Insurance News for Real People

5 Reasons Why You Should Use An Insurance Advisor

5 Reasons Why You Should Use An Insurance Advisor

You’re looking for insurance cover, be it for your life, home, income or health. You have two choices. You can use an insurance advisor to do all the hard work for you, or you could purchase straight from the insurer's website. Which one will you pick?

Obviously, we recommend that you use an insurance advisor and today we’re explaining the five most important reasons why.

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Claims and the Claims process

Claims and the Claims process

Right oh, if you are reading this from the perspective of trying to claim, we might be a bit shutting the gate after the horse has bolted. Though there may still be things we can do, so do check out our claims advocation service. Where we can we help people get the support they need from what is available.

For those who are looking for life insurance and wanting to find the best deal on life insurance, this is the starting point. Knowing what you don’t know that can hurt you.

The best deal in life insurance is a policy that responds and works when it is needed, not the premium you pay. Because paying a cheap premium doesn’t necessarily mean you have the right cover. Nor does it guarantee you put it in place correctly.

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Men’s Health Focus: How to Improve Your Heart Health

Men’s Health Focus: How to Improve Your Heart Health

Each year, 33% of deaths in New Zealand are caused by cardiovascular disease. Every 90 minutes, someone in the country dies from heart disease. Then we’ll top that off by saying that 172,000 people in New Zealand, or one in twenty adults, are living with heart disease (NZ Heart Foundation). If these statistics weren’t enough to encourage you to improve your heart health, how about this:

In New Zealand, the number one cause of death for both Maori and non-Maori New Zealanders is ischaemic heart disease.

As a male, your chances of dying from a heart attack or heart disease are enormous. Yet so many men fail to take some simple steps to help improve their heart health. So we’ve put together some easy tips for you to implement into your daily life.

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Who Needs Life Insurance?

Who Needs Life Insurance?

Are you one of the 57% of New Zealanders who have life insurance? If so, you already understand the importance of having it. But there’s 43% who may think life insurance is important, just not for them. Or that only old people or those with kids need it. But in reality, a life insurance policy is for everyone, including you!

Do I Need Life Insurance?

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When is the right insurance cover the wrong cover?

When is the right insurance cover the wrong cover?

Confronting title, the short answer is when you don't review it.

The longer answer is all about the claim and it's highlighted well in this article Insurance company refuses to cover auckland mum with rare illness 

I feel for the family involved, it's not the outcome, as an insurance adviser, we like to see. It's not the outcome as a policyholder or as a human being we want either.

How did this happen?

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Insurance adviser and insurance broker, what’s the difference?

Insurance adviser and insurance broker, what’s the difference?

Insurance adviser or insurance broker, what’s in a title?

Quite a bit actually. “Are you an insurance broker?” is a very common question. Yes, sort of, is the answer.

That’s because, under the regulations we have, we’re insurance advisers, not insurance brokers.

What’s the difference?

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Wills, Trusts & Estate Planning

Wills, Trusts & Estate Planning

 

They say all is fair in love and war. 

And it was first said by Miguel de Cervantes who made the comparison in 1604 in Don Quixote when he wrote, "Love and war are all one . . . Which was translated from the original Spanish used.

Variations have been used since, though it was not until 1850 that we saw the exact phrasing we know today.

Frank Smedley wrote in his novel, Frank Fairlegh: Scenes from the Life of a Private Pupil:

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Cancer definitions in trauma insurance cover

Cancer definitions in trauma insurance cover

 

Continuing from the previous blog on breast cancer claims, we are going to get a bit technical and dive much deeper into what today's policy wordings say about cancer definitions.  

We did something similar on heart attack definitions a couple of months ago, though this is significantly longer. I am going do something I have not seen in a blog, add an appendix!

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Continued Cancer definitions in trauma insurance cover

Continued Cancer definitions in trauma insurance cover

Continuing from our previous post on the primary cancer benefit definitions we cover the early or less severe stages of a cancer claim with these definitions. If you want to read the main article, you can read that here first

Partial or Early Cancer Benefits

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Breast Cancer and Trauma Insurance

Breast Cancer and Trauma Insurance

 

This has been an interesting topic of discussion in the last few weeks. Brought about by two clients facing breast cancer.

Checking the stats on the New Zealand Breast Cancer Foundation website the diagnosis rate of breast cancer in New Zealand has been steadily climbing in the last 20 years. From around 2,000 diagnosed per year to around 3,000 diagnosed per year presently.

This probably isn't surprising given that our population has grown too. What is pleasing to see is the mortality rate is improving relative to the number diagnosed. 

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Using Level Premiums

Using Level Premiums

Level premiums are an interesting one, as every situation is different.

Level term has had a bit of additional noise recently with Fidelity Life reviewing their policies and premiums in this area. Now choosing to engage with the market their product deserves a look.

So when do you need it?

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Life policy terms and conditions

Life policy terms and conditions

 

It seems there is plenty to write about this week. 

Russell Hutchison has said the following on his blog moneyblog this week.

An Australian man whose daughter went to live in Syria claims she did nothing wrong by going there, and was misled into the venture which was supposed to be for humanitarian purposes. Headlines describe her as a "Jihadist." But her motivation is not the point as far as the insurance claim is concerned.

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Heart Attack definitions in trauma insurance

Heart Attack definitions in trauma insurance

 

Diana’s Clements recent article on heart attack definitions in trauma insurance and the situation of a claimant in Australia, not getting paid for his heart attack, has put the spot light on the definition of a heart attack in trauma insurance here.

Looking into heart attack definitions in the market, from what you can presently buy, the quality level across heart attack definitions is quite surprising.

There has been plenty of contention about Sovereign heart attack definitions over the years. The rating for this would suggest it’s somewhat founded, with a 21% gap between it and the best rated heart attack definition.

As our largest life insurer, Sovereign also has the largest number of trauma policies on their books.

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Death definitions and life insurance

Death definitions and life insurance

 

I was reading a policy working recently and it had a definition of death in it that I found humorous. Not that dying is humorous but the way it was written was.

Death/Dies - Means irreversibly dead with no possibility of resuscitation.

It was along the lines of doh! yeah already, it’s life cover, you’re dead it pays, what’s hard about that.

Thinking about it, we’ve had stories reported in the media about people being pronounced dead, then waking up in the morgue or the autopsy table, some hours/days later.

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