A good question and one that is often misunderstood when it comes to income protection.

It’s also been coming up in conversations more recently, suggesting there’s some job security sentiment developing.

In New Zealand, there are five situations that impact your ability to earn an income.

It's well known that gender identity issues have fallen under the scope of mental health. The recent media activity around the subject has brought it into mainstream awareness.

From 1 January 2020, the WHO updated their ICD (International Classification of Disease) to version 11 and put it online with exciting changes.

Babies have been the key subject at home in the last few weeks with a new addition. A previous comment about medical insurance has got me thinking.

Those things around Babies and New Family members you need to be aware of that can trigger a need to have a chat with us.

I've spent 24 years in financial services, during which time I've worked on a significant number of difficult income protection claims. I still don't understand why the indemnity-first approach for income protection still prevails with the majority of advisers in today's environment.

Well, I do. It's not the client-first approach we'd all like to expect. Advisers have to do less and get paid more, but that's another story.

 Congratulations on your choice to move to New Zealand!

We may just about be the farthest country from just about anywhere on the planet, but it is the best country in the world.

If you have just stepped off the boat or you have been here for a while, you are probably in for a bit of culture shock. While things here often look the same as home, they are just a bit different.

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

Level term has had some additional noise recently, with new financial advice rules raising awareness of the way advice in this area is delivered. 

So when do you need it?

In basic terms, income protection insurance in New Zealand replaces a percentage of your income when you cannot work in your own occupation due to medical or injury reasons. 

It is designed to provide 75-80% of your in-hand earnings when you are disabled at claim time.

Most policies today have a range of options and different flavours. Fundamentally, there are two types: those you pay tax on at claim time and those you do not. 

Continuing the discussion around diabetes I started in this article about the reality people with T1D Diabetes (T1D) deal with and what the associated costs are like.

Some of this will cross over for context, but not enough. If you don't know the detail you may want to read this first.

Having been an adviser for 10 years and in the industry for over 20, it's not often I come across things with insurance that I haven't seen before.

And while diabetes in the insurance realm is nothing new, it has typically focused on the top-level diagnosis for underwriting rather than the reality people are going through. 

As a home based worker, insuring your income can be a bit of a challenge in some situations, though with post Covid, work from home has become more accepted by insurers. 

The question is what do you do and how mobile do you have to be to do it? 

To be clear, I'm talking about those people who earn an income rather than those who are in unpaid occupations. The later is another article.

I'll be exploring a few situations and the insurance approach for paid home based workers, to give you a bit of an idea about how you can protect your income if you work from home.

Congrats! If you're reading this, you're about to embark on the next exciting but stressful stage of life: planning your wedding.

We must discuss a few things before you get carried away with planning. And they are all about risk—no, not about getting married, but about protecting things so they don't become a drama on your special day.

Yes, I know it's not something you want to consider when you've just got engaged. It's better now than later when it's too late.

I've written before about the blunt approach medical insurance and the insurance industry as a whole have when it comes to mental health. However, things do change, and some things have a contribution.

One of the areas that I have become significantly more aware of is the plight of those that are non-neurotypical or, better put, neurodiverse. These are possibly new terms for many readers and ones that they know by different names like ADD, ADHD, & ASD.

Mental Health - Not so much the resources but the funding

Since Covid hit we have seen a marked incraes in people's awareness of mental health and the distinct lack of support we have in the general community.

As an adviser, mental health comes up in discussion on a regular basis. Be it working through an existing application, discussing the terms of cover an insurance company has offered or dealing with a claim.

This prompted me to have a closer look at what services are available and what funding and financial support for mental health exists for you, if you need it.

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.

A question that is often asked, ‘So will the insurance company actually pay?’ Yes they do, they pay valid claims.

This is the issue, defining valid claims. Valid claims are claims that are both covered by the policy and the policyholders have been complete in their disclosure.

For example a cardiac event, similar to a heart attack, but isn’t severe enough to qualify as a heart attack under the definition of a heart attack on the trauma policy wording. This isn’t a valid claim, as it didn’t meet the definition of the policy document.