Income Protection – does lifestyle matter?

If your age is between 36 and 39 years old and you work full time, this table is designed to help you to quickly gather required information.

Gender Benefit period Monthly premium
Fidelity Life Asteron Life AMP
36 years old
Female 2 years $36.83 $46.24 $49.99
5 years $46.78 $58.21 $59.85
up to 65 $70.38 $85.30 $79.02
Male 2 years $26.72 $29.48 $35.73
5 years $33.35 $37.09 $41.73
up to 65 $49.09 $54.36 $51.70
37 years old
Female 2 years $38.06 $47.82 $52.44
5 years $49.01 $61.45 $62.73
up to 65 $74.26 $90.60 $81.81
Male 2 years $27.54 $30.08 $36.78
5 years $34.84 $38.65 $43.35
up to 65 $51.67 $56.99 $52.95
38 years old
Female 2 years $38.89 $50.21 $54.90
5 years $50.56 $64.51 $65.65
up to 65 $77.23 $95.21 $85.48
Male 2 years $28.09 $31.19 $38.12
5 years $35.87 $40.07 $45.01
up to 65 $53.65 $59.15 $55.02
39 years old
Female 2 years $40.27 $53.23 $57.76
5 years $52.87 $68.52 $68.63
up to 65 $80.87 $101.24 $88.59
Male 2 years $29.01 $32.64 $39.88
5 years $37.41 $42.04 $46.69
up to 65 $56.08 $62.12 $58.03

As you see – the premiums for your

Income Protection Insurance

for people who are 36 to 39 are very affordable. The table shows you a few things which in my opinion extremely valuable:

Information is shown for men and women, age brackets 36 to 39. Income Protection Insurance benefit is for $3,500 keep in mind the premiums are based on that you would receive $3,500 monthly benefit as your Income Protection Insurance payment after 13 weeks of waiting period. It is important to understand that this information is for information purposes only and should not be treated as a financial advice or advice about how you should structure your Income Protection Insurance.

Income protection quote






Monthly Income

In order for me to be able to provide you with your personal no obligation quote please use a form on the left and email to me:

  1. Your name
  2. Your date of birth – all income insurance premiums are based on age.
  3. Your occupation- this is also very important, just think about risk.

For example, let me compare “arborist” and “accountant” from the risk point of view “accountant” is a less risky job however (to make it even more complicated) if the accountant has “black belt” in Karate then his application is going to be seen by the underwriters in a slightly different way: where even he or she has a low risk occupation yet the situation changes due to sport activity.


Your Income protection depends on your activity

Any sport, any lifestyle – your income is protected

In my experience majority of New Zealanders would struggle financially while they are waiting for their Income Protection Insurance starts to pay them.

Think about yourself and your financial situation – what if you do not receive your income for the next three months – would you be able to coop? Would you be able to pay all incoming bills and be financially comfortable? If your answer is yes then this table and the information in it for you however if you say that you need to plan your Income Protection Cover taking into account 6 weeks or 8 weeks please request your personal quote.

When you choose the right Income Protection Insurance for yourself think about your lifestyle and your sport activities.

For instance if you are keen biker, you might want to think about the policy which is going to provide you with some special events (triggers) where the policy starts to pay disregarding the waiting period in our table it is 13 weeks. On the other hand if the sport you play is chess (yes it is in fact sport J then the policy you should think about should be based on the amount you would receive in the event of a claim, even sound wrong there policies which would pay more in comparison. Please let me know if you want to know more about it.

When you think about Income Protection Insurance benefit period (2 years, 5 years or up to 65 years old) think about  a few statistical facts:

  • In New Zealand a typical Income Insurance claim period is less than 2 years for more than 80% of claims.
  • Only 16% of Income Protection Insurance claims in New Zealand last less than 5 years.
  • Interestingly to note that only 4% of Income Protection Insurance claims in New Zealand do last longer than 5 years period.

In my job, statistical data is used all the time and if you follow me in the above data it means that 96% of Income Protection Insurance policies should be written only with 5 years benefit but what if you fall between the crack and have found yourself among the people who represent the 4% of claims?  Exactly…

If you are 36 today, think about your Income Protection Insurance in the following way:

($3,500 x 12) x 29 = $1,218,000

This is the amount of your benefit received by you without inflation or any other factors. If you a male the premiums for this type of Income Protection Insurance with the highest premiums in accordance with the table are from Asteron and for $54.36 monthly (at the time of creation of the table, meaning the premiums do change from time to time).

If you are a lady:

($3,500×12) x 29 = $1,218,000

Would only cost you from the cheapest income protection policy in New Zealand provided by Fidelity Life $70.38 monthly.

In my opinion Income Protection Insurance in New Zealand should be treated as a “compulsory” for the lack of a better term financial solution.

If you are shopping for Income Protection Insurance – let me know and I would be delighted to provide you with your personal quote which takes into consideration your income, lifestyle activities and your occupation.

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