LIFE INSURANCE

There is no way to sugar coat it, we will all die one day. But the last thing you want to do is leave serious financial problems behind for your loved ones to deal with.

Life insurance provides you with peace of mind knowing that a lump sum (or monthly benefit) is available upon death. This cover is two-fold: to provide for the financial needs of beneficiaries and to cover debts and liabilities.

 

INCOME PROTECTION

Your most precious asset is the ability to earn an income.

Trying to cope financially without an income would mean major changes to your current lifestyle. Income protection can provide you with a monthly payment to help alleviate the financial pressures of being unable to work for a period of time until you can earn again or reach retirement age.

There are two types of Income Protection cover:

INDEMNITY

  • Benefit is taxable
  • Premium is tax-deductible
  • 75% of your income covered
  • You are responsible for paying tax

AGREED

  • Benefit is not taxable
  • Premium is non tax-deductible
  • 62.5% of your income covered
  • Tax-free payout

The premium for income protection can be adjusted through the use of different ‘waiting periods’.

The Income Protection cover amount may offset some ACC benefits in certain circumstances.