Health insurance
Your family’s financial health and personal wellbeing will always be your priority, and that’s where health insurance comes in. This type of cover is designed to provide you with faster access to private treatment and diagnostics – so you don’t have to wait in the public healthcare system to get treated.
Depending on the health insurance policy you choose, it could cover anything from GP visits to hospital stays and surgeries. Some policies also cover obstetrics costs, non-Pharmac funded treatments, and/or alternative treatments. And you can add your baby to your policy: if you do so before they’re 3 months old, their qualifying pre-existing conditions will also likely be covered. Get in touch to learn more.
Life insurance
It’s a topic many shy away from but planning for the unexpected is important. Should anything happen to you or your partner, a life insurance payout could ensure that your family’s financial needs are taken care of, from covering daily living expenses to future education costs for the kids.
When selecting the amount of life insurance that’s right for you, it’s crucial to consider factors like existing debts (e.g., a mortgage, personal loans, credit cards etc.), projected future expenses, and any income loss your family might experience. Ideally, you may want something that’s comprehensive enough to replace lost income, settle debts, and maybe allow for some funds for your children’s future needs, such as education or a house deposit.
Income protection
If an illness prevents you from working for an extended period, how will the bills be paid, especially if you’re the primary breadwinner? While we all have ACC for accidental injuries, income protection is designed to step in if you’re unable to work due to either a serious injury or a severe illness.
It can replace up to 75% of your pre-tax income, and will start paying if you remain off work after the agreed wait period. Payments usually continue until you either return to work or for the agreed payment period (whichever comes first). It’s a powerful protection tool – get in touch if you’d like to discuss your income protection options.
Critical Illness Insurance (or Trauma Insurance)
Unlike income protection, trauma insurance is paid as a lump sum rather than as regular payments, and you don’t have to be unable to work. You could receive the claim payment if you’re diagnosed with one of the 40-plus qualifying medical conditions listed in the policy, which typically include cancer, strokes, heart attacks and more, to the level specified in the policy.
And, you can use the payout as you like. Some people, for example, use it to cover the cost of alternative therapy, for household aid if required, or even to pay for an extended holiday with the family.
Get in touch: we’re here to help
Like to discuss your needs? Please don’t hesitate to contact us. The decision you take today can benefit you and your family in future times of need.
Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.