Welcome to futureLIFE4U, protecting you, your family and your business

Phone: 022 136 4931

Life Income Cover

Life Income Cover

Life Income Cover provides a financial safety net for your surviving dependents in the event of death.  This monthly benefit is designed to help replace your lost income and to cover the on-going costs of any lifestyle changes that may arise in the event of death.

Your choice of cover term

This cover provides you with the flexibility to structure your plan to most closely suit your needs by allowing you to choose your own payment term. Choose from 5, 10, 15, 20, 25 or 30 years, or alternatively to receive a monthly benefit to either age 65 or 70.

When the news is bad

Insurers allow the benefit to start paying early upon diagnosis of a terminal illness. While this is not something any of us want to think about, having access to these funds at this time can help prevent financial stress from compounding the obvious emotional stress at such a difficult time.

Bringing your loved one home

Should you pass away while travelling, working or living overseas, the repatriation benefit allows early payment of up to three times the monthly Life Income Cover benefit to reimburse the costs involved with returning to New Zealand.

Early payment of benefit

Depending on the sum insured and the complexities of an estate it can take some time before the proceeds of a life policy can be legally released. To assist with immediate expenses while that process is completed, the bereavement support benefit allows a payment of the first 3 months of your Life Income Cover to be paid out immediately upon notification of death.

Expert assistance

If you or your family would like assistance with managing the proceeds of a Life Income Cover claim, your Life Income Cover benefit provides a financial and legal advice benefit which reimburses the costs of a financial planner and/or lawyer up to a maximum of $2,500, payable in addition to your Life Income Cover.

Funeral support for your children

Should a dependent child under the age of 18 pass away while you are covered under this benefit, you will receive an automatic funeral support benefit, which is payable in addition to your Life Cover. The amount payable for children between the ages of 10 and 18 is $3,500, or $2,000 (less any other amounts payable) for children under 10 years of age.

The above benefits are summary examples only and may not be a full list of benefits which may be available to you.  The exact types of cover and benefits will change depending on the insurer and the specific policy. Please contact us for a comprehensive list of benefits available.

Life Income Cover

Life Income Cover is a type of life insurance which is suitable for when you do not want to have the financial risk of leaving your family a large amount of money.  Leaving your family a large amount of money does come with risks that they could lose that money in bad investments, or not use the money wisely or even current economic conditions.  Using Life Income Cover can reduce some of that risk in that you can leave your family a regular income for a set period of time, and the insurer pays this regular income to your family.

It is a good option to combine this type of product in addition to a lump sum payment product if some of these risks concern you and I have some of the best life insurance companies to choose from.

If you would like to discuss whether Life Income Cover is the right product for you, please contact us

Top