Are you seeking clarity on ACC CoverPlus Extra (CPX) and other insurance options? At WorkItOut, we link you with knowledgeable advisers to navigate the world of CPX.

Understanding CPX

CoverPlus Extra (CPX) is a flexible insurance product that empowers you to safeguard your income in case of work-disrupting accidents. Your compensation is tailor-made based on your chosen coverage and options.

Why Opt for CPX?

CPX suits individuals who:

  • Experience fluctuating income and desire payment certainty.
  • Wish to customize their coverage levels.
  • Are newly self-employed and need insurance reassurance.

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Benefits of CPX

Discover the advantages:

  • Predictable levy invoices, aligned with your chosen coverage.
  • Comprehensive coverage for injuries, no matter where they occur.
  • Clarity on your weekly compensation if injury strikes.

Navigating CPX Invoicing

Here’s how CPX invoicing works:

  • Upon CPX confirmation, you’ll receive your initial invoice.
  • CPX policies renew annually, with invoices typically issued in April.
  • Annual renewal details are sent to ensure accuracy.
  • Timely payments are crucial to maintain your CPX coverage.
  • Non-payment results in policy cancellation, necessitating a re-application.

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Payment Flexibility

If your CPX coverage applies for part of the financial year, standard levy coverage kicks in for the remainder, calculated based on Inland Revenue earnings.

Choosing Your CPX Option

Customize your coverage with these CPX options:

  • Full Compensation: Receive 100% of your agreed cover (pre-tax) until full-time work resumes.
  • Lower Levels of Weekly Compensation: Pay a reduced levy for compensation decreasing when transitioning to part-time work.

Determining Your Cover

CPX covers income levels between $34,679 and $111,507, starting April 1, 2023. Some amounts may require approval; for personalized advice, consult an independent financial expert.

Ready to Explore Your Options?

Get a quick report on your choices and access free advice by clicking here.

Your journey to informed insurance decisions begins with WorkItOut.

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Important: All information on this site is of a general nature only. When you complete the assessment online, we will connect you with an advisor who can give you advice at no charge. All advisers who are authorised to use this site, for their marketing purposes, are authorised financial advisers who can advice you on ACC CPX and how it works. A full list of advisers and what they can advise on is listed here under our terms & conditions of this site usage.