If you would compare income protection to other types of insurance, you will notice several similarities. When it comes to income protection insurance, one thing that made it analogous to the types of insurance is the rule regarding the residency of the policyholder. It is stipulated that a person who wants to purchase this type of insurance should stay in the same area of residency for him to enjoy the benefits in the future.

The permanency of your residency is considered when you are purchasing income protection New Zealand to make sure that you are enjoying the benefits that are only given to residences of the same country. However, you have to understand that being a permanent resident does not mean that you cannot leave the country for vacation. Permanency in this sense is all about living, working and spending 99% of your days in the same area. You are still allowed to go out of the country and visit other places as long as you do not have any plans to move out permanently.

If you want to enjoy the benefits of income protection insurance, you must comply with the rules that the insurance company is posting for its policyholders.