WealthDesign

Yes, that’s what some people revealed in a recent survey conducted about attitudes and aspirations of people in their 20s and 30s when it comes to buying insurance. Still more people thought cleaning out their fridge was going to be more fun than thinking about insurance.

True, it’s not as exciting as planning a holiday, getting a new phone or buying a better car – but if you spoke to people who have lived through a personal disaster, without the benefit of an insurance payout, I bet they would tell you that it’s vital to plan for the worst!

Many people (about two thirds of the people in the survey) either don’t take advice at all, or turn to the internet, or friends, or family before they purchase insurance. Often people think parent’s opinions are considered boring, predictable and old fashioned – go figure! Either way, the majority of advice sought is from people who have limited knowledge and experience, meaning the advice is poor, at best.

The remainder of the people surveyed have or choose to use an adviser. These people make the smart choice which means at claim time, odds are they’ll be covered – which is what insurance is all about. Plus, they’ve got the support of a real live person (as opposed to an 0800 number), who knows how to get the best outcome for them, as that’s their expertise.

Cheap and fast insurance solutions are not always the best. And if you’re paying anything for insurance, don’t you think it’s best to ensure you get the most bang for your buck? The thought of paying your premium for years to find at claim time that it was for nothing, surely would a bitter pill to swallow, more so than eating any live bug!

WealthDesign insurance advice. Comprehensive, affordable and, we don’t bite.

Regan Thomas

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Recently ‘Fair Go’ ran a story on insurance claims being denied due to non disclosure of existing health conditions, and concerned WealthDesign clients who saw the show have been contacting me querying this.

Great query! 

Here’s what I know …

1. Once a policy is in force, you don’t need to tell the insurer if your health changes.

2. If you are taking out cover, you are obliged to tell them everything a reasonable person would disclose.

3. Once a policy has been going for over three years the non disclosure rules are more difficult for the insurer to decline a claim, unless it is clear non disclosure.

In over 20 years I have never had a claim declined over non disclosure. The problem normally arises with insurance sold over the internet or via the post.  They use short applications and ask limited questions.  (So people aren’t getting good quality advice.)  The onus is then on the client to read the small print and understand they must declare all relevant information.

The trick if you are changing insurers, make sure you tell them everything and never cancel your existing cover until the new cover is in place.

The key is to use a good insurer and an experienced adviser.

So in short, don’t worry; if you’re with WealthDesign, we have your back!

John Barber

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When it comes to health insurance, ‘exclusions’ are a pain. ‘Exclusions’ are those conditions, big or small, for which the insurance companies will reject your application based on the risk you pose to their back pocket.

But not in July!

For the rest of July we have access to a special offer for all you spring chickens out there! For those of you under 55, you can now get health cover with pre-existing conditions being covered after three years. 

So for those who never thought health cover possible, or have had health cover applications rejected, July is your month!

Get in touch and we will sort you out. Who you gonna call? Ghost Busters! Na, the answer is WealthDesign.

Wilson O’Fee

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Happy, healthy people.  My favourite kind.  However sometimes they aren’t.  And that’s when I get even more of a buzz, knowing that I’ve had a hand in making my clients’ lives just that much more bearable, when the happy, healthy thing has turned pear shaped.  And believe me, it happens a little more frequently than we would all like.

One of the major issues surrounding health insurance is, getting it – ASAP!  You see when you’re a young, spring chicken, full of bounce and vigour, you don’t need health insurance!  Awesome.  Bounce and vigour isn’t always a permanent fixture in our lives, and guess what?  You can’t get health insurance when you need health insurance.  So please, do yourself a favour, go and get yourself some good solid, health insurance BEFORE you may ever need it.  (Pre existing conditions do make life difficult when looking for health insurance.) 

Consider yourselves told.  But wait, there is more however.

I wish it were as simple as just going and getting yourself some health insurance.  It’s not.  So many things to consider in the health insurance market.  That’s where WealthDesign is your best friend (whether you’re a spring chicken or an old broiler, no judgement here!).  Know the market is the catch cry.  WealthDesign knows the market.  We have access to all the insurers and have comprehensive knowledge of their policies.  We pay for independent research to back up our recommendations.  We know what the insurers are up to out in the market place.

Become (or stay) a happy, healthy person.  My favourite kind!  But know that if some unhealthy, (and then perhaps unhappy) aspects creep into your world, you are covered!

Our job at WealthDesign is to make the complex simple. Plus, you won’t be paying more than if you deal direct with the company – another false perception held by some spring chickens and old broilers alike!

Know the policy, know the company, and know the claims will be paid! 

John Barber

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If you’re a young kiwi, you’ve probably got some sort of plan to leave our fair shores in search of adventure overseas.  Either your big O.E. or jumping the ditch to go work in Australia.

All very exciting of course.  For sure, pack the bag and get the passport, but also spend a while focusing on a backup plan – life can serve you a lemon at any time – including when travelling the world!  Travel insurance is a must (and relatively cheap) if you’re off overseas, and if you’re off to work in Australia, you’ll need trauma, TDP and death cover.  The Australian Government won’t be hospitable if anything happens while you’re there, so you need something in place before you go.  If you don’t, you may have to face being shipped back home and living with mum and dad in the event of something unexpected taking place.  One step forward … and three steps back.

There’s an old Arabian adage that goes, ‘trust in God but tie up your camel.’  By all means it’s important to trust that all will work out well in your travels, but along with a good attitude, do what you can to mitigate any unwanted outcome too.

Both of my daughters have travelled overseas and both have needed their travel insurance – meaning their unplanned events (stolen and broken personal property) were not too financially devastating.

Be a smart kiwi.  If facing a life change (of any description), come see us at WealthDesign.  For the sake of half an hour of your time, getting yourself prepared and ready to go financially, is well worth the effort in the long term.

John Barber

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