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20 Sep 2022

Are you relying on ACC for your protection?

As it turns out, many New Zealanders believe they will be covered by ACC in case of serious illness – which unfortunately is not the case.  That’s just one of the sobering findings of a recent survey by insurer Partners Life. So, here are some key things to know, if you’re looking at protecting your financial future.

ACC is only for accidental injuries

Here in New Zealand, we’re lucky to rely on the no-fault comprehensive injury cover that ACC offers. As you’ll know, the scheme pays for most accident- and injury-related medical costs (including prescription medicines) for any person in the country, regardless of their visa status. It really doesn’t get much better than that.

What it doesn’t cover, though, is serious illnesses or non-accidental injuries. That means that, if you were unable to work due to a medical condition, ACC would not provide any financial support. The good news is that there are other options available to bridge that protection gap – with personal insurance. 

Income protection, for example, would replace up to 75% of your gross pre-disability income if you were unable to work due to injury or illness. As for trauma insurance, it would provide a lump-sum payout if you were diagnosed with one of the 40-plus serious medical conditions listed in the policy. 

Like to explore your options? Please don’t hesitate to contact us. We’re here to help.

Other insurance misconceptions to watch out for

According to a 2020 Financial Services Council report, it’s estimated that 71% of New Zealanders are under-insured when it comes to personal insurance. And that’s likely due to some common misconceptions. 

Here are a few examples:

  • Being too young to get cover – Unlike many people think, it’s never too early to take out personal insurance. In fact, there’s at least one key reason for getting cover early in life, and that’s the likelihood of developing medical conditions in the future. The healthier you are when you take out cover, the fewer exclusions or loadings your policy is likely to carry. 
  • Not having enough assets – Having assets is just one of the factors to consider. What about debts or credit cards, for example? And is anyone in your life depending on your income to maintain shelter, food and pay other bills? Personal insurance is about more than just protecting things. 
  • Cost concerns – Perceived cost is another common barrier to taking out cover. But depending on your needs and budget, there are likely to be cost-effective options worth exploring. The key thing is to know what to look for, and we can help you with that. 

Are any of these misconceptions getting in the way of a more comprehensive financial protection? Get in touch: we can assist you with navigating this space with confidence and ease.

Do you have any questions for us?

We welcome you to contact us: when it comes to your insurance, no question is too big or too small. 


Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.

Link Financial Group Ltd trading as Mortgage Link and Insurance Link FSP 696731 holds a licence issued by the Financial Markets Authority to provide financial advice. Insurance Link (NZ) FSP 446867 is authorised by that licence to provide financial advice. Please visit for more information and Disclosure information.