Q: What is most likely your biggest asset that you
have to insure?
A: Your future income earning potential.
Arguably Income Protection is the most important personal
life insurance that any income earner can purchase.
It also has one of the highest rates of probable claim.
Statistics tell us that one in three disability claims
will last more than 90 days.
If you are a 35 year old and earn $50,000 per annum,
you will earn more than $1.5 million dollars in today's
dollar terms by age 65. If you are a 35 year old and
own a home, chances are you have your house insured,
so why not your income?
Try living without your income and being unemployable
due to a disability, that is the risk we all face by
not having adequate Income Protection
ACC doesn't pay all accident claims. For example, nib
reports that 27% of nib's income protection claims are
caused by accident and not covered by ACC.
Not only will a good income protection policy pay up
to 75% of your gross income to age 65 if need be, but
the insurance company can bring in an army of specialists
at absolutely no cost to you to help increase the chance
of full rehabilitation. All this to help you get better
and become a worthwhile contributor to society again
after suffering a disability. Having financial peace
of mind when you are unwell and unable to work, will
assist greatly in helping achieve a speedy and best
Indemnity based income protection polices premiums
are tax deductible whether you are an employee or self
Insuring your income is one of the smartest things
you can do.
There are choices of stepped premiums that increase
with age and level premiums that do not increase as
you get older. The younger you are and set your premium
at entry at the level premium option means you will
save a lot of premiums in the years ahead. This will
help keep your insurance affordable and sustainable.
If you are made redundant and you have your health,
you are still employable. But if an accident or illness
makes you redundant, you better have Income Protection
Insurance, or be prepared to leave your dignity at the
door at the Work and Income office, which may or may
not pay you some basic income.
There are differences between income protection policies
in the market place. I can help you decide on the right
plan for you. And of course we are there to assist at
claim time, if need be, free of charge.
I have assisted clients make successful income protection
claims arising from Cancers, Heart Attacks, Brain Tumours,
other tumours, Stress and one person falling from a
ladder and suffering compound leg and hip fractures.
"The premium is not the problem, the premium
is the solution to the problem"
Contact me today to find out how to best insure your
Jeff Tobin CLU, ANZIIF (Snr Assoc) CIP.
Chartered Life Underwriter.
Telephone: 09-412 5997
Other people who have found this page interesting
have also found these insurance products of interest:
Repayment and Medical insurance.
Future Dollars When You Need Them The Most"