Secure your income for a rainy day

Sunday 11 July 2004

There are so many what-ifs to consider in financial planning that obvious things such as income can fall through the cracks.

By The Landlord

It is easy enough planning to spend the income, but people assume getting it in the first place is a given.

Kiwis are generally optimists and few include the chance of serious illness or accident in their plans.

So people are often unaware of something like income protection insurance.

That's surprising, because it has been on the market here for years.

For Auckland insurance broker Ian Wallace, who is very experienced in this field, what's more surprising is that people easily accept the need for life insurance, but are statistically more likely to be disabled or ill and miss work for more than three months than to be killed or die prematurely.

So what is income protection insurance? Theoretically, everyone who needs their income needs to protect their ability to earn it.

Consider how long your boss will continue to pay you if you are off sick for a long time.

Read More - Opens in a new window
Commenting is closed

Property News

Key reform will only protect bad tenants

Getting rid of “no cause” termination notices only serves to protect bad tenants and will have a negative impact on the broader community, not just landlords, according to landlord advocates.


Demand challenges for commercial sector

Vacancy rates in the commercial property sector are set to increase as changing economic conditions dampen demand.


LVR loosening likely - ANZ

LVR restrictions were never meant to be a permanent feature of New Zealand’s housing market and ANZ economists argue that some further relaxing of them could soon be on the cards.

Site by PHP Developer