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ACC CoverPlus Extra & Levies Restructure

For shareholder-employee business owners, sole traders and the self-employed.

What is ACC CoverPlus Extra?

ACC CoverPlus Extra is a type of insurance policy offered by the Accident Compensation Corporation (ACC) in New Zealand. It is designed to provide additional cover for self-employed individuals and non-PAYE shareholder employees who are not covered by the ACC Work Account.

Who is it for?

ACC CoverPlus Extra is suitable for those who work in high-risk occupations such as tradespeople, farmers, and self-employed professionals who may not qualify for standard ACC CoverPlus policy. It is also suitable for those who rely heavily on their income and want to ensure they have protection if they are unable to work due to an injury. It is important to note that ACC CoverPlus Extra is an optional policy, and the standard ACC CoverPlus policy may be suitable for some self-employed individuals.

What are its benefits?

ACC CoverPlus Extra is an agreed-value cover, which means that the level of cover is agreed upon between the policyholder and ACC, based on the estimated income. This provides a more personalised level of cover for the specific needs of the individual.

The policy provides 24/7 cover for any injury, whether it happens at work or outside work. This includes both accidental injuries and those resulting from gradual processes such as repetitive strain injuries.

Benefits under ACC CoverPlus Extra policy can include:

  • Weekly compensation payments: If the individual is unable to work due to an injury, weekly compensation payments may be provided to cover lost earnings.

  • Lump sum payments: If the injury results in permanent impairment, the policy may provide a lump sum payment.

  • Rehabilitation support: The policy may provide support for rehabilitation services such as physiotherapy, occupational therapy, and medical treatment.

  • Death benefits: In the event of the policyholder's death, a lump sum payment may be made to their estate.

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