“You can be young without money, but you can’t be old without it”
– Tennessee Williams
Income Protection Insurance
Imagine for a moment, that in the corner of your lounge, there is a shiny new ATM. This is a magic ATM. You just have to pull a lever and it will give you thousands of dollars every week. If this machine existed, and you had an option to insure it, so even if it broke down it could be repaired and keep paying out…you’d probably choose to look after it.
Your greatest asset is your good health, which provides you with the ability to get up each morning to go and earn income for yourself and/or your family. It’s your income that determines the lifestyle that you live. Whether that’s regular family camping trips in Aotearoa or the annual big trip overseas. Kids sporting activities, or weekends dining out.
Many of your short term, and long-term goals will be contingent on your ability to earn and save an income.
You do not have a crystal ball, and you cannot know what the future holds, but you can prepare for certain eventualities. Income Protection Insurance allows you to insure a percentage of your income, in the event you are medically unable to work. This could be due to an accident, or medical illness (including Mental Health, which has become one of the main reasons to claim Income Protection Insurance).
Income Protection Insurance is a monthly payment from the insurance company, directly to you. It will continue to pay/support you even if you are returning to work in a part-time capacity, meaning you don’t need to force a return. We can get injured/sick quickly, but recovery can be more gradual, meaning a partial return to work is very common.
There are numerous types of Income Protection Insurance available. The Insurance Basket will take the time to understand your situation, so we can match you with the appropriate type of Income Protection Insurance for your situation.