Income Protection & Redundancy Cover Guidance
What Happens If Your Pay Stops?
If your pay stopped, how long could you keep up? Income protection and redundancy cover may help support you through illness, injury, or an unexpected job loss.
Kiwi Cover Match connects you with a licensed financial adviser who can explain what may fit your situation.
Kiwi Cover Match is a referral service that connects individuals with licensed financial advisers. Kiwi Cover Match does not provide financial advice.
Kiwi Cover Match is a referral service that connects individuals with licensed financial advisers. Kiwi Cover Match does not provide financial advice.
Why It Matters
Your Income SupportsThe Life You've Built.
For many households, wages keep everything moving. Income protection and redundancy cover are two different options people consider when they want support if work or earning capacity is disrupted.
Income Protection
Income protection may pay a monthly benefit if you cannot work because of illness or injury, depending on the policy terms and claim assessment.
Redundancy Cover
Redundancy cover may provide short-term financial support if you are involuntarily made redundant and meet the policy conditions.
Support For Ongoing Bills
Both types of cover are designed to help you think about rent, mortgage payments, groceries, utilities, and family expenses if your pay is interrupted.
Simple Starting Point
Start with the bills your income already pays for.
A licensed adviser can help you think through your income, monthly commitments, savings, sick leave, ACC considerations, redundancy risks, waiting periods, stand-down periods, and how much cover may be appropriate to discuss with an insurer.
The right option depends on what you want protected: illness and injury, redundancy, or a combination of both where available.
What An Adviser Can Help Explain
Two Different Covers.One Clear Conversation.
Income protection and redundancy cover are not the same. A licensed adviser can help you understand what each one is for, where they overlap, where they do not, and what conditions may matter before you apply.
Income Protection
Usually focuses on illness or injury that prevents you from working. It may help replace part of your income while you recover, subject to the policy wording and accepted claim criteria.
Illness & injuryThings to know
Common Questions
Questions Workers Often AskBefore Getting Cover.
Income protection and redundancy cover solve different problems. These questions are a good starting point before speaking with a licensed financial adviser.
No. Income protection usually relates to illness or injury preventing you from working. Redundancy cover is different and usually relates to involuntary redundancy. The availability, stand-down periods, exclusions, and claim conditions can be different for each cover type.
Answer
Is income protection the same as redundancy cover?
No. Income protection usually relates to illness or injury preventing you from working. Redundancy cover is different and usually relates to involuntary redundancy. The availability, stand-down periods, exclusions, and claim conditions can be different for each cover type.
Kiwi Cover Match connects individuals with licensed financial advisers who can discuss income protection, redundancy cover, and other insurance options based on individual circumstances.
Take The First Step
Get Matched With An AdviserFor Income & Redundancy Support.
Tell us a little about your situation so the adviser can prepare for the first call and answer the questions that matter to you.