ACC CoverPlus Extra is designed for business owners, sole traders, and contractors with irregular incomes (e.g., those paid through drawings, dividends, or director’s fees).

Accountants can’t advise on it because it’s considered an insurance product, and financial advisors don’t earn commissions for recommending it.

They also risk liability if they give incorrect advice, so they often don’t bring it up unless asked. This lack of promotion means many people only find out about it when they go to claim.

ACC CoverPlus Extra costs about the same as standard ACC, but you can reduce your coverage to pay less.

The risk? You’ll receive less if you claim.

Many business owners lower their ACC cover to make income protection and life insurance more affordable.

Here’s why:

-ACC pays you an income if you’re injured in an accident. If you pass away due to an accident, it may also pay your family an ongoing weekly amount. However, it doesn’t protect you from illness.

-Income protection covers accidents plus illnesses and mental health issues, so you’re more protected.

-Life insurance pays your family a lump sum if you pass away, regardless of whether it's an accident or not.

By adjusting your ACC cover, you can create a more comprehensive and cost-effective insurance plan tailored to your needs.

We help you find the right advice. We are not financial advisors, do not provide financial advice, and are not affiliated with any specific advisors or institutions. Our role is simply to connect you with qualified financial advisors who can solve your specific problem.