Every year over 50,000 New Zealand households have someone in the family who is unable to work for 3 months or more. ACC covers accidents, but it may not replace all your income and it can’t help if you become ill. Which is why protecting your income with Income Protection Insurance is so important.
If you have Income Protection with us we’ll provide you with a monthly payment which you can use for whatever you need. Whether it simply helps to cover your bills, groceries, and rent or mortgage or helps pay for alternative treatments.
You can choose the plan that best suits your and your family's needs, and make sure that you reduce the stress as you recover from your illness or injury.
You choose the monthly payment amount that will be right for you, either 60% or 75% of your current average monthly Income (before tax) up to a maximum of $12k per month.
You can choose how long you want payments to continue for after you’ve had to stop work - either 6, 12, 24 or 36 months.
You also have a choice on how long you wait for your first payment (either 30, 60 or 90 days) from the time you are unable to work.
Apply online and you’ll receive 10% off your first year's premiums.
You have to be aged between 18 and 59, and be either a NZ citizen or a NZ permanent resident to get a policy.
You need to have been in paid employment for more than 30 hours a week in NZ for the past 2 years; either as an employee or self-employed. You can have changed employers during this time, as long as the gap between employers wasn't more than 30 days.
Depending on your occupation we may need to talk to you before we can give you a quote, and in some cases we can't provide you with cover at all. Contact us if you can't find your occupation (on the quote page) or if you'd like more information. Be assured however, we can provide cover for most people.
You can pay your Pinnacle Life premiums monthly, six-monthly or yearly. We prefer it if you pay by direct debit, however we also accept internet banking/automatic payment, cheque (for six monthly or annual premiums only), or credit card. When paying via credit card, a charge of 3.95% is added to your premiums.
If you have income protection, we suggest you let us know when your income changes, as you want to make sure that your level of cover is also changed accordingly. If you let us know within 60 days of your income increasing we can usually increase your cover without requiring any further medical information. We recommend you review your level of cover regularly, but particularly when you have significant changes to your income levels.
Why do I need income protection insurance?
If you are unable to work due to illness or injury, our income protection cover can help replace your income, so that the bills can still be paid, and stress on the family is reduced while you recover. While ACC may replace some of your income if you have an accident, they may not cover enough of your income, and doesn’t cover you when you can’t work due to sickness.
We can show you what insurance people planning for a similar future have asked about.