Your ability to earn an income is likely to be your largest asset. What would you do if that ability were lost?
Income Protection Insurance
Your largest asset is likely to be your ability to earn an income. Multiply your current earnings by the number of working years you have left and then make an allowance for inflation and pay increases, it is likely that you will find the figure is many times the value of any other assets you have.
In the event of an accident, you are covered by ACC. If the inability to work is due to illness rather than accident it is likely that you will become dependant upon your savings and finally social welfare. Protecting your income is protecting your lifestyle.
Total and Permanent Disability
A lump sum payment in the event that you are totally and permanently disabled and unlikely to ever be able to follow a career again for which you are reasonably suited by training or experience.