Personal Insurance
in·sur·ance
in-'shůr-ən(t)s | noun
"A means of guaranteeing protection or safety"
Personal Insurance
in·sur·ance
in-'shůr-ən(t)s | noun
"A means of guaranteeing protection or safety"
Each type of insurance cover is designed to cover a certain event or outcome and every person will have their own needs and concerns.
Discover more about each type of personal insurance below, including some relatable case studies.
Please note: The content provided here is intended solely for informational purposes and should not be considered as advice specific to your unique needs and situation. For personalised guidance tailored to your specific insurance requirements, we invite you to connect with us for a confidential discussion.
Life Insurance
Life cover is one of the most easily understood insurances.
Simply, it's designed to pay a sum to your estate when you pass away. Other events, such as terminal illness, can also trigger a claim.
Life insurance is there to protect your loved ones financially, and can help ease the burden of debts and your lost income.
Harvey witnessed the struggles of Eric's family firsthand after Eric's sudden passing without any Life Insurance.
Eric's wife, Laura, faced the heartbreaking decision of returning to full-time work, leaving less time for their three children, all to avoid selling their beloved family home.
Harvey, shaken by their ordeal, promptly secured a Life Insurance policy. Now, he rests easier knowing that, should anything happen to him, his family won't face financial distress on top of their grief, with their home's mortgage fully settled.
The Taylor Whānau from Wellington
$28.41 per fortnight *
Hemi, a high school teacher, and Ana, a part-time library assistant, were juggling the demands of raising their two young tamariki, Nikau and Mia, with the financial pressures of a mortgage on their family home near the windy Wellington coast.
After a sobering conversation about what would happen if one of them were to unexpectedly pass away, the Taylors sought peace of mind.
They opted for a Life Insurance policy tailored to their family's needs, ensuring that their mortgage would be fully paid off and their children's education funds secure, safeguarding the family's future and maintaining their lifestyle even in the face of tragedy.
Many Life Insurance policies are for your whole life, meaning if you continue to pay your premiums, you will be covered. Some policies are not like this and they expire when you reach a certain age. A lot of people who are on these types of policies do not realise this... Check your policy or ask your adviser.
Many countries and insurance providers around the world offer 'Cash Value Life Insurance', which is a type of investment product. This is where you can cash in your policy later for a return. These are not offered by New Zealand insurance providers.
Income Protection Insurance
Income Protection is a regular monthly payment where an illness or injury stops you working.
Your biggest asset is your ability to earn. Why risk it?
IP can help cover ongoing financial commitments while you're not earning, like mortgage or rent payments and household bills. There are a number of factors and considerations to consider with IP, such as income tax and ACC offsets. This is where your insurance claim can be reduced by any amount you're also claiming from ACC.
It's important to speak to an adviser who can help you navigate all aspects of IP cover.
Niko, a dedicated nurse, knew her 10 days of sick leave wouldn't cover a serious injury.
When an accident at work left her with a severe back injury, unable to work for months, her Income Protection policy became her safety net.
It covered her mortgage payments while she focused on rehabilitation, supported by ACC for medical expenses.
This comprehensive coverage provided her peace of mind during a challenging recovery period.