What is my income worth?

What is my income worth?

August 24, 2015
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Future value of my income? – Why do 4 out of 5 working New Zealanders not insure their income?

Annual Income/Age 25yrs 30yrs 35yrs 40yrs 45yrs 50yrs 55yrs 60yrs
$40,000 $2,744,729.09 $2,234,708.55 $1,784,558.48 $1,387,250.77 $1,036,582.36 $727,078.33 $453,906.47 $212,801.80
$45,000 $3,087,820.23 $2,514,047.12 $2,007,628.29 $1,560,657.12 $1,166,155.16 $817,963.12 $510,644.78 $239,402.02
$50,000 $3,430,911.36 $2,793,385.69 $2,230,698.10 $1,734,063.47 $1,295,727.95 $908,847.91 $567,383.08 $266,002.24
$55,000 $3,774,002.50 $3,072,724.26 $2,453,767.91 $1,907,469.81 $1,425,300.75 $999,732.71 $624,121.39 $292,602.47
$60,000 $4,117,093.64 $3,352,062.83 $2,676,837.72 $2,080,876.16 $1,554,873.54 $1,090,617.50 $680,859.70 $319,202.69
$65,000 $4,460,184.77 $3,631,401.40 $2,899,907.52 $2,254,282.51 $1,684,446.34 $1,181,502.29 $737,598.01 $345,802.92
$70,000 $4,803,275.91 $3,910,739.96 $3,122,977.33 $2,427,688.85 $1,814,019.13 $1,272,387.08 $794,336.32 $372,403.14
$75,000 $5,146,367.04 $4,190,078.53 $3,346,047.14 $2,601,095.20 $1,943,591.93 $1,363,271.87 $851,074.63 $399,003.37
$80,000 $5,489,458.18 $4,469,417.10 $3,569,116.95 $2,774,501.55 $2,073,164.72 $1,454,156.66 $907,812.93 $425,603.59
$85,000 $5,832,549.32 $4,748,755.67 $3,792,186.76 $2,947,907.89 $2,202,737.52 $1,545,041.46 $964,551.24 $452,203.81
$90,000 $6,175,640.45 $5,028,094.24 $4,015,256.57 $3,121,314.24 $2,332,310.31 $1,635,926.25 $1,021,289.55 $478,804.04
$95,000 $6,518,731.59 $5,307,432.81 $4,238,326.38 $3,294,720.59 $2,461,883.11 $1,726,811.04 $1,078,027.86 $505,404.26
$100,000 $6,861,822.73 $5,586,771.38 $4,461,396.19 $3,468,126.93 $2,591,455.90 $1,817,695.83 $1,134,766.17 $532,004.49
$105,000 $7,204,913.86 $5,866,109.95 $4,684,466.00 $3,641,533.28 $2,721,028.70 $1,908,580.62 $1,191,504.48 $558,604.71
$110,000 $7,548,005.00 $6,145,448.52 $4,907,535.81 $3,814,939.62 $2,850,601.49 $1,999,465.41 $1,248,242.79 $585,204.94
$115,000 $7,891,096.14 $6,424,787.08 $5,130,605.62 $3,988,345.97 $2,980,174.29 $2,090,350.20 $1,304,981.09 $611,805.16
$120,000 $8,234,187.27 $6,704,125.65 $5,353,675.43 $4,161,752.32 $3,109,747.08 $2,181,235.00 $1,361,719.40 $638,405.39
$125,000 $8,577,278.41 $6,983,464.22 $5,576,745.24 $4,335,158.66 $3,239,319.88 $2,272,119.79 $1,418,457.71 $665,005.61
$130,000 $8,920,369.54 $7,262,802.79 $5,799,815.05 $4,508,565.01 $3,368,892.67 $2,363,004.58 $1,475,196.02 $691,605.83
Assumptions:
1. Work to age 65 years
2. Average Inflation rate 2.5% based on historical levels. This will vary.
3. Does not take into account future increases or decreases in your income.

Questions you should ask yourself:

What is my most valuable asset? Can I afford to live without my income? I have as much chance of not working again as my house has of burning down – Do I insure my house? Yes – then why not yourself? Do you not pay for the house?

Fact: 1 in 3 New Zealanders will have a major trauma and be off work for longer than six months during their working life.

Contact us now to ensure you have a risk plan in place to protect you and your family.

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