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WHAT TYPE OF INSURANCE DO I NEED?

Life insurance?
Trauma insurance?
Income protection insurance?
Redundancy insurance?
Mortgage insurance?
Health insurance?
Permanent disability insurance?
All of them?
Some of them?

There is a myriad of options available and it can be confusing, firstly working out what you really need, and secondly whether you qualify for that sort of insurance.

For example, if you are the adventurous type who regularly climbs sheer ice walls at extreme altitudes without a harness followed by base jumping from the top, you may struggle to get some types of insurance.

Rather than trying to figure it out yourself, make an appointment for a free discussion and risk assessment with one of our insurance experts.

TYPES OF INSURANCE

LIFE
Lump sum payment to your family (or named policy holder) in the event of your death

TRAUMA
Lump sum payment should you suffer a traumatic health event (e.g. diagnosed with a serious illness)

INCOME PROTECTION
Replaces some or most of your income should you suffer an illness or accident which means you are unable to work. This is not cover for if you lose your job or can’t find one.

REDUNDANCY
Provides income for a period should you be made redundant or declared bankrupt if you are self-employed

MORTGAGE
Covers your mortgage payments should you be unable to work due to illness or injury

HEALTH
Covers medical expenses, as defined by your policy – you choose what level of cover you want (e.g. GP visits, surgery, specialist visits)

PERMANENT DISABILITY
Lump sum payment if you are unable to continue your line of work due to illness or injury

WHAT ABOUT ACC?
ACC is the New Zealand government’s insurance programme for accidents, covering treatment costs and loss of income. However, it does not preclude the need for other types of insurance, as it does not cover injury due to degenerative conditions, nor does it cover illness. And the reason most people are unable to work for long periods of time is due to illness, not accident.

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