Selecting the right insurance product
Protecting your assets and making sure that you and your family will no longer worry about unforeseen events is crucial to the financial well-being of your family. Buying an insurance policy ensures that your needs will be covered in case something untoward occurs, such as disability, terminal illness or loss of job.
There are various benefits available in the market to protect the numerous circumstances that could potentially put your family under financial pressure. The Home Loan Shop has a team of experts that understand the insurance market to help you fulfil your insurance needs. We will review all your options with you so that you can ensure the cover is fit for your situation.
LIFE COVER & DEBT PROTECTION
Insuring your life is effectively enabling your loved-ones to stay in the family home when you pass on. Having to move house in or very shortly after a period of grief is not only emotionally but financially crippling. Life insurance will give you the opportunity to make an educated financial decision after things may feel like they have been turned upside down.
MONTHLY INCOME & MORTGAGE PROTECTION
Mortgage and income protection usually pays a tax free monthly benefit in the event you cannot work due to injury or illness. These benefits will cover most of the monthly household expenses so you and your family can focus on recovery. There are optional add-on benefits such as redundancy cover to mitigate this risk.
CRITICAL ILLNESS & DISABLEMENT
Having critical illness and trauma cover in place will ensure a lump sum cash benefit paid to you to help your recovery and give you the best chance of survival. Examples of critical illness or accidents covered include 40+ conditions such as cancer, heart surgery and paralysis. It will allow you to make all sorts of arrangements from adjusting your home to providing for the family while you battle the critical condition. That way you don’t have to worry about your finances while you get back on your feet.
We are very fortunate to have New Zealand’s public medical system which pays for many emergency related accidents and illnesses for its citizens. This however, is getting under more and more strain from the ageing population and number of people needing this funded treatment. For some conditions people are waiting up to two years for treatment.
Private health insurance can provide you with the best possible care when and where you need it, which can fast-track your recovery and treatment process.