Benefits of Income Protection

When it comes to Income protection, this is an insurance policy that is designed to protect up to 70 percent of your gross salary in both the short term and long term if you are unable to work because of an accident or sickness. In case of short-term protection, you can also be covered due to unemployment. There are not many employers who offer long-term sick pay and so such an insurance policy has become more vital than ever. The following is a reason why a person requires such an insurance cover.

Statistics indicate that hundreds of thousands of people have made a claim for their Income protection insurance in the past year. The good thing about such coverage is that your lifestyle can still be maintained in case the worst happens. If you happen to suffer injury or sickness that prevents you from working, your Income protection NZ will start to pay you benefits every month. You can continue to receive the monthly benefit until your policy has ended, after your selected deferred period or until you have returned to work. It is possible for you to insure up to 70 percent of your income for any period of time, even until your retirement.

With Income protection insurance nz, you can get long term protection for your income and this can continue to provide monthly benefits until you retire. With short term coverage, a person can get monthly benefits for 24 months and this policy is not as comprehensive when you compare it to traditional options. Short term policies do not have reviewable premiums or medical underwriting. The great thing is that you can get a free quotation when you make an inquiry. You can choose the type of policy that you need and choose a monthly benefit and your free quotation will be sent to your Inbox.