In Box: Income + illness

If they fall seriously ill, 45 percent of business decision makers would be unable to pay all their expenses and maintain their lifestyle just four weeks after sick leave and annual leave runs out.
This compares with 55 percent of households overall facing serious financial trouble after four weeks if the primary income earner falls ill.
New path-finding research by Horizon, conducted for the Financial Services Council, finds the incidence of serious illness, resulting in the primary earner being off work for six months or more is 2.6 times more likely than being off because of an accident. Eighty percent of earnings are covered by ACC when there is an accident. Serious illness is covered by the sickness benefit (about $341.60 week for couple with children). But it is tested on total household income, meaning about one million households, earning over $20,000 year, are not likely to get the benefit. And only 15 percent of adults have income protection insurance.

Source: Horizon Research survey of 3343 New Zealanders. Released February 18, 2013.

Visited 23 times, 1 visit(s) today

Two new BEIA board members welcomed

Two new members have been welcomed to the Business Events Industry Aotearoa (BEIA) board following the organisation’s AGM. BEIA, which is the official membership-based association of New Zealand’s business events

Read More »

Forming partnerships with Māori business

Broadcaster and journalist Mike McRoberts (Ngāti Kahungunu) will be speaking to directors and the business community at an Institute of Directors’ event Te Ōhanga Māori: Connecting with the Māori economy.

Read More »

How to overcome remote onboarding challenges

First impressions matter and employees’ early experiences heavily influence staff retention, productivity, and overall success. Shannon Karaka outlines eight actions to help improve remote employee onboarding in your organisation. A

Read More »
Close Search Window