027 248 9320 theo@uprotectnz.com

Self-employed, and hate paying your ACC levies?

Here’s a better deal!

Someone once said that there are only two things in life that are certain:  taxes and death! I agree and would add ACC levies to that! No one can escape the long arm of the IRD and ACC, and the sad fact is that ACC is a rather expensive form of accident insurance!

Individuals who are self-employed, in partnerships or are non-PAYE shareholder employees of a company will normally be placed onto the ACC default cover, either ACC CoverPlus or ACC WorkPlace Cover, respectivelyThis is the standard cover that most people are familiar with. It can pay for the cost of treatment and rehabilitation and compensation of 80% of lost earnings.

Acc levies for self-employed individuals

There is, however, another superior ACC cover called CoverPlus Extra. This cover can be taken out instead of the default cover and enables self-employed people and non-PAYE shareholder employees to negotiate an agreed level of weekly lost earnings compensation, while also being entitled to treatment and rehabilitation costs being met by ACC. Those on CoverPlus Extra receive 100% of this agreed compensation if they cannot work because of injury.

ACC CoverPlus Extra has considerable advantages over the default ACC CoverPlus:

  • an injured person does not need to prove loss of earnings when they make a claim – really important for the self-employed;
  • the agreed value income compensation is payable in full, even if one returns to work part-time during rehabilitation;
  • by reducing the negotiated amount of injury cover that a self-employed person would receive, considerable savings can be made in ACC levies.

The net result is that one can achieve substantially more comprehensive insurance cover against illness and cover than from ACC cover alone, which is only for accidents. This is particularly important, as there are many instances where ACC has not paid income compensation for injuries considered to be the result of degeneration.

If you wish to learn more about Acc levies for self-employed folk the advantages of ACC CoverPlus Extra, talk to us, your trusted financail advisors on the Hibiscus Coast.

It’s what we do!

Theo Simeonidis FNZIM & Cristina Simeonidis
UProtectNZ Insurance Services