Did you know…
New Zealanders claimed more than 84 million dollars in income protection between July 2009 and June 2010.
- 1 in 9 men and 1 in 5 women are likely to be disabled and off work for more than 12 months before the age of 65.
- 5 in 10 men and 7 in 10 women are likely to become disabled due to an illness or accident before they turn 65, preventing them from working for at least 1 month. Of these, nearly a third will still be on claim 12 months after.
- Disease or illnesses are the most common reasons for disability among adults.
- Accidents or injuries are the cause of disability for an estimated 166,300 adults in New Zealand, and the most common type of accident or injury causing disability is one that occurs at work.
Why you need it
The financial consequences of a disability or extended illness could be devastating for your life style and those who depend on you.
An average income earner will earn over $1.4 million through there working life.
A prolonged absence from work or a return to work in a reduced capacity could have a severe impact on your future security.
Sadly many people insure their house, car and lives, but don’t insure their most valuable asset – their ability to earn an income.
Income protection provides a regular benefit payment; in the event of you’re unable to work due to sickness or injury.
