Premium rates for insurance are typically based on factors such as:
- Age, gender, height, and weight
- Health status, including whether or not you use tobacco or nicotine
- Participation in high-risk activities or occupations
The level of cover you should have needs to reflect your current situation. Barbara-Lee will be able to sit down with you and look at your individual needs and tailor a plan to suit you them.
Generally the amount of protection you need is a combination of what it would cost to help your surviving family members and dependents meet their current needs (like taxes, food, clothing, electricity, rates, mortgage payments, etc.) plus future obligations (like college and retirement funding) – minus the resources that your surviving family members could draw upon to meet those obligations (spouse’s income, savings and investments, other income producing assets, and any life insurance you might already own).
You need insurance to protect what is most important to you. Whether it be your home & contents, your business or your income. One of the most important reasons to purchase life insurance is to ensure your loved ones or business partners are provided for financially. Life insurance is also useful in helping your survivors pay bills and debts after your death, as well as for funeral expenses.
Entitlement to any benefit is affected by your partner’s earnings. If this is above the threshold, you may not be entitled to any government assistance. In addition, a benefit may not be enough to cover mortgage or rent payments, food and all your other household expenses.
Many people mistakenly assume that ACC will take care of them if they can’t go to work. ACC only provides cover for injuries that are the result of an accident. So that is why it’s important that you have cover for both illness and injury. (For example stress and depression are illnesses and are a big reason why people cannot work. ACC will not cover you for these types of events.) There are many different types of income covers and it’s really important to sit down with Barbara-Lee so that she can make sure you have the right type of policy that will pay you at the right time.
It could include any medical condition that can be traced to an issue you had prior to taking out your insurance. Or it could be limited to those health issues you know about or are being treated for. It is important to review these if possible in order to reduce the impact at claim time or reduce premiums.
Because there is a higher likelihood that you will have problems associated with that condition. This is considered a higher risk to the insurance company because you are more likely to make a claim.
Some exclusions and/or loadings may be reviewable and should be discussed at review time.
Disclosing information about your immediate family’s medical history is an often asked question and can result in additional premiums being charged or exclusions being applied. Insurance companies pay particular attention to certain conditions (Breast cancer in woman under the age of 50, Bowel cancer in family member under the age of 50, Diabetes and Congenital heart conditions) Family members include Mother, Father ,Brothers and Sisters only.
Even if you already have a life insurance policy, it’s a good idea to review it periodically to make sure it still meets your overall needs. There may be a new product that would suit you better and this is a good opportunity to ensure your plan still meets your needs.
- There are times in life that may trigger a review of your plan, such as:
- Separated or divorced; or plan to settle property
- Stopped or started smoking
- Had a child, or had one become a dependent
- Started a business
- Changed/lost your job or increased your salary
- Suffered a health issue which may be an insurance claim?
- Increased your liabilities
Generally these products are not as comprehensive as the types of covers that we have available to you and you may find that at claim time you will then be underwritten and this may lead to a claim being declined, when you thought all along you were covered!
We deal with all the main companies, who have comprehensive covers, and who underwrite you fully at application time, so that claim time is a smooth process.
It is so important that you get independent advice from someone like Barbara-Lee who is an Authorised Financial Adviser who is able to tailor the advice to suit your individual needs, someone who is there to review your plan regularly, and someone who is there for you at claim time.
There is no cost to you for our services. Barbara-Lee is paid by the Insurer or Mortgage Provider directly and there is no additional costs to you.
At time of claim, contact Barbara-Lee on 0508 81 81 81. She will guide you through the entire claims process, making this sometimes stressful time easier.
Barbara-Lee holds strong relationships with the insurance companies and lenders whose products have to work for you. It’s the relationship that they have with them that can make the difference when it’s needed most.
It is important that your insurance programme suits your needs, both today and into the future. Barbara-Lee can recommend products from all of New Zealand’s established insurers, and will choose the company and the product that best meets your needs.
Barbara-Lee has access to the following lending partners:
- Avanti Finance
- Co-Operative Bank
- Liberty Financial
- SBS Bank
The information provided on this website is for general information only and is subject to change. This information does not take into account any person’s financial situation or goals and does not support personalised financial advice. We recommend contacting us to obtain advice before making any insurance or investment decisions.