ACC CoverPlus Extra is the smart alternative to these standard ACC products. Here’s why:
Standard ACC Cover Plus
If you’re injured and have to take time off work, you can receive up to 80% of the previous year’s income. So if your income stays the same year in, year out or if last year’s income was good, this level of lost earnings cover should be sufficient.
But what happens if:
- your income fluctuates and last year’s earnings were lower than usual?
- you’re just starting out in your own business and have no income history?
- your personal income is not an accurate indication of your earnings capacity because you’re splitting income with a partner or spouse or you have taken advantage of options to reduce your tax?
ACC CoverPlus Extra
ACC CoverPlus Extra works differently.
It applies to:
* Self-Employed
* Non-PAYE Shareholders
If you’re injured and have to take time off work, you are guaranteed a pre-agreed level of income regardless of how much you earned in the previous year.
This can save you thousands of dollars in levies depending on your profession.
For example an electrician earning $100,000 per year could save around $2,500 per year in levies.
The Reality is..
In over 80% of cases, being off work is due to illness rather than an accident.
If you opt for the ACC levies saving, this could be used to further protect your income with increased cover in areas such as Income Protection or Trauma cover.
