Income Protection

Pays part of your income if you can’t work because of an illness or injury.

Maximum Monthly Benefit

$30.000
You can choose a monthly benefit up to a max 75% of your current pre-tax income or max $360.000 per annum.

Maximum Monthly Benefit

$30.000
You can choose a monthly benefit up to a max 75% of your current pre-tax income or max $360.000 per annum.

Maximum Monthly Benefit

$30.000
You can choose a monthly benefit up to a max 75% of your current pre-tax income or max $360.000 per annum.

Maximum Monthly Benefit

$30.000
You can choose a monthly benefit up to a max 75% of your current pre-tax income or max $360.000 per annum.
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Income Protection Insurance

Income Protection Insurance is all about taking care of your most valuable asset – you, and your ability to earn an income.

Compare Income Protection Insurance

Our dedicated advisors help you find and compare the best income protection cover, benefits and optional extras available.

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No Surprises

We take the time to get to know you upfront by asking health and lifestyle questions – getting your approved for Income Protection Insurance. This results in cover that is tailored to you, providing you and your loved ones with greater certainty in the event of a claim.

Best Policy, Best Price

Compare quotes now from NZ's top insurers​

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AIA Life Insurance NZ
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Income Protection Features & Benefits

Indexation Protection

To help protect you against inflation, Your monthly benefit will increase every year by the same percentage as the New Zealand Consumer Price Index (CPI). Your premiums will be adjusted accordingly with these increases.

Dedicated Claims Support

If you need to make a claim, you’ll be assigned a dedicated claims consultant who will support you throughout the claim process - to help make the claim as easy as possible. You'll be able to focus on what really matters to you, and we'll help take care of the rest.

Best in New Zealand

LifeCovered is here to do the hard work for you: compare the best policies and companies - negotiate and find the best deal.

Your Cover Options

Income Protection Insurance in New Zealand is flexible. Here are the most common features and benefits that you can choose from, when applying for cover:

What is Income Protection Monthly Benefit?

You can choose a monthly benefit up to a max 75% of your current pre-tax income or max $360.000 per annum.

What is Waiting Period?

Waiting period is the length of time between you becoming disabled and when you start receiving benefit payments.

Most income protection insurers in New Zealand offer a waiting period of 4, 8,13, 26 and 52 weeks. Some also offer 2 weeks waiting period and 104 weeks.

What is Benefit Period?

The Benefit Period is the length of time that your Income Protection monthly benefits will be paid to you and begins once the Waiting Period has expired.

You can choose a Benefit Period of 2 or 5 years or until age 65 or 70.

Built in benefits

Built in benefits

The Benefit Period is the length of time that your Income Protection monthly benefits will be paid to you and begins once the Waiting Period has expired.

You can choose a Benefit Period of 2 or 5 years or until age 65 or 70.

Built in benefits

The Benefit Period is the length of time that your Income Protection monthly benefits will be paid to you and begins once the Waiting Period has expired.

You can choose a Benefit Period of 2 or 5 years or until age 65 or 70.

Why LifeCovered?

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Our team of expert advisors are available to offer you advice when you need it.

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Frequently Asked Questions

Income Protection (IP Cover) is a Life Insurance product which is designed to pay regular monthly payments for a specified period to replace max 75%  of your income when you can’t work due to a serious illness or injury.

Income Protection premiums are generally tax-deductible. 

The IRD allows you to claim the cost of income protection premiums, if the monthly benefit is taxable.

If you have a policy that includes another life insurance product, you may only claim a tax deduction for premiums paid for the Income Protection component.

Each policy defines how long you can be on a benefit. Usually 2 or 5 years, or until you are 65 or 70 years

You can apply for IP Cover by obtaining a quote online or by speaking to one of our registered financial advisors over the phone for personalised advice.

Income Protection Brochures and Policies