Asteron Life Income Protection
- By Willi Olsen
- Updated
Think of Asteron Life’s income protection as a safety net for your piggy bank! It catches you if you get too sick or hurt to work. Pretty cool, right?
Here’s how it works: If something happens that stops you from doing your job – maybe you break your leg or get sick – Asteron Life steps in like a helpful friend. They’ll send you money regularly to help pay for things like food, your house, and other stuff you need.
It’s kind of like having a backup plan for your allowance. You know how you might save some money just in case you need it later? Well, this is like that, but way better because Asteron Life saves you. They’ll help keep your family’s life running smoothly when you can’t work and earn money.
The best part? You don’t have to worry about complicated stuff. If something happens and you qualify (if you get one of the sicknesses or injuries they cover), they’ll start helping you with regular payments. It’s that simple!
It’s like having a superhero guardian for your wallet—always ready to swoop in and save the day when you need it most!
What is Asteron Life Income Protection and how does it work?
Asteron Life Income Protection has your back when illness or injury stops you from working. It provides regular monthly payments to cover up to 75% of your income, helping with everyday expenses so you can focus on getting better—not your bills.
This policy is flexible and built around your needs. You can choose between agreed value or indemnity options, making it a great fit whether you’re self-employed or on a salary.
Life doesn’t always go as planned, but Asteron Life Income Protection is here to help you stay on track when the unexpected happens.
Key benefits of choosing Asteron Life Income Protection
Asteron Life Income Protection is packed with benefits, making it a smart choice for safeguarding your financial future. Here’s why it stands out:
Flexible Premium Options: You can choose between stepped or level premiums, tailoring your policy to fit your budget now and into the future. Whether after affordable premiums today or long-term savings, Asteron has you covered.
Tailored Coverage: One size doesn’t fit all, and Asteron gets that. Their customisable policies allow you to select options that suit your income, occupation, and lifestyle. From agreed value to indemnity options, you can pick what works best for your situation.
Rapid Claims Processing: When life throws you a curveball, you don’t want to be stuck waiting for financial support. Asteron prides itself on efficient claims handling, ensuring you get your monthly payments quickly when you need them most.
Rehabilitation and Return-to-Work Support: Asteron goes beyond financial protection by offering services to help you recover and get back to work faster. This includes rehabilitation programs and personalised support.
Coverage for High-Income Earners: Asteron offers policies that cater to higher income levels, making it particularly beneficial for professionals like doctors, lawyers, and business owners.
With Asteron Life Income Protection, you’re not just buying insurance but investing in peace of mind. It’s about creating a safety net that lets you focus on what matters: recovering and living your life with confidence.
Loss of Earnings vs Loss of Earnings Plus: Which is right for you?
If you can’t work due to illness or injury, Asteron Life Income Protection kicks in after your chosen waiting period (anywhere from 2 weeks to 1-2 years). The longer the wait, the lower your premiums—giving you flexibility to suit your needs.
Asteron Life offers two types of income protection:
1.Loss of Earnings
Covers up to 75% of your actual lost income. Perfect for salaried employees or anyone with a steady paycheck.
2.Loss of Earnings Plus
Pays you the higher of two amounts: 75% of your lost income or the agreed maximum minus any other income. It’s ideal for small business owners or contractors with fluctuating earnings.
Choose the cover that works for your lifestyle—and rest easy knowing your income is protected when life throws a curveball.
Common claim causes for Income Protection from 1 July 2023 - 30 June 2024
Let me break down those insurance claim numbers in a way that’s easy to understand:
Imagine we’re looking at every 100 people who need to use their insurance. Here’s what caused them to need help:
About 53 people (that’s more than half!) needed help because of accidents. These could be things like falling off a bike, getting hurt playing sports, or having a car accident.
11 people needed support because they got cancer and had to take time off work for treatment. That’s about one in every ten people.
10 people needed help because of mental health reasons or feeling extremely tired all the time (that’s what chronic fatigue means). This could be because of things like depression, anxiety, or being so tired they couldn’t work properly.
All together, just these three types of claims make up 74% – that’s almost three-quarters – of all the times people needed their insurance. The other 26% was for different health reasons not listed here.
This shows why having insurance is super important – you never know what might happen, and most claims come from everyday accidents rather than rare illnesses!
Protect your income?
Got questions about insurance or retirement planning? We’re here to help!
Whether you’re curious about protecting your income, planning for retirement, or making the most of your KiwiSaver, we’ve got you covered.
Our proven process is designed to help clients like you achieve—and often exceed—their financial goals.
📩 Let’s chat! Reach out today to take the first step toward securing your financial future.