ACC Self Employed Insurance Options

Date: 29th August 2011

ACC has a couple of charming little lost earnings compensation insurance policies available to self employed people. Now the names of these policies alone will not excite you but here is a little run down on the differences & benefits behind ACC CoverPlus (CPlus), WorkPlace and ACC CoverPlus Extra (CPX)….. yep, there’s ‘extra’.

Essentially the ‘extra’ in CPX means that:

· You can negotiate a prearranged cover amount rather than the plain old 80% of your income – which could change from year to year incidentally

· This amount is set and can not be changed…wahooo!

· Cover is tailored to meet the individuals needs within a partnership

· Once agreed the sum insured is guaranteed and is paid regardless of ongoing earnings or comparisons of earnings in different years. There is no requirement to prove a financial loss….phew, nice and simple.

· ACC continue to pay 100% until you are declared fit to get back to work.

· If you are newly self-employed the level of cover can be based on future contracts that indicate guaranteed income or a cheeky ACC formula

· Whichever option you choose, ACC will provide assistance with treatment and rehabilitation costs.

All in all, this is boring but a pretty essential conversation and consideration to make. We have insurance experts and advisors on hand that we can introduce you to if you would like, just drop us a line

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