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You determine the lifestyle you lead and your income is your ticket to that lifestyle. Protecting your income if an unexpected illness or injury occurs can provide the financial stability to recover and return to the lifestyle you enjoy.


These are personally owned policies are are effective tools for an employed person.  There are traps and loop-holes for business owners and sole traders.  Refer to our business suite of products if you are self employed.


Income Protection Cover protects one of your most important assets – your income. It pays a percentage of your lost income on a monthly basis if you are disabled and unable to work due to an illness or injury. This could help pay your bills and meet other financial  commitments while you’re off work, allowing you to focus on your well-being and recovery.

What is the payment based on?


You have several options for Income Protection Insurance (Ask us which one is best for your situation):


1. Indemnity Value Cover
To ensure payments are a realistic reflection of your income at the time of claim, your payments are based on 75% of your average monthly income prior to disability. Indemnity Value Cover pays the lesser of:

  • the sum insured; and
  • 75% of your income before you became disabled, less any income or benefits you are still receiving or entitled to receive.

2. Agreed Value Cover
Agreed Value provides cover at an agreed level, less any income or benefits you are still receiving or are entitled to receive. The agreed value sum insured is assessed at the time of application – financial information is required at this stage. We recommend you discuss these options with your financial adviser. We also suggest that you talk to your tax adviser regarding the tax status of the policy as it relates to you.

3. Loss of Earnings
A blended mix of the above contracts, however calculated more efficiently towards the client at claim time.

4. Mortgage and Rent Protection
Don't be fooled by the name, most people get this cover even if you don't have a mortgage or pay rent.  This will cover up to 45% of you income with no clashes with ACC or ongoing income.

5. Bills and Overheads Cover
Cover 100% of your monthly bills either at home or work.  This cover has no clashes with ACC or ongoing income.