurer and type of plan – some are offset/reduced by ACC benefits or other income. These policies will have a ‘wait period’ and then pay regular instalments, which ranges from 6 months up to 2 years. This can be followed up with Personal Income Protection cover that will start after the benefit period ends.
‘Trauma’ Cover
Lump Sum benefit paid upon diagnosis of a serious illness or experiencing a critical health condition (regardless of the ability to work) including but not limited to; heart attack, stroke and cancer.
Total & Permanent Disablement Cover
Lump Sum paid if you were considered by a medical specialist (after 3 months of an illness/injury) unlikely to ‘ever again’ be able to work in your own/any occupation.
Life Cover
Lump Sum upon death or diagnosis as terminally ill, which can assist with partnerships buy outs.
Private Health Cover
Covers the cost of private medical treatment or related costs where necessary. There are a range of plans available that cover surgery/treatment in addition to specialist consultations and diagnostic tests or scans right through to cover for smaller, day-to-day costs (for example GP visits, dental check ups and so on).
Income/Mortgage Protection
Replaces a portion of your current income (up to 75% or 115% of your mortgage/rent repayments) each month if you are unable to work due to illness/injury. This varies depending on the insurer and type of plan – some are offset/reduced by ACC benefits or other income. These policies will have a ‘wait period’ and then pay regular instalments – in many cases up until 65 years of age.
