Get Your Insurance ‘Sorted for Life’
By having a good understanding of the types of Personal Insurance that is available in the NZ Insurance world (Life Insurance, Health Insurance, Income Protection, Mortgage Protection, and Trauma Insurance) and the different claim options it provides ensures that you and your family are well protected. With the guidance of our specialized advisers and informative website you will get a clearer picture of where the right product helps fit into your overall situation today.
You may even find that after navigating through our website this gives you more of an insight into what it is you may be requiring when thinking Personal Insurance needs.
Financial Protection Needs are based on the importance of an individual’s outcome should the inevitable happen such as tragedy in the event of death, or being diagnosed with a terminal illness, suffering disablement whether it be short term or permanent or being hospitalized with a major sickness.
If something happens to us, the last thing we want to do is leave our families and loved ones in debt or left to clean up the financial bills we leave behind…
We can’t control when we pass but we can control what we leave behind and how we look after our loved ones futures. Life Insurance is one of the most important insurance benefits that we need in today’s world in order to protect not just ourselves but our family’s well being and future and minimise the financial impact that death imposes on loved ones.
Life Insurance pays a lump-sum payment in the event of premature death. This money helps you and your family minimize the financial impact of premature death or terminal illness. It is designed to provide peace of mind & security for a wide range of financial commitments such as funeral & legal expenses, paying of the mortgage and other personal debt, providing an education fund for children and creating an investment nest egg to generate on-going income for family members and their future.
If you have debts that you would like paid upon your death, or would like to provide for your loved ones when you are no longer here, then Life Insurance is an essential component of your financial planning.
Your need for life insurance will fluctuate over your lifetime, in response to events such as buying a house or starting a family. You want to ensure that your levels of life insurance reflects these changes, so you have the right cover in place at the most important time…claim time.
Have you ever thought about what your lifestyle might be like if you became seriously ill? Trauma Insurance gives you and your loved ones the financial freedom to make your own choices, at a time when your health has been seriously affected.
Trauma Insurance should be a key component of a most peoples’ personal or business insurance plans. This cover pays a lump sum if you suffer from one of a number of specified trauma conditions such as cancer, heart attack, stroke or loss of limbs just to name a few.
The diagnosis of a trauma event is devastating in any circumstances but the burden will be far greater if your financial security is also put at risk.
The cover is designed to ensure you can cope with the financial effect it has on your lifestyle, family and work which means that you can focus on your recovery without the worry of your finances.
You could use the benefit to:
- pay for private medical costs
- reduce debt or allows you to continue to meet your ongoing financial commitments
- make lifestyle changes so you can focus on recovery – like permanently reducing the number of days you work
- take some time off work or take a stress-free family holiday
- allow a support person to take time off work to help with recovery
- bring some of your dreams to fruition
- or anything else that is of importance to you and your family
There are more than 40 specified conditions covered – depending on the insurer. The most common conditions of cancer, heart attack and stroke make up over 90% of all claims. Advances in medical treatment mean that you have a greater chance of surviving a major illness than previous generations. However, the importance of having Trauma Insurance is highlighted by the increased rates of cancer & heart disease in New Zealand.
Trauma Insurance is also know as – Major Illness, Living Assurance or Critical Illness
Did you know that your income is usually your most valuable asset? Be sure that you could meet your ongoing financial COMMITMENTS if you were unable to work due to illness or injury…
Income Protection provides a financial safety net should you be disabled as a result of illness or injury, and unable to earn your regular income. The monthly benefit is designed to replace a significant portion of lost income to help maintain your usual lifestyle during treatment and recovery. Income protection bridges the gap when you can’t work and helps make sure your family are looked after until you can return to work again.
What about ACC?
Most people understand that ACC will pay you 80% of your income while you are off work as the result of an accident. What most don’t consider is that only 1 in 9 people are off work long term due to accident. The other 8 are unable to work as a result of illness, for which ACC does not cover you.
Unfortunately, as good as ACC is for covering accidents that happen to Kiwi’s at work, what most people don’t understand is that they don’t actually cover you for illnesses such as developing cancer or having a heart attack that could easily put you out of work, and add further stress to your family.
It is important to understand that some Income Protection policies are offset by ACC, which means if you are receiving ACC compensation, this amount would likely be subtracted from the amount that you are insured for.
Life doesn’t always turn out the way we plan it. Sometimes we become ill or have an accident and, if it’s serious, we might be left unable to work. How would you, your family or your business cope if you were permanently disabled?
While for most people the early death of an income earner would cause serious financial strain for those left behind, the financial impact would be just as serious if that income-earner became totally and permanently disabled and unable to work for the rest of their life.
Total Pernament Disability (TPD) cover can provide a lump-sum payment, and financial peace of mind, should you become totally and permanently disabled and unable to work, through accident or illness.
This lump sum helps you to modify your lifestyle and provides your family and business with options. You may use it to pay off the mortgage, improving access to your home and workplace or ensuring your business survives. It can also serve as a valuable addition to a mortgage or income protection policy.