If you're self-employed, a contractor or a non-PAYE shareholder-employee in New Zealand, have you considered restructuring your ACC?
With ACC Cover Plus Extra, you can benefit from more control over how much of your income you want to cover which allows you to pay lower ACC costs.
When it comes to accident injuries you have to prove your income to get weekly compensation paid. For many self-employed and contractors, proving an income can be tricky.
Secondly, when you return to work (perhaps on limited hours or light duties), any earned income is deducted from your ACC compensation payments. This means you could lose your entitlements faster than you actually earn income.
ACC Cover Plus Extra is an agreed value type of cover that offers three huge advantages:
1. You can choose the level of cover you want
2. You know exactly what you will receive if you are unable to work as you don’t have to prove your earnings
3. If you return to work on light duties, you still receive your full entitlement
Foresight Financial can give you options around restructuring your ACC and reducing your ACC levies.
With the ACC savings you make, we could even help you implement some income protection that will top-up your ACC benefits in the event of an accident (or provide you with some benefits if you are unable to work due to sickness).
If you are self-employed talk to us for options on your ACC. We know you are busy but the reality is that this should not be ignored. If you want to have the piece of mind that you will receive earnings that will continue to cover your business and your life plus pay less ACC in levies then you should be ringing my phone now!
Not only that, we will also work with your Accountant to ensure that they are happy with the advice we are giving you.
For sound financial advice and decent financial protection for your business and your family, get in touch today – Mike.