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Income Protection Insurance

Your income is important, and people can worry about losing these regular payments. Our Income Protection Insurance is designed to provide you with peace of mind that you'll still have some money coming in if you are unable to work due to getting sick or hurt. 

Getting the right cover is important though. That's why our products are available through Advisers. They have the knowledge, experience and take care to help you get the right cover.

What is Income Protection Insurance?

Your income is often your biggest asset and losing it can turn life upside down. If you’re unable to work—either temporarily or permanently—because you’re sick or injured, Income Protection Insurance will provide you with money to live on as a monthly payment while you’re not receiving your salary or wage.

Income Protection Insurance benefits

Income support

Pays you a monthly benefit if you’re unable to work because of illness or injury

Rehabilitation & retraining support

Helps you with your rehabilitation and retraining costs

Recurrent disability

Pays you a monthly benefit if you suffer the same sickness or disability within a year

Return to work

Pays you a bonus benefit if you are able to return to work

Family assist

We’ll pay for a nurse or family member to look after you at home for up to 6 months

Accommodation support

Pays for your family to be with you if they live more than 100km away

Disability reset

Allows you to claim again if you suffer a related sickness or injury

Elective surgery

Pays you a monthly benefit if you are disabled due to an elective surgery

Payment while overseas

Pays you a monthly benefit if you are disabled while overseas

Funeral assistance

We reimburse your family up to three times the monthly benefit for your funeral costs if you die

Grief support

Helps with the cost of professional grief support to cope with sudden changes.

Overseas assist

Reimburse you and one support person for travel back to New Zealand if disabled overseas

New parent premium waiver

We’ll pay your premiums for six months while you’re on parental leave

Optional benefits you can choose to include:
Your wellbeing, our priority

With Asteron Life Connected Care, you’ll have access to leading local and global experts. Get the best medical, mental health and wellbeing advice for you and your family at no extra cost.

Find out more here

Other types of cover

Another alternative to Income Protection is Workability Insurance which is designed to support you to get back into the workforce. This is a form of Income Protection without all the bells and whistles. 

Workability Insurance


Talking to an adviser will help you focus on what’s important to you, and it's even more effective with a little preparation.

Use our handy LifeSnap tool to prepare for your conversation with an adviser so you don't have to think on your feet!

Simon Evans had always insisted that Multiple Sclerosis was never going to define him. Thanks to his Income Protection Cover with Asteron Life it never has.

Ready to speak to an adviser?

If you would like to know more about Income Protection Insurance we can put you in touch with an adviser who can explain the different options available.

Speak to an Adviser

Frequently asked questions

How long will I have to wait before my payments start?

When you set up your policy, you’ll decide how long the wait period is before you start receiving payments.  Chat to your adviser about the different options – there’s a 2, 4, 8, 13 or 26 week wait.  In some cases a 1 or 2 year wait period might suit you best.  It all depends on how well you’d cope financially before payments kick in.

Will I get paid if I also receive ACC?   

This may depend on the type of cover you take out.  Asteron Life’s Loss of Earnings cover may top up the amount you receive from ACC. However, everyone’s circumstances are different and an adviser can recommend the best cover for your situation.

Disclaimer: The information provided above is for general information only, it is not financial advice or personalised to your situation. If you would like advice that takes account of your particular situation, please contact your financial adviser. Full details of policy terms and conditions are available from Asteron Life Limited or your financial adviser. Terms, conditions, exclusions and limits apply. If there are differences between the information provided here and the policy document, then the policy document will prevail. Asteron Life Limited and its related companies do not accept any liability in connection with the information provided.