The Lowdown on Personal Risk Insurances
We are specialist Mortgage Advisers. We don't offer insurance advice. However, we believe that it is important for our clients to understand the insurance options available to them and to make an informed decision as to which insurances might be suitable for their particular circumstances at various stages in their lives.
We are fortunate to have a great working relationship with a specialist Insurance Adviser who has many years of experience with a range of personal risk insurances. Bridget Klinac has helped to put together some articles designed to shed some light on the various insurance products, starting with perhaps the most basic product, Life Insurance.
So, what is Life Insurance?
Life Insurance pays an agreed cash lump sum upon the death or terminal illness of a person (the life assured).
The proceeds of a Life Insurance payout (which is not taxed) might be used to repay or reduce debt, provide surviving dependents with an income to assist with their future living costs, provide an education fund for children, pay funeral-related expenses or a range of other things.
Life Insurance can be an extremely cost-effective way of covering the risk of dying prematurely and potentially leaving your loved ones in a financially fragile position. The reality in New Zealand now is that many households require two incomes to cover mortgage instalments and living expenses, and if one of the income earners was to die prematurely, the family’s ability to meet ongoing expenses could be severely impacted. This is where Life Insurance can help. For many people, Life Insurance seems too hard, too confusing…but, it’s also too important to ignore, and advice and support is close at hand.
Having some basic Life Insurance is easy to arrange and can be life-changing for your loved ones if needed, plus it can give you peace-of-mind knowing that if the worst happens, your family members will have the financial support they need.
If you think it would be a good time to review your insurance options please get in contact with us, or contact Bridget, directly, on phone 021 977 924 or email email@example.com.
Bridget’s Disclosure Statement is available on request.