Insuring what you value - Abacus Group - income

By: Abacus Group  06-Dec-2011
Keywords: Income Protection

Income protection provides a regular income in the event that illness or injury leaves you unable to work. It is an important way of making sure that while you may lose the ability to work for a living due to illness or injury, you won't lose your income. This is especially important when you have increased financial responsibilities such as mortgages, dependents or a business.

It’s interesting how a lot of people are committed to maintaining car and house insurance payments. And yet, some of us don’t insure our ability to pay for those things. Your income provides you with the ability to pay for the things that are important to you. Are you protecting your greatest asset – your ability to earn?

Who needs it

An important consideration is… how long could you maintain your lifestyle without an income? It’s worth looking into income protection if your quality of life depends on your income.

Many people do not realise over two thirds of disabilities are caused by illness and consequently no ACC benefit is payable (AIA source Davis Financial and Actuarial 2005).

How much does income protection cost?

The following things influence premiums: occupation, age, gender, your health status, the level of required cover, the agreed waiting period and payment term. Our specialists can work out some options for you.

Keywords: Income Protection

Other products and services from Abacus Group


Insuring what you value - Abacus Group

Abacus has the power to advocate on your behalf to New Zealand’s leading insurance companies and negotiate the best possible deal to meet your needs. After you’ve worked through a needs analysis with them they will be able to provide you with the best solution to meet your needs. The best way to find out which insurance provider is best for you is to talk to one of our specialists about your situation.


Insuring what you value - Abacus Group - products

We also meet with you on an annual basis to review your changing needs and to ensure your financial risk management plans align with your circumstances. They identify the best solutions to meet your needs and they advocate on your behalf to the various insurance companies. One of Abacus’ specialists meets with you face-to-face, to listen to your goals and to conduct a needs analysis.


Insuring what you value - Abacus Group - life

Life insurance is the only insurance you don’t buy to protect yourself – you buy it to help your family and dependents cope financially when you are not around to provide for them. Cost depends on the following things: your age, health and gender; the amount of cover you choose and whether or not you smoke. Life insurance is essential if your death is going to negatively impact on someone else financially.


Insuring what you value - Abacus Group - trauma

It pays a lump sum or a regular income when you are diagnosed with specified illnesses or injuries, making it easier for you and those closest to you, to cope financially. A lump sum payment could allow you to pay off your mortgage and debts or, if you’re in business, ensure your business can continue to run smoothly.


Insuring what you value - Abacus Group - health

Health insurance gives you choice and control and ensures you have prompt access to the best healthcare services when you need them. Your age, health status, the types of benefits you choose, along with the level of excess, will influence the cost of your premium. Full cover for cost of surgeons and anesthetist, and hospital charges in relation to stay required for medical illness or surgery.