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Does your business have adequate insurance and ACC cover?
Does your business have adequate insurance and ACC cover?

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Have you reviewed your cover?

Do you understand your ACC invoice or what your Insurance actually covers? The importance of having cover, and the right type of cover, is crucial in today’s business environment.

What ACC covers:

-   Personal injury caused by accident  

-   Work related gradual process disease or infection

-   Treatment injury or medical misadventure

-   Mental injury caused by:

  • Sexual abuse or assault
  • Sudden traumatic event in the work place
  • Physical injury

What ACC doesn't cover:

-   Illness

-   Pain

-   Stress (unless related to sexual abuse or personal injury or traumatic event at work)

-   Injury to teeth arising from natural use

-   Ageing process

-   Hernia caused by coughing or sneezing

ACC Cover Plus Extra - enhanced income cover

Basics:

Comparisons/ benefits compared to CoverPlus:

Clients must apply for ACC Cover Plus Extra

 Agreed level of cover, you can opt for higher or lower  levels of compensation

Non PAYE employees only

 No proof of earnings required at time of claim

Must earn above $28,080 or work more than 30 hours per week

 Based on 100% of agreed amount of cover, can be  more than 100% of income

Cover ranges between $22,464 - $94,553.

 Paid full benefit until fully returned to work

Couples can be on different classification units - not possible with CoverPlus

 Tax deductibility for shareholder employees

Posted: Tue 08 Apr 2014

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