Income Protection

Frequently Asked Questions

• How much cover do I need?
  This varies for every person we deal with, the best thing to do is run through the simple planner we have developed.
  You can get started right now by completing the simple enquiry form to the right hand side of this page. We will then come back to you with some additional questions that will help us to establish the amount of cover you need for your personal situation.
• Who can apply?
  
  Usually any New Zealand citizen, permanent resident, or people on a 2 year Work Visa can apply.
• What is the definition of a disability?
  In most cases the definition is, " The inbility to perform your usual occupation for more than ten hours per week".
  Please read your policy wordings for a full definition.
• Am I covered if I'm out of the country?
  Life , Income Protection , Trauma and Total and Disablement cover, usually cover you anywhere in the world 24 hours a day, Health insurance only covers you for treatment in New Zealand.
  Special conditions sometimes apply please check your policy wordings for full details.
• My Insurance premiums are going up, is there an option to make the premiums level?
  Yes, you can now get level premiums for most benefits, call us for more information, we can probably convert existing cover without the need for further health questions.
• How likely am I to become disabled or pass away before age 65 ?
  Five in 10 males are likely to become disabled due to an illness or
  accident before they turn 65, preventing them from working for at
  least a month.1
  Seven in 10 females are likely to become disabled due to an illness
  or accident before they turn 65, preventing them from working for
  at least a month. Of these, nearly a third will still be on claim 12
  months later.1
  One in nine men will be disabled and off work for more than
  12 months before age 65.2
  One in five women will be disabled and off work for more than12
  months before age 65.2
  Fifty-one per cent of males will suffer a critical illness before the
  age of 70.3
  Thirty-three per cent of females will suffer a critical illness before
  the age of 70.3
  Sources:
  1 Davies Financial and Actuarial Limited
  2 Insurance Alert, Winter 2000
  3 GenRe LifeHealth Australia, 2005
• What does specific injury or illness benefit mean?
  Some policies include a specific injury or illness benefit, thsi means you receive a guaranteed payment amount based on the type of injury or illness you sustain, for example a broken wrist might pay you 1.5 times your monthly benefit whereas a cancer will pay 6 months, see your policy for full details and call me if you have any questions.
• What does TPD (total and Permanent Disablement) Booster mean?
  If this benefit is included with your policy, it means that a disability resulting in your not being able to ever return to work in your usual occupation ever again, and you are not in fact working, after a period of usually 12 months they will increase your benefit payment by 1/3. Policy wordings differ please contact us with any questions about your cover.
• Under my monthly disability cover (Income protection or Mortgage repayment cover) it says I have a Total and Permanent Disablement benefit, what does this mean?
  If a life assured has been receiving a total disability benefit for a continuous period of at least twelve (12) months and they are certified by an appropriate Medical Doctor or Specialist as being totally and permanently disabled and Partners Life has accepted the claim, Partners Life will pay a Total and Permanent Disability Benefit of 24 times the monthly sum insured.