Start Up Income Protection

This provides income protection for newly self employed (less than 36 months), in the form of monthly payments made if the life assured is unable to work due to sickness or injury. No financial evidence is required to support an application under Start-Up Income Protection. This is an Agreed Value benefit which has a 3 year policy term and includes an upgrade path to a comprehensive TotalCare Disability Income Protection benefit. If not upgraded will continue with Indemnity cover to age 65.

Built-in features

Agreed value benefit

Sovereign will pay the monthly sum assured amount of either regardless of pre-disability income. The monthly benefit amount can range from $1,000 to $9,000.

Waiver of premium benefit

Sovereign will also pay any premium due under this policy while a benefit is being paid.

Waiting period

Choice of 3 waiting periods: 4, 8 or 13 weeks

Waiver of waiting period

The waiting period will be waived by Sovereign if the life assured becomes disabled again from the cause not later than six months after the original total disability benefit ceased.

All claims resulting from the same or related cause will be considered to be the same claim in respect of the benefit payment period.

Quote Calculator for Start Up Income Protection
— for Self Employed

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Income Protection required:$ per month
Occupational class
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Premium waiver cost$
Policy cost per month
per year
per fortnight **

If you wish to apply for this policy, click on Apply Now to view the Application form. Print it, sign it and post it to us at FreePost 207963, NZLife., P O Box 34778, Birkenhead, Auckland 0746. Please also print and send a copy of your quote and a completed Direct Debit form, if you choose this payment method, with your completed application.

** Note: Fortnightly payment frequency is for Direct Debit payments only.

See Application Form (PDF).

Additional benefits

This product has a 3 year policy term and provides for an upgrade path into Sovereign's income protection benefit under TotalCare. This can occur at any time after 12 months of cover under this policy if there is adequate financial information to support the application. Some medical underwriting may apply. Please contact us for more information.

Definition of disability

Totally disabled means that, in Sovereign's opinion, after considering the advice of a Registered Medical Practitioner and other relevant information, the life assured for the benefit is so seriously incapacitated by illness or injury that they are:

  • Unable to follow the occupation or carry on the business they were involved in before the disablement date for more than 10 hours per week; and
  • Not in fact working, or engaged in any other business.


Sovereign will not pay the benefit where any of the following (and in each case either directly or indirectly) causes or contributes to the total disability:

  • The life assured deliberately injures him or herself or attempts to do so.
  • The life assured participates in any criminal act.
  • The life assured does not comply with the treatment prescribed by the attending treatment providers.
  • The life assured is pregnant or gives birth, unless the total disability lasts for more than 90 days after the end of pregnancy, in which case the waiting period will start from the 91st day.
  • The life assured deliberately takes or uses non-prescribed drugs, other than for proper therapeutic or medical purpose and in accordance with the manufacturer's directions for use, or deliberately misuses prescribed drugs.

If the life assured is imprisoned for any reason, no monthly benefit will be payable during the term of imprisonment.

Get a Consolidated Quote     Apply for Start Up

Insurance provided by Sovereign
Quick Key
Benefits available
Income Protection with built in Waiver of Premium

Eligible Ages
Minimum age: 16
Maximum age: 55

Eligible Occupations
Self employed for less than 36 months in occupations classes 1 - 4. To be eligible for Start-Up Income Protection the applicant must only have one and not multiple businesses. Some high risk occupations are uninsurable. To confirm eligibility, please contact us.

Cover Type

Benefit Amount
$1,000 to $9,000 per month

Benefit Period
6, 12 or 24 months

Premium Guarantee
1 year

Policy Term
3 years Agreed then to Age 65 Indemnity Cover

Start Up Policy Wording

Income Protection Needs calculator

Get a Consolidated Quote

Apply for Start Up

Essential Disability Income

TotalCare Income Protection

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