Cover Options for You & Your Family

Life Cover:  

Provides a lump sum payment in the event of death or terminal illness (less than 12 months to live). The lump sum can help reduce debt, pay for funeral expenses, provide money for remaining spouse or children and/or create an investment fund or inheritance among other things. The purpose of the funds is yours to decide.

Trauma Cover:

Provides a lump sum payment should you suffer one of their critical conditions covered. Most commonly claimed on are Cancer, Heart Attack and Stroke. The cover is designed to alleviate financial burden and can help reduce debt, pay for home modifications or specialised equipment, create an investment fund or provide an ongoing income among other things. The purpose of the funds is yours to choose.

Total & Permanent Disability Cover (TPD):

Provides a lump sum payment should you completely lose the ability to ever work again in your own occupation or carry on your normal tasks (if unemployed or a part time worker) as a result of an illness or injury. The cover is designed to alleviate the impact that losing an income forever would cause. The lump sum can help reduce debt, pay for home care or specialised equipment, create an investment fund or provide an ongoing income among other things. The purpose is yours to choose.

Income Cover:  

Provides a monthly payment in the event you suffered an illness or injury which prevented you from being able to work longer than the chosen wait period. This cover is designed to replace a significant portion of your lost income so you can help maintain your usual lifestyle.

Mortgage Repayment Cover: 

Provides a monthly payment in the event you suffered an illness or injury which prevented you from meeting your mortgage repayments. This cover is designed to cover your mortgage and possibly your lost income after your chosen wait period.

Rent / Household Expenses Cover:

Provides a monthly benefit to cover your household bills in the event you suffered an illness or injury which prevented you from keeping up your regular payments. Designed to cover the essential household expenses, such as Electricity, Gas, Water, Phone, Rent, Rates, Paid TV, Internet, Personal Loan Repayments, Private School Fees and General Insurance Premiums.

Premium Cover:

Pays for your insurance premiums if you suffer an illness or injury longer than the chosen wait period.

Private Medical Cover:

Pays for private hospitalisation in a timely manner and gives you access to a broader range of treatment options such as Non-Pharmac Drugs. Optional non hospital related Specialist and tests cover can be added to provide reimbursements for specialist appointments and diagnostic testing not covered by your Private Medical Base plan.

Cover Options for You & Your Business

Business Life Cover/Ownership buyout/Debt Protection and Permanent loss of Key Person:

Provides a lump sum payment in the event of the insureds premature death or if they were diagnosed with a terminal illness (less than 12 months to live). Can be used to fund buy-sell agreements, debt repayment commitments or key personnel replacement costs.

Business Trauma Cover:

Provides a lump sum payment in the event of the insured being diagnosed with a covered critical condition. Can be used to fund buy-sell agreements, debt repayment commitments or key personnel replacement costs.

Business Total & Permanent Disability Cover (TPD):

Provides a lump sum payment in the event of the insured suffering a disability which meant they can no longer work again. Can be used to fund buy-sell agreements, debt repayment commitments or key personnel replacement costs.

New to business/Start up Income Cover:

Are Business Income Covers for clients who have been self employed for less than 4 years. The cover provides a monthly injection of revenue whilst the key person is unable to work after the chosen wait period for a maximum of 2 years per claim (insurer specific).

Loss of Revenue/Business Continuation Cover:

A monthly injection of revenue whilst the insured key person is unable to work. Paid after the chosen wait period for a maximum of 3 years per claim (insurer specific).

ACC Restructure

If you’re self employed, restructuring may benefit you.

Most of us are unaware we have options with ACC when self employed and this includes changing the amount of cover we have, how much we pay in levies and how it would cover us in the event of a claim due to an accident.

So how does it work?

ACC CoverPlus automatically provides personal injury cover for self-employed people however its the ACC CoverPlus Extra cover that provides greater flexibility and certainty for self-employed people.

ACC CoverPlus Extra is right for you if:

  • your income fluctuates
  • your personal income is not a true indication of actual earnings
  • your business will still generate income while you’re injured
  • you have not been self-employed for long
  • you want a guaranteed level of lost earnings compensation

Who can apply?

If you work as a sole trader, in a partnership, or have withholding or schedular payments deducted from your earnings instead of PAYE tax, you are considered a self-employed person for ACC purposes.

What does it cost?

ACC CoverPlus Extra levies are calculated in a similar way to ACC CoverPlus levies, based on your previous year’s earnings from self-employment and the levy rates specific to your business activity. In addition the levies also take into account the agreed amount of lost earnings compensation.

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