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Does ACC Cover Everything?

You’re self -employed and each year you pay your compulsory ACC cover, right? So, why would you need Private Income Protection Cover as well..?

There are actually a lot of situations where ACC won’t kick in to help you out. ACC will ONLY cover injuries. This means you’re not covered if you can’t work due to:

  • a pre-existing condition
  • general ‘wear and tear’
  • and most commonly, if you get sick or diagnosed with a chronic illness.

For self-employed people, ACC Cover Plus is the default scheme you will be automatically signed up to. This will pay up to 80% of lost earnings based on your last year’s income. However, if you get sick and can’t work, ACC will pay you absolutely nothing! That’s a scary prospect, but it can be easily remedied.

ACC Cover Plus Extra is another ACC option; one you should seriously consider if you are self-employed. It allows you to set your own level of cover, which could lower your annual levy. At AdviceKiwi, we can help you to reduce your outgoings on ACC Levies by ensuring you are in the right classification code for your occupation, and by restructuring your sum insured with ACC Levies by tying it in with Private Income Protection.

Private Income Protection will provide for you if you’re injured, become disabled, become sick or diagnosed with a long-term illness. It’s a no brainer! Often we can tie to the two together at little or no extra cost to what you are currently spending On ACC!

ACC and Income Cover can be a minefield to navigate and each person’s situation is unique. A professional adviser can help reduce your costs while maximising your cover, and guide you as to what you’re actually paying for when you pay that ACC bill.

Contact Joel at AdviceKiwi for honest, personalised advice tailored to you.

This article is not personalised advice. A free disclosure statement is available on request.

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Merry Christmas from everyone at AdviceKiwi

By Joel McLachlan • 20 Dec, 2022
It's almost Christmas! Joel, Steffi and the team at AdviceKiwi want to wish you a very merry Christmas and a Happy New Year. Our office closes on Wednesday, 21th December 2021 and reopens Friday, 20th January 2022. Should you need to contact us urgently during this time, please do not hesitate to email Joel directly - joel@advicekiwi.co.nz Should you need to contact your insurer during this period please use the relevant Free Phone number below: HealthCarePlus: 0800 600 666 AIA New Zealand: 0800 500 108 nib nz limited: 0800 123 642 Southern Cross: 0800 800 181 Fidelity Life: 0800 900 167 Asteron: 0800 737 101 Partners Life: 0800 145 433 Cigna: 0508 464 999

ACC Cover Plus Extra and Private Income Protection

By Joel McLachlan • 14 Jun, 2022
Don't be like Jim. We love meeting with Self Employed people to help them structure their ACC levies and their Private Income Protection to make sure they're adequately covered, should they become disabled and unable to work. If you are Self Employed and you have haven't looked into ACC Cover Plus Extra; we would love to meet with you to go through your options. Send us a message, we'll buy you a coffee https://sharethis.video/will-acc-actually-cover-you/joel-mclachlan/?cache=62a7e0c5e37ce

Jennifer – The Unexpected Trauma Claim

By Joel McLachlan • 07 Apr, 2022
Jennifer (not her real name) had Life and Trauma cover which she took out with her then husband, a few years before we became her insurance advisers. Jennifer wanted to meet with us to talk about taking out new policy just for herself, as she and her husband had been divorced for a year, but their current covers were still jointly owned. Through the process of reviewing Jennifer’s existing policy, she mentioned that she had a heart attack which was trigged through the stress of her relationship breakdown. Her previous adviser had told her that she didn’t have cover for such an event – but that didn’t sound quite right to us. We had Jennifer provide us with the medical information, and we then approached her insurance company on her behalf. The insurer came back within a few days later and confirmed that Jennifer was in fact entitled to a payment of $50,000 under her Trauma Cover Policy. Whilst it is never nice to go through such a traumatic medical event, Jennifer was really appreciative that we had her best interests at heart, and took the time to ensure she got the funds which were rightfully hers. The funds enabled Jennifer to take time to make decisions about her next step in life, without having to worry about her immediate financial future. If you haven’t heard from your advisers in a while – send us a message. We’d love to meet with you to review your covers, and make sure you have the right types and levels of cover in place for your personal financial situation.
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