Income Protection
A financial safety net that supports your lifestyle, your family, and your future
Income Protection
A financial safety net that supports your lifestyle, your family, and your future
Not every insurance need fits neatly into a standard category - and that’s where we come in. At C&R Insurance, we serve clients across Central Otago and Southland with straightforward, people‑first advice, taking the time to understand how you work, what you rely on, and what financial pressures you’d face if illness or injury kept you off the job. Because we believe insurance should be personal, we come to you and value face‑to‑face conversations that help us tailor cover to your real‑world needs.
We assist in helping individuals, families, and business owners navigate the complexities of Income Protection — whether you’re self‑employed, working in a high‑risk trade, managing a rural operation, or simply wanting financial stability if life takes an unexpected turn. As a brokerage, our role is to understand your situation, explore the market, and connect you with policies that offer the right balance of protection, flexibility, and peace of mind.
Protect your earning ability with cover that keeps your income steady through illness or injury. Talk to our team to build an income protection plan that supports you when you need it most.
Income protection for individuals, families, and business owners
Loss of income can create significant pressure for families and businesses, whether it’s caused by illness, injury, or the absence of a key person. We work closely with clients to understand their tolerance for income disruption and build cover that reflects how they live and work. There is no one‑size‑fits‑all solution, so we focus on clarity, flexibility, and responsiveness to ensure your protection genuinely supports you when it matters most.
Income Protection provides a regular monthly payment if you’re unable to work due to illness or injury, offering financial stability when your earning ability is interrupted. While ACC covers accidental injuries, most long‑term absences in New Zealand are caused by illness, making this cover essential for maintaining your lifestyle and meeting ongoing commitments.
Key components of Income Protection include:
Payout amount: Policies typically insure up to 75% of your gross annual income, with monthly maximums depending on the insurer.
Waiting period: The time between stopping work and receiving payments, ranging from 2 weeks to 2 years. Longer waiting periods generally reduce premiums.
Benefit period: How long payments continue — commonly 2 or 5 years, or to age 65 or 70 for long‑term protection.
Who benefits most from this cover:
Self‑employed individuals, who don’t have employer‑paid sick leave and rely entirely on their ability to work.
Mortgage holders and parents, where income stability is essential for household expenses.
Employees with limited sick leave, as statutory entitlements are often insufficient for serious illnesses.
Additional features that strengthen your safety net:
Flexible use of payments, allowing you to cover mortgages, groceries, medical bills, or any other expenses.
Rehabilitation and retraining support, helping you return to work sooner.
Tax‑deductible premiums, with benefit payments generally treated as taxable income.
Recurrent disability protection, where the waiting period is waived if you relapse into the same condition within a set timeframe.
Income Protection is ultimately about safeguarding your financial stability, ensuring you can focus on recovery without the added stress of lost income.