Income cover is vital as it can replace the income coming into the household if someone is off for a period of time due to sickness or injury.
It is important to value this, for example a person earning $70,000 per annum for 25 years would earn $1.75 million, you’d likely look at protecting that.
In addition if someone is off work for an extended period of time, not only are they now a burden, but the family may be unable to survive if the money stops.
Some people rely solely on ACC to provide this type of cover, particularly in a business sense, however ACC is quite limited in the cover it provides. For example, heart attack, cancer stroke as well as conditions as a result of wear and tear, i.e. back injuries are not necessarily covered. It is important to get advice and make sure you are getting quality advice in this area.