Many people are not interested in purchasing their own income protection insurance because of the benefits that they are expecting to get from their company in the future. It is true that your company will be assisting you when you suddenly become temporarily incapacitated because of sickness or accident. However, every company will only be giving limited support to their employees. What would happen when you become incapacitated for a year? Will your company support you for the whole period?

The questions given above will help you understand the importance of income protection New Zealand. If you would compare income protection to the benefits that you will be getting from your company, you will notice that the former can support you for a maximum period of one year. Income protection insurance will back you up when the benefits that you are getting from your company eventually stops. This is the advantage of having this type of insurance while you are employed. You may have money to support your everyday needs, but you still have to make sure that you will not be losing large amount of your savings for medication when accident suddenly happens.