Income Protection Insurance Where Do I Get Advice?

Where do you find advice about Income Protection Insurance options?

Sorted.co.nz the Government site on personal financial matters would say that your "Financial Adviser" is a good source of information about investment advice, but it has little to say about Life Risk Insurance Advisers. They are those Advisers that advise on the financial effect of Life Risks like premature death, becoming disabled, meeting with a major health trauma etc. If you need advice about Income Protection, where do you turn? A Life Risk Insurance Adviser

Some myths and concerns have developed over time about Insurance Advisers, and I am going to deal with them in a series of short posts.

Concern #1
The Adviser was digging ditches last week and this week, insurance sales.

I suggest you ask your Insurance Consultant or Life Risk Adviser how long they have been in the business of life, disability and health insurance sales. Ask them what their background was before that. Ask them if they own their business, or if they are employed.

Many Insurance Advisers are self employed contractors to the owner(s) of the client base. This may mean that when they may split off from with the company they are with, they may have to pass on the relationship to another Adviser. When I set up Life Risk Limited, I bought back some of the relationships I'd sold to the company I was working with when I joined them. I bought out some of the relationships I've developed on that company's client base, and I left some of the relationships behind.

Sometimes I'll see clients I left behind, but they understand that the 20 year relationship they've had with that organisation is more important to the company than the relationship we developed in the 5 years I was looking after them. Not one of them has not accepted that their current Adviser company wants to keep them. That is a sign they are being well looked after I expect.

I've now set up my business so that I don't have to say goodbye to clients.

As part of my serice, my website www.LifeRisk.co.nz has an increasing number of common questions answered in articles, audio and video downloads. This is another way I am offering clients a helpful financial education.

As the Financial Advisers Bill becomes law, and people settle into life with KiwiSaver, some Advisers will begin to offer an easy to understand financial education at the workplace, and over the web. Why? Because we're in the business of advice, Life Risk Insurance Advise and KiwiSaver and Retirement Planning Advice.

Come on a journey of learning with me. I've been in the Life Risk advice business since 1998. That's why I started Life Risk Limited in 2006. Along the way, I'll help you with your Life Insurance and provide advice about KiwiSaver as well.

Neil Smith is the owner of Life Risk Limited, Life Risk Insurance and KiwiSaver Advisers.
A disclosure statement is available, upon request, and free of charge.

I've set up a poll on the topic of Income Protection. Please visit it here. The link takes you to another page at LinkedIn.com