What makes AMP Income Cover so good?
AMP Income Cover provides you with a monthly payment if
you’re unable to work for more than 10 hours a week due to
illness or injury.
The monthly payments will help you maintain your standard
of living and cover expenses such as your mortgage repayments
or rent, loans, payments to your credit card, childcare or your
children’s education.
You can choose from two types of cover – Indemnity Value or
Agreed Value. Which cover best suits your needs will depend
on your circumstances, so talk to your Adviser.
You’ll start receiving payments after a waiting period of your
choice (between two weeks and two years). You can choose
a benefit payment period of two years, five years, or until you
reach 65, depending on your occupation.
If you return to work, but cannot work to the same level as
before, you may be entitled to a monthly amount to top up
your earnings, while you get back to full-time work.
Other features
AMP Income Cover also has a number of other features including:
• cover for complications arising from pregnancy
• options if you’re temporarily out of work
• worldwide cover
• benefits paid while you are overseas
• airfare assistance
• no waiting period if you suffer a relapse within a year of your recovery.
AMP Income Cover at a glance
Income Cover: provides you with a monthly payment replacing up to 75% of your income if you’re unable to work due to illness or injury.
Total Disablement: If you cannot work for more than 10 hours a week because of illness or an accident, we’ll pay you a monthly benefit.
Indemnity Value Cover: provides a benefit that is up to 75% of your average monthly income earned over the best 12 months in the last three years.
Agreed Value Cover: provides a monthly benefit as agreed upon at the time you take out your policy.
Rehabilitation Benefit: You’ll receive a lump sum payment to cover approved costs for treatment to help you recover.
Recovery Benefit: If you return to work in a reduced capacity, we’ll continue paying you a benefit, topping up your income to 75% of your predisability income.
Bed Care Benefit: If you’re bedridden for more than three days, we’ll pay you a bed care benefit.
Call 09 303 1541 today or email leo_harper@amp.co.nz.
