What is income protection?
Income protection insurance cover enables you to protect your income.
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Frequently asked questions
Some frequently asked questions about income protection
Insurer overview
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What is an income protection waiting period?
When setting up your income protection, you`ll need to choose a waiting and payment period.
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Income Protection Insurance
This insurance is simple, but powerful. As the name suggests, Income Protection protects a percentage of the money you normally earn.
Workability Insurance
Workability Insurance will help you to get back on your feet and earning again, if you're unable to work due to sickness or injury.
Protecting your biggest asset with Income Protection
First thing first, right off the bat: What's your biggest asset? Many people would say their house, their business, or their car. The reality is all these items depend on an even bigger asset: your ability to earn an income.
Saving for a home? How to protect your homeownership dream
Insurance - it's not just for the milestones you've already achieved; it's also the sometimes-winding journey it takes to get there. Is homeownership on your wish list, for example? With rising prices across New Zealand, buying a first home has never been more challenging, and unfortunately, it's not getting any easier.
Why get income protection insurance when we have ACC?
Many people in New Zealand tend to overlook income protection insurance, thinking ACC would step in anyway if they were unable to work. So, to cut through the confusion and help you best protect your financial future, here are some key things to know.
Seven steps to a happier you
To help you make mental health a priority for the rest of the year and beyond, we've collated some great tips from NZ's top insurers.
What we've learned about remote work
With remote/hybrid work becoming the norm for many workplaces, we've all learned a lot about working remotely since the pandemic started. So, we put together some first-hand tips from our team at LifeDirect, on how to make working remotely work for you.
Inflation, rates and more: 2022 and your cover
There's never a dull moment in the economy, but 2022 has been a particularly big year on that front. Looking for tips to manage your cover in times of increasing costs? Here are some helpful insights from Senior LifeDirect Adviser, Ben Hindin.
What we've learned about remote work
With remote/hybrid work becoming the norm for many workplaces, we've all learned a lot about working remotely since the pandemic started. So, we put together some first-hand tips from our team at LifeDirect, on how to make working remotely work for you.
Some creative ways to boost your income
Is the rising cost of living making it challenging to achieve your financial goals? You may be looking for creating ways to boost your income (that don’t involve asking for a pay rise or taking on a second job).
Keeping cover and managing costs in pricey times
With the increasing cost of living, it's natural to look for ways to reduce your expenses. But when it comes to reviewing your insurance, it’s important to remember that it’s not just a cost: it’s a valuable tool to create financial resilience.
Five reasons to get income protection insurance
When it comes to preserving your financial wellbeing, income protection insurance can be a powerful tool, as it provides a regular income stream if you’re unable to work after the period of time specified in your policy, due to illness or injury.
Protecting your income: do you have a plan B?
Life is unpredictable, and unexpected turns – like accidents or serious illnesses – could impact your ability to work and earn a living. Do you have a plan B for those circumstances?
Why your income is your most important asset
If you were asked to name your most valuable asset, what would you choose? Your ability to earn throughout your life is a huge asset. Read on to learn more.
Why your income is one of your most valuable assets
Are you underestimating the power of your income? Find out why your income is one of your most valuable assets.
Adviser Corner: Factors to consider when choosing income protection insurance
To talk about income protection insurance and the significant benefits this type of insurance can offer, we spoke with our senior insurance adviser, Tony McCombs.
Building emergency funds and the role of income protection
Life can be unpredictable, which is why it’s so important to be prepared for unexpected challenges. Building an emergency fund and having income protection cover are two key strategies that can provide you and your loved ones with a financial safety net.
How Long Does Income Protection Pay You For?
Life can be unpredictable, and a sudden illness or injury can disrupt your income. For Kiwi, whether in busy Auckland or rural South Island, income protection insurance offers peace of mind by replacing up to 75% of lost earnings during disability. But how long do payouts last?
What is a Wait Period in Income Protection?
Figuring out income protection doesn’t have to be tricky, even with terms like “wait period.” This is the time after you’re unable to work - due to illness or injury - before your insurance payments start. It’s a way to keep premiums low while focusing on genuine long-term needs.
Self Employed? Here's How to Protect Your Income in NZ.
Being self-employed in New Zealand means embracing freedom. However, with over 300,000 self-employed Kiwis contributing to the economy, it also means facing unique vulnerabilities, like no employer-provided sick leave or holiday pay when health issues arise. Income protection insurance steps in as a tailored solution, here's how.
Do I Need Income Protection if I Have Savings or Sick Leave?
In New Zealand's dynamic job market, where many enjoy employer perks like sick leave or have built solid savings, the question of whether income protection insurance is necessary often arises. We explain why income protection could benefit you.
Wondering how much of your income you can cover with insurance?
Income protection insurance in New Zealand is designed to replace part of your regular income if you’re unable to work due to illness or injury. You can’t usually cover 100% of your income - most policies cover up to around 75%, sometimes less after tax and offsets. The idea is to give you a financial safety net while still keeping an incentive to return to work.
