Disability and Trauma Insurance – the serious stuff

Written By Kim Manunui

While we go about insuring our lives and income so others are taken care of if something happens to us, there’s also our own needs to think of in the event we are no longer able to function as we once did.

As a stand-alone, rider or accelerated benefit added to a life package, including trauma and disability insurance should be a serious consideration in any good insurance package.

It means if we’re met with a life changing event either through injury or illness then we can continue to function in a manner we’re used to financially, so what’s the difference –

Total and Permanent Disability ( TPD )

This is where we’re struck with a serious injury and while ACC will play its part, TPD goes further and will pay a lump sum that can be used to cover things like mortgages, home modifications. facilitate lifestyle changes and ongoing care costs.

Trauma, Critical Illness

Covers you and can include your family, for a vast array of serious illness and medical events or injury and pays a lump sum to cover the cost of medical treatment, procedures and rehabilitation so you can concentrate on recovery while the financials are taken care of. Not to be confused with health insurance covered in next weeks column, its designed to get you back on your feet and can cover recurring events based on the type and severity of illness or injury.

Amounts of cover and wait periods can be tailored to suit with some benefits starting from new born to age 100 as long as premiums are paid and can cover to include just own or any occupation and can cover employed, self-employed, homemakers and students alike.

The key difference lies in the trigger for the claim. TPD is about permanent incapacity and loss of earning ability, while trauma is about surviving a major health event, regardless of long-term work prospects. Many people choose to hold both types of cover to ensure they are protected for a wide range of scenarios and typically as part of an overall package.

For more on the above, click the link below.

Kim Manunui

Hi, I’m Kim and I work with a great team to help individuals, as well as small and not so small businesses get their message, product and services to the world using digital media and creating wonderful websites that don’t cost the earth.

I was born in Canada, and grew up around Vancouver and the mountains of British Columbia. My love of pristine environments led me to New Zealand and eventually to the mountains, lakes and rivers of the central North Island which is home. My family’s heritage is here, and it’s from here that Korio traverses the planet.

The digital world is never static and neither are we.

And I say ‘we’ because I work with an awesome group of talented people who I gather together as required to complete a project.  Whatever your business, not-for-profit or individual needs are we gather the best team to get the job done.

Collaboratively we are creative, share sustainable values and work hard for great outcomes because that’s the buzz of satisfaction that drives us.

If you have an audience and market to reach, we can make that happen. Creative design, words that work and smart behind the scenes stuff that cuts through the online noise. We’ll design your website and then build it. We’ll manage the content as well as all your hosting needs. We can handle your online advertising so you get noticed,
and we’ll manage your social media presence so you get the clicks, likes and engagement to grow your business. All within the budget you set, because none of this needs to cost the earth.  And the job doesn’t stop when your website goes live. We are your virtual business partner.

https://www.korio.co.nz
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Income protection, mortgage insurance and ACC