Growing Demand for Income Insurance Protection

Reports indicate that up to 25% of Kiwis are considering taking out an insurance policy on income protection insurance New Zealand. Last year’s earthquake in Christchurch as had an influence in their decisions.

This has lead to an increase in the number of purchases of income protection insurance all over the country. Annual premiums rose immediately after the earthquake with year on year figures increasing by as much as $13.2m between the second quarter of 2011 and mid 2012.

Most of the response came from the younger generation and this portrays a brighter future for Kiwis willing to secure their futures by protecting their revenue streams through income protection insurance New Zealand.

This has provided an opportunity for New Zealanders to increase their levels of income protection insurance even though the majority of locals do not have any form of insurance protection. The trend towards insuring properties is still growing even though this is not a very encouraging prospect as a majority of families are still left exposed to significant risk during the advent of a crisis.

It is expected that in the coming years, more individuals will purchase income protection policies because of the challenges facing the global economy and how it affects job security.