Tips on saving with Income Protection Insurance


One thing that gets to most people is when insurance premiums go up. This is the most common scenario for life insurance policies. However there is another option called level premium. These policies are initially more expensive, but after 5 to 7 years you will start to rip the rewards – while most policies will keep going up you will still be paying the same for yours.

You can also choose remove the CPI option from your policy to avoid increasing premiums. CPI link means that your policy will automatically go up each year in line with inflation. If you want to ‘inflation proof’ your insurance however, you need to have your policy CPI linked.


Insurance policies sold through banks give the impression to be cheaper. But do you know the price you are paying for having a cheaper insurance? Most banks cover you for a limited number of conditions, while insurance companies can cover you for five times more conditions for an extra small fraction of the price.

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Make sure you policy has ‘auto upgrades’. All insurance companies modify their polies over time to keep them in line with their competition providing better benefits for the policy owners. Some insurance companies allow these new modifications to be applied to existing policies and others don’t. Most insurances sold through banks do not allow for this option.


There are two types of Income Protection policies: indemnity or agreed value. An Indemnity Income Protection policy will pay out based on your income at time of claim. It doesn’t matter if you earned double the salary when you took out the policy, the insurance company will pay 75% of your current income. On the other hand, an agreed value policy pays on an agreed amount, so there are no surprises at claim time. Which one is the right policy for you?

There is one insurance company whose Income Protection insurance appears to be cheaper than the rest, but there is a reason for that. This company will not pay claims under mental illnesses. This is a huge concern as we know that the first reason for claims under Income Protection is for stress and mental illness. What price will you pay for a cheap policy?

FREE GUIDE: If you would like a copy of the guide to Income Protection, you can download it here for free. The guide is written by the financial advisers who operate this website – DOWNLOAD HERE


Whatever you do, make sure your Health insurance policy includes non-Pharmac approved drugs. These days a Cancer diagnosis doesn’t mean the same thing that it use to twenty years ago. Cancer is treatable and you have great chances of surviving if it is caught early. This also means that there are new specialised treatments available to treat different types of cancer. If this happens to you, you need to make sure your medical policy allows you to get any treatment you might need.

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Make sure your policy allows for unlimited claims on specialist fees.  Some policies make you pay an excess on specialist fees even though you don’t need hospital treatment. We think this is a major difference, as specialists are the first point of call ‘before’ you go to hospital.
Hope you enjoyed these little tips. And as normal; this is not financial advice this of a general nature only. For advice on these tips and how they could work for you, always talk with your financial adviser.

Important: All information on this site is of a general nature only. When you compare or complete the assessment online, we will connect you with an advisor who can give you advice at no charge. All advisers who are authorised to use this site, for their marketing purposes, are authorised financial advisers. A full list of advisers and what they can advise on is listed here under our terms & conditions of this site usage.

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Quick and easy, actually listen to what I wanted and didn’t try and push anything else on to me
Well knowledgeable and prompt when responding to queries
At first I was skeptical but after doing a little reasearch on The Mortgage and Insurance Shop, there was nothing but positive reviews.Blake really went above and beyond to provide me with as many costs/quotes that suited my financial situation. He provided all the information I needed and explained everything, he made sure I was covered in all the areas I needed and provided great support. He's super knowledgeable and very efficient.I highly recommend Blake, he's amazing!
Blake really helped me understand how the Insurance scene works in New Zealand. The service was prompt and to the point. Would absolutely recommend him to all who need to make informed choices.
Hayley Evans is highly recommended broker, very professional communication excellent Hayley was able to help what I wanted I would recommend Hayley to others. My only regret was I did not do this sooner. Talahiva Riggs
Very helpful and knowledgeable
Easy to deal with and got the right insurance, thanks Hayley
Nicole was a great help and had lots of knowledge.I did not feel rushed and was given options, that at the end of the day was my decision.Very happy with how everything worked out and highly recommend!
Great service and follow up 💯
Hayley was professional and accommodating to everything we requested. She helped with multiple revisions to our insurance quotes and was easy to get hold of and quick to respond. It's great having that personal assistance when dealing with multiple policies etc. Thanks
Awesome service! Highly recommended! Caring and friendly, made every step so easy and stressfree! Go Hayley!!!!! Thanks for all your help!!!!
Blake was very knowledgeable and easy to deal with, definitely recommended!
Hayley was a breeze and lovely to deal with highly recomend
Being a super busy person I had tried to get life insurance in the past and put it on the back burner because of how much time it took up. My partner got a hold of these guys and I had Hayley contact me. Hayley was absolutely amazing to work with. She would call me and tell me in layman’s terms what I needed to do. Thank you heaps Hayley!!!
An excellent company! All throughout the process, excellent customer support. The group goes above and above at every stage and is incredibly knowledgable. They are something I wholeheartedly recommend.