That means no income. As well as medical and rehabilitation bills, your everyday bills are still going to have to be paid. That’s where income protection cover comes in.

Key Benefits of Income Protection Cover:

• Monthly payments – designed to replace a significant portion of your lost income
• Death benefit – lump sum payment of three times the monthly sum insured is payable to assist with funeral expenses should a life assured die whilst covered under the Income Cover benefit
• Special assistance at home – if you suffer a disability and require full-time care at home, your income cover benefit will reimburse you the cost of a carer for up to six months (up to certain limits)
• Special equipment or home modifications – if you need to purchase specialised equipment, prosthetic devices or make alterations to your home or vehicle as a result of a disability, your Income Cover will reimburse those costs (up to certain limits)
• Specific injury cover – payment of a monthly benefit for a specified minimum period, regardless of whether or not you return to work within that time frame if you suffer from the following specific injuries:

If your injury prevents you from working for longer than the specified minimum period, the normal monthly benefit will continue to be payable. Specific illness cover – payment of a monthly benefit for a specified minimum period, regardless of whether or not you return to work within that time frame if you suffer from the following specific conditions:

If your disability lasts longer than six months the normal monthly benefit will continue to be payable. The level of income protection cover you choose will depend on your needs and income.

Things you’ll need to consider:

• Do you have mortgage payments to cover?
• How about credit card bills or hire purchases?
• Is your income covering all your regular spending such as groceries and utility bills, or does your spouse or partner work and contribute too?

Your income protection cover options are flexible and can be adjusted if your budget circumstances change.

When your claim is accepted, it’s up to you to decide how to use the money. You may need it to cover bills – such as your mortgage repayments and other bills, or to ensure that your family’s lifestyle is less affected by your inability to work.

The money can also cover rehabilitation and occupational therapy costs, if necessary. I have also had extensive experience in dealing with ACC, so if you are self-employed, I can assist with with lowering your ACC costs which can help cover your cost of your income protection.