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info@theinsuranceladies.co.nz
Personal Solutions
Because it’s about protecting what’s important to you, no matter what kind of lifestyle you enjoy and if an injury, sickness or death does occur, it’s knowing that you and/or your family are financially secure enough to cope.
Life Cover
Life insurance pays a lump sum on your death protecting those people who depend on you. It can be used to pay off your mortgage, pay funeral expenses and also leave an income for those left behind. The correct life cover incorporates a terminal illness benefit, which means the insurance can be paid out early if you are diagnosed with a terminal illness and given less than 12 months to live.
In New Zealand 1 in 6 men and 1 in 9 women over 30 will die between the ages of 30 and 65.
While it’s easy to say “that won’t be me”, denying the possibility of premature death is like playing Russian roulette.
Ask yourself:
- If you were diagnosed with a terminal illness and likely to die within a year, how could you ensure quality time with your family before you go?
- Who will pay the funeral expenses?
- Will the family home have to be sold?
- Will your partner/spouse be earning enough to cover regular living expenses?
- What about the things you’d wished for for your kids, such as great holidays and a good education?
Health Cover
With health insurance you can access treatment in a private hospital, and your insurer will pay (they can either reimburse you or pay the health provider directly). This means that you won′t need to join a public hospital waiting list, and it also usually means that you have a wider range of treatment options, hospitals, and medical specialists available to you.
In New Zealand we are extremely lucky to have a great health system in place. This system is set up for emergencies and will take care you at these times. If however you have an event which is not classed as urgent, for example, you might need a knee replacement, then you may be placed on a non-acute waiting list.
If you have health insurance, you can choose your doctor or specialist, and you can choose when and where you are treated – all with the assurance that you’ll be able to recover all or most of the costs.
Ask yourself:
- How would it impact your life to be on a public hospital waiting list for six months or longer?
- How much would it cost to get treatment for a non-acute condition?
- Where would this money come from?
Income & Mortgage Protection
An accident, illness or temporary disability at some time during your working life is a very real possibility. Can you think of someone who has been off due to recovery from a car crash; a sporting injury; a temporary but serious illness; a mental health problem; occupational overuse syndrome? Any of these issues could require months off work, requiring Mortgage Protection Insurance to assure they don’t lose their house.
Sick pay generally only covers a few days absence every year, so if you or a family member or friend were not able to work, what would you fall back on to pay your mortgage? Do you have a Plan B??
Ask yourself:
- If you were unable to work because of illness or an accident, how would you cover debt repayments (mortgage, credit card, personal loans)?
- How would you pay regular household expenses without your income?
If you are saying to yourself well ACC will pay me then you need to know that ACC only covers you for an accident, if your claim is accepted. If you have an illness you might qualify for a Job Seeker Support from WINZ (formerly Sickness Benefit).
Currently (August 2019) if you are single and 25+ this is around $218 a week and if you are married (no children) $182 a week each (however offsets may apply).
Both of these options give you no certainty around how you would survive financially.
Isn’t it funny that when we buy a car, the first thing we do is rush out and insurance it. Have you done that?
When we buy a house, the first thing we do is get it insured. But we need to realise that our income is Pivotal to our life and lifestyle. Without income we wouldn’t have that house or car would we. And just as important is our health. Because without our health we would be able to generate that income.
Trauma Recovery
We all like to think we are bullet proof, but the truth is we do all get sick, have accidents and get older. Many New Zealanders are disabled by the same medical condition – heart attacks, strokes and cancer kill nearly two-thirds of all New Zealanders. Trauma cover pays a lump sum benefit if you are diagnosed with a critical illness or major trauma. With this benefit you could reduce or eliminate your debt, offset any losses in your future income, or create a cash reserve, or enjoy a holiday to help you recovery fully before rushing back into life.
Statistics tell us that 2 in 5 people (40%) will experience a critical illness before the age of 65! To plan for this risk, you need to think how your household would be affected if you or another income earner were to become critically ill.
Ask yourself:
- How would you pay for specialist medical treatment not covered by the public health system?
- How would you manage, reduce or service debt repayments (mortgage, credit card, personals loans)?
- How would you afford regular household expenses?
Trauma recovery can offer cover for over 40 conditions. This can take the financial pressure off you while you’re recovering and can be used for whatever you wish i.e. medical treatment, a lump sum on your mortgage, ongoing income if you are unable to work. We can also offer trauma insurance for your children, or grandchildren.
What would happen if you were told you were not able to work in your own occupation again? You could reach this point in our life quickly or slowly. Illness can gradually erode your health until you’re unable to work every again; a serious accident could leave you totally and permanently disabled.
Statistics tell us that for every death in our country, 17 people will become disabled to the point where they can’t work.
Ask yourself:
- In the short and medium term, how will you take care of debt and pay for living expenses?
- How will you take care of future needs, such as education, helping your kids into their first homes or funding retirement?
Total and permanent disability insurance allows you to maintain a quality of life for yourself and your family if you are permanently disabled. When you think about the changes which would occur in every aspect of your everyday life if you suffered a permanent disability, being able to maintain some normalcy, and not having to worry about finances can make TPD insurance an investment worth considering.
How I can tailor a Personal Protection Plan for you?
We all like to think that it “will never happen to me”, but unfortunately a serious trauma or illness can happen to any of us. That’s why it is important to take steps to protect ourselves and our loved ones with personal insurances.
To put a personal protection plan in place for you I will meet with you in the comfort of your home, or a local venue where we can find out about you and your needs. With this information I can then analyse your current situation and identify any key areas or issues facing you. I have many solution providers to work with and we will then compare the companies and their products and make recommendations to suit your individual needs.
Once recommendations are completed I will present to you a written statement of advice for your consideration. If you wish to proceed with these recommendations, or part of these recommendations, I will then implement these for you.
Then once your plan is in place I will regularly review this to make sure it still suits your ever changing needs.
Remember your plan will offer you the peace of mind of knowing that if an expected event did occur around an illness or injury, that this will give you the financial security and allow you to concentrate on what important, you and those you care about.
Then should you ever need to claim, then I’ll manage that process for you. Claim time can often be a very worrying and stressful time as something in your world has gone terribly wrong. Just let me know of your need to claim and I will facilitate that for you. My relationship with the claims teams at the various companies allows me to make the process as quick and as seamless as possible in achieving the desired outcome for you.
So all I need is some time to sit down together and find out about you. Because I am paid by the insurance companies, there are no fees for my services so why not contact me today and we can arrange a time to get together, giving you the peace of mind and financial security going forward.
Because it’s about protecting what’s important to you, no matter what kind of lifestyle you enjoy and if an injury, sickness or death does occur, it’s knowing that you and/or your family are financially secure enough to cope.