Create your will online now in 6 easy steps

Start now

Create your own bucket list

Start now

Funding My Bucket List if I Get Sick or Injured

Some may believe that if illness or injury interrupts their ability to earn the government will support them while they recover, leaving their bucket list dreams intact.

To help you decide if this is a realistic belief we have outlined below what this strategy might mean to you financially.  For a full understanding of your specific individual governmental entitlements if you do suffer an illness or accident, please refer to the applicable government department.

If you get sick:

If you became ill and were unable to work you would be entitled to receive assistance in to form of a benefit from Work and Income.

Under recent legislation changes the Unemployment, Sickness and Domestic Purposes Benefits have been combined into the multi-purpose Job Seeker Benefit.


Benefit Type Gross Weekly Net Weekly Cash Asset Test Cash Asset Test Level
Job Seeker Benefit $197.65 $174.21
Accommodation Supplement $160.00 Yes < $16,200.00 This is a maximum payment and is dependent on location of residence.
Other support payments may be available depending on circumstances. Rates Valid as at 1 April 2014


If you are injured in an accident:

If you are injured due in an accident and cannot work for a period of time or become permanently incapacitated, you may be eligible to claim payments from the Accident Compensation Corporation (ACC). Please note it is possible that what you view as an injury caused by an accident might actually be classed as an illness by ACC.


Type of Injury Payment Example and conditions
Injury due to accident where you are unable to work 80% of gross earnings
Permanent Impairment Lump Sum
Minimum 10% Impairment (one off payment) $2,763.00 Example – Severe damage to knee ligament
Minimum 28% Impairment (one off payment) $12,617.00 Example – Amputation of leg below the knee
Maximum 80% + Impairment (one off payment) $110,555.00 Example – Tetraplegia
Independence Allowance Paid Quarterly
Independence Allowance Minimum 10% Impairment $167.70 Example – Severe damage to knee ligament
Independence Allowance Minimum 28% Impairment $383.50 Example – Amputation of leg below the knee
Independence Allowance Minimum 80% + Impairment $1,006.20 Example –  Tetraplegia
Other support payments may be available depending on circumstances. Rates Valid as at 1 April 2014. Compensation payments and maximum caps are at the determined at claim time by ACC


Other Options

By putting in place “living insurances” you can help protect your family, your immediate life style, and your future dreams against the financial impacts of unexpected health issues. Whether it’s providing immediate access to the very best in treatment options to facilitate a rapid recovery, particularly important if you need to return to work to restore your income, or whether it’s to reduce debt to remove the financial pressure from ongoing repayment obligations, insurances that are paid while you are incapacitated can enable your dreams to still happen.


Some employers provide private medical, income protection or life insurance schemes as part of their employee benefits, and if yours does then this is a very good start, however your should check the types and amount of covers provided as they might not be sufficient to cover all of your needs. You should also check what happens to that cover if you leave that employer to ensure you are not left uninsured (and possible uninsurable) at that time.


Private Medical Insurance

The public health system will help with treatment of major and acute illness (e.g. heart attack, stroke and some cancers), however under the public system where you may require complex diagnostic tests, have a degenerative condition or your required treatment is considered non-urgent there is a waiting list system that applies. In addition many extremely effective treatments or medications are rapidly emerging but have yet to be subsidised by PHARMAC meaning they may not be readily available through the public system, even if they are the best available treatment option for your condition.

For more information click here


Income Protection

Income protection will replace a significant part of your income while you are unable to work as a result of an illness or accident meaning your current financial obligations can continue to be met.

For more information click here



Trauma cover provides a lump sum payment should you suffer a serious or potentially life threatening condition (e.g. Heart Attack, Stroke, Cancer, Loss of limbs, Multiple Sclerosis, Parkinson’s disease etc.). You may wish to pursue a treatment option that is not available in NZ, you may need to alter your home to accommodate a disability, you may wish to take leave to spend time with loved ones, or you might need to pay for nursing or additional childcare costs. The trauma cover benefit can assist you to stabilise your financial position following a significant health event and the choice of what to do with the money is yours.


For more information click here


Total and Permanent Disability (TPD)

Total and permanent disability cover can assist you if you completely lose your ability to ever work again from illness or accident. It is designed to help you replace your actual and potential lost income with a lump sum.


For more information click here

If you have any questions about “living insurances” or you wish to protect your “Bucket List”, complete the form below and press send, and an adviser will contact you to begin the conversation.

Your name (required)

Your phone number (required)

Your email address (required)

I would like the following:

Your question (if applicable)