Life insurance is not just for you … it’s for those you care about
NZCU Employees offers a range of insurance options to cover your life and income through Pinnacle Life Insurance. While we don’t like to think about the unexpected happening, knowing that your family can pay the bills and rent, if anything happens to you creates great peace of mind.
Below we outline some of the key types of life insurance that are now available to our members.
A Life Insurance policy provides for those you leave behind and helps them pay the rent or mortgage, invest in your children’s education, put food on the table and pay the bills.
If you have Life Cover with Pinnacle life we’ll pay a tax free lump-sum to the owner of the policy (or their estate) if you die, or earlier if you’re diagnosed with a terminal illness.
If you have an existing life insurance policy with another Life Insurance company you can either:
- apply for a new or replacement policy, if you like our new policy quote, or
- apply to save 20% on your existing life insurance premiums through our Switch process.
Income Protection Insurance
This type of policy provides you with a regular monthly payment to help replace your income if you are unable to work due to illness or injury. It provides for you and your family through this tough time.
Every year over 50,000 New Zealand households have someone in the family who is unable to work for 3 months or more. And yet only 26% of households have someone with Income Protection insurance – although 70% of households have their household contents insured!
While ACC covers accidents, it may not replace all your income – but it won’t provide for your family – or cover your mortgage – if you become ill and can’t work – which is why protecting your income is so important.
If you have Income Protection Insurance with us we’ll provide you with a monthly payment to help cover your bills, groceries, and rent or mortgage if you are unable to work due to illness or injury.
You can choose the plan that best suits your family’s needs, and make sure that you reduce the stress on your family as you recover from your illness or injury.
A Funeral Insurance Policy pays a tax free lump sum to your estate or nominated beneficiary if you die. If you take the policy out, and then die for any other reason that accidental death in the first two years, we will refund you any premiums that you have paid. Also, your funeral insurance premiums never change, and stop when you turn 85 – and your cover will then continue for the rest of your life – with no further premiums payable.
Interested in life insurance?
If you would like more information about our insurance options, find out more here.
Or get in touch with our team to talk through your options.