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Disability Insurance Cover

Provides a lump-sum payment if you are totally and permanently disabled and can't work. Disability insurance cover gives you financial assistance when you need it most, to spend any way you choose.

Why do you need Disability Insurance Cover?

If you become completely and permanently disabled through an accident or an illness, you may receive limited ACC cover and a basic sickness benefit.

Would this be enough to cover your current living expenses and allow you to plan for your future?

Probably not !

In addition to losing your income, you may be facing extra costs to assist with your daily living, whether it's alterations to your home or paying for the care that you may need.

A lump-sum payment will allow you to pay off debt and set yourself up for the future. You will have the financial freedom to live your life to its fullest potential and to make your own choices about the care or treatment you require.

Disability Cover is simple because it is payable irrespective of what has happened to you, this means that if you are completely and permanently disabled and unable to work, your cover will be paid, regardless of what injury or illness you may have suffered.

You can insure against your chosen occupation, which means that you will be paid if your disability is such that you can never work again in that field (available for most occupations) or you can choose to insure against the possibility of never being able to work again in any occupation for which you are suited.

Some of the features available are

  • Your benefit is not offset against ACC payments. The cover can pay you the full benefit regardless of any ACC payment, putting more in your pocket when you need it most.
  • Additional cover for a range of 'lifestyle events' e.g. if you get married, have a baby or buy a new house etc, which allows you to keep your insurance up to date with your changing lifestyle, regardless of any changes to your health.
  • You can 'Accelerate' your benefit against your Life Cover – at claim time your Life Cover will be reduced by the amount of your claim which will reduce your premium.
  • Options are available to 'buy back' your lost Life Cover. At a time when your health has been severely affected, you have this opportunity, giving you and your family added financial security at a time when it would be very difficult to get more life insurance.

To discuss Disability Insurance or any of your other insurance needs please phone Phil Sedcole on 07 578 3863 or Freephone 0800 867 323.

Did you know?:

Stroke is the major cause of adult disability in New Zealand. 8,000 adult New Zealanders suffer a stroke each year (a third of which are fatal). There are 56,000 stroke survivors in New Zealand, many of whom have disability and need significant daily support. Each year a quarter of all stroke victims will be under retirement age. (Stroke Foundation of New Zealand, 2008)

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