ACC CoverPlus Extra is an optional product from ACC that enables self-employed people to negotiate their level of cover for loss of earnings. You’ll know exactly how much you’ll receive if you are injured and can’t work – whether or not the injury is work related.
Here are six reasons why we recommend our clients choose ACC CoverPlus Extra.
- CoverPlus Extra is available to all self-employed and non-PAYE shareholder employees who work 30 hours or more a week – and to part-timers whose earnings exceed $30,000.
- You can tailor the level of cover for level of earnings to suit your personal circumstances, subject to ACC underwriting.
- The 2016/17 minimum cover is $24,544 each year ($590 before tax) and the maximum cover is $97,650 ($2,309.04 before tax).
- If you make a claim, there is no need to prove your earnings, as the weekly compensation has already been agreed.
- You will receive 100 per cent of the amount of the agreed lost earnings compensation until you are fit for full-time work, unlike standard ACC where compensation is abated once you return to work part time.
- You are able to claim weekly compensation based on your agreed level of cover from day 8.
How do you know if CoverPlus Extra is right for you?
- Your income fluctuates.
- Your personal income is not a true indication of actual earnings.
- Your business will still generate income while you’re injured.
- You want guaranteed level of lost earnings compensation.
- You have comprehensive private insurance for loss of earnings and want to reduce your ACC levies.
CoverPlus Extra levies are calculated on your agreed level of lost earnings cover and based on your business/occupation activity.
How to apply
Diprose Miller can process and submit an application on your behalf and liaise with ACC during the underwriting process to answer any questions they may have.
Find out more about CoverPlus Extra or contact us to find out how Diprose Miller can support you with your ACC needs.
Case study
Peter Van Leewen of Whangamata recently suffered a serious injury as a result of a quad bike accident. Peter broke his back which meant a lengthy recovery. Peter has received weekly compensation from ACC based on his agreed level of cover until he was fully fit to return to work.
“I’m really happy that I had CoverPlus Extra. The process of claiming weekly compensation during my recovery ran really smoothly. I’d give ACC an A+. We are lucky to have such a good safety net here in New Zealand," says Peter.
