We can show you how to save up to 38% of your ACC levies and re-invest the levy savings to fund for your own superior private cover – which covers accident AND illness. This service is quick, non-disruptive to business, costs you NOTHING and is tailored specifically for the self-employed in New Zealand, whether you have 3 or 300 staff you can learn how to make savings. Our objective is to reduce your ACC levies and show you how you can use those savings to double your coverage with your own private insurer. Or alternatively pocket these savings, it’s that simple.
ACC only provides accident injury cover, and that cover is limited. ACC has tightened the claim criteria that applies to new injuries and old injuries that reoccur from general wear and tear. More importantly, ACC does not cover your income if you are unable to work due to an illness, a health condition, or a recurrent disability.
ACC is limited to how much it will compensate you in lost income as a result of an accident injury. The compensation amount is based on the income declared in your tax return. If you income-split with your spouse, you only get 80% of the income split you have declared under your name. Your compensation payout is further reduced because you have to pay taxes on your claim payments.
That’s where private insurance comes into play. Income Protection insurance, life insurance and mortgage protection insurance with mortgage repayment insurance policies will fill in the gaps left by ACC. In addition, with private insurance, you can lower your ACC benefits and significantly save on the ACC levies.
With private insurance supplementing ACC, you will not have concerns about having insufficient coverage if an illness puts you out of work.