This might suit you if…
- you’d like financial security in case you suffer a serious disablement, including a disability that results in you being unable to ever work again
- you need the flexibility to tailor insurance cover to your individual needs
- you’d like the freedom to cover your financial commitments as you choose.
Here’s what you get:
- A lump sum payment if you suffer a serious disablement, including a disability that results in you being unable to work ever again.
- A partial payment if you suffer the total and permanent loss of the use of one hand or foot, or sight in one eye.
How much does it cost?Show more
How much your disability cover costs depends on a number of factors, including:
- your age
- smoking status
- level of cover
- the options you have selected.
Talk to an adviser who will develop a plan to suit your budget and advise your individual premium cost.
The benefits of disability cover
Disability cover provides financial support for you and your loved ones. If you suffer serious disablement, such as a disability that results in you being unable to work ever again, disability cover can provide you with a lump sum payment. The key benefits are:
- a lump sum payment that you can use however you choose
- partial payment if you suffer the total and permanent loss of the use of one hand or foot, or sight in one eye
- financial support (the amount of which depends on the level of cover you choose) during a difficult time.
Why do I need disability cover?
If you were to suffer serious disablement, not only are you facing a complete lifestyle adjustment - from adapting your home to ongoing medical costs - but you may not be able to work again. This can add financial worries to an already unsettling time.
With disability cover, you’ve got financial support, leaving you to focus on more important things, like spending time with your loved ones and getting on with enjoying life.
Consider disability cover if you have a mortgage and/or people who financially depend on you - it can help to ease their financial burden or maintain their current living standards.
What can I use the lump sum payment for?Show more
It’s completely up to you to choose how best to use the payment. You could:
- pay your mortgage
- cover medical bills
- make essential modifications to your home.
Disability cover in real lifeShow more
Jane1 loved flowers from an early age so when the children left home, Jane started a small florist business to keep busy. A few years later her husband David died unexpectedly. He had Life Cover from an AMP work scheme, but it didn’t cover their debts. Suddenly the florist business went from a hobby to an essential income provider.
Fortunately Jane’s shop was going well, and by working longer hours and marketing through social media, she soon lifted the profits to meet her financial needs. Determined to live without worrying about money, Jane contacted David’s AMP adviser.
Together they settled on a cover plan that gave Jane the peace of mind she needed. A few months after her 50th birthday, Jane began to struggle with the physical side of the business. Her joints had become increasingly sore. She was diagnosed with arthritis and was unable to continue working as a florist. Jane’s Trauma Cover did not include a benefit for arthritis, and it would be 15 years before she’d get superannuation. Fortunately, her AMP adviser had recommended Total and Permanent Disability Cover. Jane’s arthritis was so severe that she qualified under her policy for a lump sum payment to spend however she liked. It was enough to clear her debts and she was able to hire a florist. This meant Jane was able to keep the business she loved, and continue to watch it succeed.
How AMP helped Kiwi families in 2014Show more
For over 150 years, AMP has been protecting families, helping them to financially protect their way of life, no matter what happens. In 2014, AMP provided financial assistance to Kiwi families through their disability cover2:
- $634,708 was paid to New Zealand families.
- $126,941 was the average claim paid.
- $245,120 was the highest claim paid.
Apply for disability cover
Talking to an experienced adviser is the best way to find the right level of cover for you. They can work with you to understand your individual circumstances and take into account your budget to suggest a tailored plan.