Do you understand your existing life insurance lifestyle protection plan?

Is your disability, health and life cover life risk protection a mystery to you?

Ever had that vague feeling that things have changed since you took out the cover you currently have in place? Have you really looked at the relevance of your cover since things have changed?

If there would be a major financial loss as a result of a major traumatic health event, you'd want to know how much money might be lost wouldn't you? But if your financial circumstances have changed and no one has looked at the potential loss from major life risks how can you know what the loss would likely be?

How do I know if the changes in my life are significant?

How about a random check list to jog your memory?

“I've had a baby recently”

“I’ve taken on a staff member”

“I’ve got business coach adviser now”

“I’ve moved house and taken on a bigger home loan / mortgage”

“I’ve got married or similar”

“I’ve converted my business into a company”

“I’ve gone into a business partnership”

“I’ve begun to pay myself with PAYE”

“I’ve had a pay rise”

“I’ve taken on more stock and needed a business loan”

“I’ve borrowed money against the house for the business”

“I’ve been promoted”

“I’ve started a new business”

If these items ring true for you, ring me on 03 323 4241. Lets talk in the New Year.

A disclosure statement is available, upon request and free of charge.

Starting or Started a New Business?

Starting a new business is challenging enough, without having to worry about how you'll cope if you're unable to work, due to illness or injury. Do you know people that have started a business recently? Maybe you have. Did you notice how focused they are on getting their business systems set up and their message out the door? Is it any wonder, with the number of small business people in New Zealand? The problem we all face in starting out on our own in a full time self employed venture, or buying into an existing business is that we forget that their new venture could come crashing down around their ears, should their health fail.

Of course there are plenty of people who have thought of protecting their income, and get as far as thinking… “Hold on a moment, there is no income to protect? I’m not making anything to speak of here yet?” Wouldn’t it be great if we were less at risk as a result of our not making much money in our business? That would solve a lot of problems. But finances don’t work that way, of course.
Some people starting out in their new business are content to rely on ACC. If you live in New Zealand, which is where I work, You’ll be aware that ACC is the no fault accident compensation plan that covers, violent, visible, external, non gradual injuries and some work place stress. That’s quite an impressive list I know, but that is the way the law works here. The key to ACC is that you will be paid if your injury for a period of time, but expect it to be a short period. Also, expect ACC to only “respond” to your request for money if you qualify. It is not a catch all to replace some of you income in the case of all sicknesses.

So where do you turn? If you have no real income at the start, but want to have some protection what is the best choice? That’s the question. Until the last few years there was little or no choice. An overview of what is available is the content for another article. If you wish to discuss this with me my contact phone number is 03 323 4241 - just ask for Neil Smith.
This is an article from Life Risk Limited. http://www.liferisk.co.nz

A disclosure statement is available, upon request and free of charge.