In simple terms insurance helps us to get through an unexpected, unplanned traumatic event. These are the main types of insurance we deal with.
Life Insurance: pays a lump sum for an agreed dollar amount. For example $500,000 in the event of death. It can be paid out up to 12 months earlier if a terminal illness is diagnosed.
Trauma/Critical Illness Insurance: a lump sum is paid out in the case of a specified illness or trauma. Examples can include heart attack, stroke and cancer. These are defined in the policy. You may be unfortunate and experience this type of trauma. It may not be a life-threatening event but it can mean that you are unable to work until you make a full recovery. A lump sum is paid to help meet your financial obligations during the recovery period.
Total and Permanent Disability Insurance: in the event you experience significant trauma or illness on a permanent basis such as loss of limb or sight, a lump sum is paid. Again there may be specific wording in relation to this in your policy.
Mortgage Protection Insurance: when you cannot work due to injury, accident or illness then your mortgage payments are covered for you. You can keep costs down by having a waiting period before payments are made and these personalised details are what our specialists talk to you about to make sure they suit your circumstances.
Income Protection Insurance: just as when your mortgage payments are covered so under this policy your insurance to an agreed value or predetermined percentage of your income (typically 75%) is paid out by the insurance company. As with mortgage protection you can also have a waiting period as well as different levels of cover and pay out terms such as two years, five years or to age 65. Personal advice is often required.
Medical Insurance: this helps to cover the bills should you require medical attention. It could be anything from the cost of a GP to $30,000 worth of surgery. However to keep your insurance costs down you can have an excess (just like your car insurance) and/or surgery only. There is plenty of choice with the major costs to be covered so again personal advice is necessary.
Working for you
Saving Kiwis work for you and not the insurance companies so we will make sure you that have the right insurance in place and at the right cost. Contact us for a free assessment.