Income protection provides financial security in times of uncertainty. Ensuring you have income to meet continuing obligations is vital – especially when you have a family, or own a house or investment property. Mike Pero works with a panel of providers that can help protect you and your family in these situations.
If you had an accident or illness that affected your ability to earn, what would happen to your partner, children, business, home or lifestyle? Would you be able to pay the mortgage, the monthly bills and meet your children’s schooling expenses?
Life is not without its risks which is why you should protect your valuable asset – your ability to earn.
Available to employees as well as self-employed, your Mike Pero Adviser can tell you about additional policy benefits covering rehabilitation, occupation re-training and replacement labour. Additionally, ongoing business expenses can be covered for a specified period if you need it.
Agreed value policies typically provide a monthly benefit being a portion of your income. This is generally around 55%. The benefit of an agreed value policy is you know exactly what you will get at claim time. This type of cover is often the preferred option for people who have no trouble supplying earning details.
ndemnity policies provide a monthly benefit of 75% of your earnings immediately prior to any disablement. This type of benefit is often taken up by self-employed people who have trouble providing income details at the time of taking out the policy.
Your Mike Pero Adviser will be able to consider your personal circumstances and advise what is the most suitable cover for your situation.
Sometimes redundancy can come at the moment you least expect it. It’s important to make sure that if you do find yourself unexpectedly out of work – you’re financially ready. Your Mike Pero Adviser can help you insure your mortgage repayments, or up to 40% of your gross income (whichever is greater) in the event that you are made involuntarily redundant.
Mike Pero has access to a panel of mortgage protection insurance providers that offer products for all types of earners – so speak to an adviser today.
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Mike Pero (New Zealand) Ltd Copyright © 2020 All rights reserved | Lending and policy criteria and terms and conditions apply. Content on this website is general in nature and is not a recommendation, opinion or guidance to any individuals in relation to acquiring or disposing of a financial product. Readers should not rely on this content and should always seek specific financial advice appropriate to their own individual circumstances.