TIMEOUT FOR EARNERS
Earners planning on taking a break from employment or
taking unpaid leave from work for more than two weeks (e.g. for an overseas
trip, or study leave) need to think about income protection. They
will not be eligible for weekly compensation if they are injured after the
first two weeks of unpaid leave.
This is because they will be classified as a non-earner
at the time of injury (therefore not eligible for weekly compensation).
ACC Corporation has a product called ACC Time Out for
people taking a break from work. A minimum of three months and a maximum
of five years cover can be purchased. The person can choose to be
covered either immediately from the date of incapacity (following a one week
stand down period) or to defer this cover to when they are able to return to
work. The person must be in continuous employment for
12 months prior to application.
we can assist further, please email TotalAccounting as
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