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Protecting Income - ACC or YOU?


ACC (Accident Compensation Corporation) is a wonderful scheme and very much unique to our own New Zealand.

But is there a chance that we’ve come to rely on it for everything that goes wrong?

A recent media report (Radio New Zealand News 24 August 2017) indicated that ACC has revised the number of claims it refuses to about 90,000 a year. The same report indicates that as many as 300,000 people a year could be missing out on ACC cover, treatment or support because their claims were being declined!

So how do we protect income if ACC is not available to us?

There are a few ways and let’s look at some of them:

  • Income Protection Insurance monthly benefit – up to 75% of gross income at claim time

  • Mortgage Repayment Insurance monthly benefit – up to 40% of gross income or 110% of the monthly mortgage installment at claim time

  • A combination of the first two options

  • Trauma or Critical Care Insurance – simply a lump sum chosen by you and payable on occurrence of a trauma or critical care event as specified. This is not directly related to loss of income but might be a multiple of income chosen at inception

  • WINZ sickness benefit – usually less than the unemployment benefit

So, to be REALLY sure – why not talk to Thompson McNeill about the options as they apply to YOUR unique situation?

(03) 2818605 or jerome@thompsonmcneill.co.nz


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