While we can’t always control what happens to us in life, we can make the bad times easier. Insurance is all about having a Plan B for when life throws those random curve balls at you.
Personal insurance is a contingency plan for those tough financial times that may arise due to sickness, accident, or losing a loved one. And if you need it, it may well be one of the smartest decisions you will ever make.
So, what is personal insurance?
Personal insurances cover a range of insurance products that protect you in different scenarios. They can include a variety of lump-sum products, monthly payments or private medical cover so you and your family are covered even if the worst happens.
Personal insurance products to consider
• Income and Mortgage Protection: Cover for your mortgage payments and a percentage of your regular income to be paid out while you’re not working. Could your family get by if you were unable to work for an extended period?
• Trauma Insurance: Financial cover whether you’re still working or not. This insurance covers trauma such as heart attack, stroke, cancer, and almost 40 other events so you can focus on your recovery without worrying about your finances.
• Total and Permanent Disability Insurance: Financial cover in the event of permanent disability caused by accident or illness. It’s also designed to assist you if you’re unable to return to work because of your disability.
• Life Insurance: In the event of your premature or unexpected death, life insurance provides financial cover for those you leave behind. Life insurance provides a lump-sum payment that can be used to pay off debt, cover funeral and estate legal expenses or provide for your family’s long-term financial needs. If you are diagnosed with a terminal illness, you also have the option of receiving your benefit early, allowing you to spend quality time with your loved ones. How the funds are used is entirely yours to decide.
• Health Insurance: Provides access to treatment in a private hospital. You won’t need to join a public hospital waiting list, and you may have a wider range of treatment options, hospitals and medical specialists available to you. Prompt treatment gives you the best chance of recovering quickly and getting back to enjoying life sooner.
• Business Insurance: Are you self-employed or a contractor? Does your business have a continuity plan in place? Will your business still work if you can’t? ACC pays a percentage if you’re injured, but when you’re ill, more stress is the last thing you need.
Getting the right balance of personal insurance cover
Working with a reputable insurance broker who is not tied to just one insurance provider but can access the full range of personal insurance services offered by all New Zealand insurance companies is the best way to get the right balance of personal insurance and the best cover to suit your circumstances. At Global Finance, we can tailor a personal insurance plan to meet your needs at a manageable premium.
When should I think about getting private insurance cover?
When it comes to insurance, we believe it’s better to have insurance and not need it than to need it and not have it. So, don’t put it off till it’s too late. You never know when the unthinkable might happen. Procrastinate too long and when you finally do want life insurance, you may not be able to get it due to health or lifestyle choices. The ideal time to take out medical insurance is when you’re healthy, not after the diagnosis of a medical condition or a health scare.
Why work with our insurance brokers?
Buying insurance direct is easy. Buying the right insurance, however, isn’t quite so simple. Get it wrong and it could mean the difference between cover and calamity. Insurance brokers act as a link between you and the various insurance companies and they act on your behalf. We identify what you need and then search the market to find a product that suits. We provide the best cover for you, your family, and your lifestyle because we are in a better position to find what you need.
Having someone you trust on your side in times of stress can make all the difference. Should you need to make a claim, your broker will manage the process from start to finish at no cost to you. We know what information is needed and we do the work for you. As your insurance advocate, we will go in to bat for you to ensure valid claims are paid promptly and fairly.
What’s the risk?
No one can predict the future. Yet, that is exactly what many people seem to try and do when it comes to their personal and family finances. And although all the personal insurances we can offer might not suit you right now, it is always a good idea to take stock of your situation and have a plan in place for your financial future. We can walk you through your options and look at the right combination of insurance covers.
The more information you have, the better prepared you’ll be to determine what’s best for you and your family. So have a chat with one of our brokers and we’ll come up with a tailored plan that provides you with security and peace of mind at a competitive price.
**Underwriting criteria and insurer terms T’s and C’s apply