An accident or illness during your working life is a real possibility, and recovering from an illness or accident is difficult enough without the extra burden of financial worries. Sick pay generally only covers a few days of absence each year and may not be enough to cover your mortgage repayments. That’s why it’s important to have a contingency plan in place.
With AIA, you have the choice of traditional Income Protection (either Agreed Value, Indemnity or Loss of Earnings) and Mortgage and Income Protection (MIP).
The main difference between the two options is that Mortgage and Income Protection doesn’t have ACC offsets. This means in case of an accident, anything paid by ACC to compensate your income will be deducted from your Income Protection payments. However your Mortgage and Income Protection payments are in addition to your ACC payments.
Depending on your situation you may choose to have a combination of our income protection options ensuring you have the right cover for your needs.
With all our Income Protection insurance, you’ll be looked after with total, partial and bridging benefit payments.