The NZPFU National Committee is thrilled to announce an enhanced income protection/life policy has been negotiated and will be available for members very shortly.
Three different insurance providers presented policies resulting in the National Committee negotiating enhancements to arrive at the best available policy to meet the needs of our membership. The consideration and negotiation of the insurance resulted in unexpected delays with the most recent provider coming forward in early May. The National Committee was committed to pushing for the best outcome for members and the agreed policy has a broad scope of cover including all cancers, most illnesses, a short stand-down period (7 days for injury and 14 days for illness), and cover up to 75 years of age.
We are now working swiftly to put in the systems so that members can sign up for cover. The NZPFU will send out more information shortly including the process to sign up, detail on the policy and a programme of membership meetings (in person and by video conference) to ensure members can understand the policy and requirements. For now a snap shot of the NZPFU Group Policy includes:
- A group cover scheme so everyone is accepted under the scheme with the same premium regardless of age etc
- 7-day stand-down period for injury claims and 14 days for illness claims with weekly benefits paid fortnightly
- 100% income protection paid up to maximum of $3000 per week (including overtime and allowances) for maximum of 104 weeks if unable to work as a result of an injury or sickness
- Top-up to 100% income for those on ACC
- All cancers, most illnesses and injuries covered
- Sporting injuries covered (26 weeks income protection)
- 13 week mental health benefit and confidential counselling service and support available 24/7
- Up to $400,000 death benefit for work injury and $100,000 for death outside of work
- Cover up to 75th birthday (maximum income protection cover 104 weeks up to 65 years of age, 52 weeks for those aged 65-69 and 26 weeks for 70-74 year-olds)
- Range of permanent disability benefits up to $87,500 (which do not affect weekly income protection benefits)
- Pre-existing conditions covered if since joining the policy the member has been able to cease all treatment and advice for 6 consecutive months (with the agreement of their doctor) and further treatment was not likely, expected or inevitable.
- De-generative conditions covered (26 weeks income protection)
- Dental benefits (injury only) up to $1500 per tooth for members and their dependants/spouse and broken bone benefits up to $9500
- Cover for complications including childbirth or miscarriage in the first 33 weeks of pregnancy
- Other benefits include $10k funeral expenses cover, $10k heart attack and stroke benefits, home help benefits up to $250/week, up to $25k rehabilitation and return to work benefits including reimbursement of costs to travel to medical appointments
- Dedicated claims support personnel separate to the insurer with current claim acceptance rate of 97%
As part of the settlement of the collective agreement last year FENZ will reimburse up to $50 a week for income protection and/or life insurance premiums. All NZPFU members will be entitled to be covered by the NZPFU Group Policy but only those covered by the collective agreement will be reimbursed by FENZ. The reimbursement is paid annually and retrospectively (pro rata) for the year. NZPFU members covered by the collective agreement who already have other income protection and/or life insurance will be able to claim the reimbursement allowance of up to $50 per week from 1 July 2022. FENZ have yet to confirm that process so we advise members to have copies/print outs of evidence of premiums paid for income protection and/or life insurance ready. When FENZ has made the deductions they should already have the information on the premiums paid.
Securing income protection insurance for our members is a significant achievement as it has been a regular feature in Remits at the annual NZPFU National Conference for many years. The reimbursement allowance bargained last year will cover the premiums so members can finally afford and access this necessary insurance. Having a NZPFU negotiated Group Scheme means we have been able to tailor the scope of cover and benefits to the needs of our membership, and will be able to review the scheme and benefits annually with the provider.
We look forward to providing more detail and the process for signing up to this cover soon!
Wattie Watson, National Secretary on behalf of the National Committee – National President Ian Wright, National Vice President Joseph Stanley, Northern Branch Secretary Martin Campbell, Northern Branch President Jeffery Shrimpton, Northern Branch Vice President James Hall, Central Branch Secretary Rob Hutchison, Central Branch President Greg Lee, Central Branch Vice President Rik Walsh, Southern Branch Secretary Mark Leonard, Southern Branch President Graeme Gilroy and Southern Branch Vice President Aaron McKay.