It is rare that the media covers 'good news' stories about the effects of insurance.
This article tells the story of a young lady who was crippled on an overseas trip (from a simple accident - falling through a deck/rotten board) and how her travel insurance worked for her.
It is sad that she is severely injured at such a young age.
However, the other important thing to note is that ACC coverage is limited when New Zealanders are overseas. The fact that ACC does not cover her for income replacement is consistent with the design of the ACC scheme.
However, a good income protection scheme or trauma insurance policy would have given additional protection and financial security.
At Moneyworks, we strongly recommend that if you have a family member or close friend who is travelling overseas (we often assist our clients to arrange cover for their young adult children), that you make sure that they have in place at least a trauma insurance policy to cover them while overseas. Ideally, enough for them to return to NZ and set them up in an independent housing unit if they were to suffer an accident that leads to immobility - such as paraplegia or tetraplegia.
Kiwi crippled on OE grateful for insurance
If you would like information on how to arrange additional insurance for people in your life who are travelling overseas, ask us now at Get Quotes Now - free quotes.
If you have any thoughts or opinions that you would like to share, visit us at our Twitter, Facebook or Linked In pages, and comment.
For more blog articles on insurance, check out these posts:
Insurance Cover and Policy Wording Passback – what does this mean?
Why do I need Income Protection Insurance if I am covered under ACC?
Cancer Insurance definitions on Trauma Insurance policies
By Paul Swarbrick
