You're happily single
Income Protection insurance pays you a monthly amount if you are unable to work, due to illness or injury.
It means that while you can’t work, you can still have money coming in, so you can keep on with your life even though you’re not earning.
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 you and your family's needs, and make sure that you reduce the stress as you recover from your illness or injury.
Thinking about what life stage you’re at might help you get started if you’re stuck wondering what you need. Choose the option that best fits what you want to plan for, we’ll then let you know what other people planning for a similar future have asked for quotes on.
If you have an income protection product elsewhere already, we suggest you talk to us before taking out another policy, as you may not be able to claim on both policies. If it comes time to claim, and you receive income from other sources eg ACC or another government agency, this will be offset against your income protection payments.
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.
We do not accept weekly or fortnightly payments.
If you have income protection, we suggest you let us know when your income changes, so that you can change your level of cover 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.
If you are unable to work due to illness or injury, our income protection cover can help replace your lost income, so that the bills can still be paid, and stress on the family is reduced while you recover.
In NZ we are lucky to have ACC, however, ACC doesn’t cover you when you can’t work due to sickness. Statistics show the most likely reason that you may not be able to work for an extended period of time is an illness. ACC will pay a maximum of up to 80% of your income as weekly compensation if you’re unable to work due to an injury.
The maximum cover that Pinnacle Life can provide under our Income Protection Cover is 75% of your income.
If ACC are replacing 80% of your income, your income protection cover won’t top you up to 100% however, if you are receiving less than 75% from ACC, we may be able to top you up to 75%. Any income that you receive while you are off work, whether it is from ACC, WINZ or another insurance policy, will affect our payments to you.
We can show you what insurance people planning for a similar future have asked about.Help me choose