Your guide to personal insurance

Choosing the right personal insurance can feel overwhelming with so many options available. So let’s break it down.

Life Insurance

What it does: If something happens to you, life insurance provides money to your family. This could be a lump sum or monthly payments. It is up to you how you would use the funds. It could be used to clear the mortgage to ensure less financial worry on your family.

Why it matters: It ensures your loved ones can maintain their lifestyle without financial stress.

Trauma Insurance

What it does: Gives you extra money if you get seriously sick or injured, covering specific illnesses or injuries.

Why it matters: Helps with medical bills and other unexpected costs not covered by public health services. It could also help keep up with your financial commitments whilst you are sick, or enable your partner to take some time off, knowing the bills are covered.

Income Protection

What it does: If you can’t work due to illness, it provides regular money to cover bills and other expenses.

Why it matters: Most income loss comes from illness, not accidents. If you were to have an accident, ACC would most likely support you while you were unable to work, but it doesn’t cover you if you are unwell.

Medical Insurance

What it does: Offers peace of mind by giving you quicker access to treatments, and covering extra medical costs.

Why it matters: Especially useful when public services face challenges, which is happening in New Zealand right now. Some providers can fund up to $600,000 per year of non-PHARMAC funded treatment (not funded by public services), which could slow the progression of certain conditions.

Mortgage Protection

What it does: Ensures your mortgage payments are covered for a specific time if you can’t pay due to illness, job loss, or death.

Why it matters: Keeps your home secure during tough times.
In the world of personal insurance, the choices you make matter. Life is unpredictable, and these policies act as your safety net.

Our dedicated Financial Advisers are here and ready to guide you. Give us a call.

Photo by Lisa Fotios

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