WealthDesign

Any extra cover you can get with no medical underwriting is absolute gold!!

For some clients the main barrier to buying additional cover is the thought of spending time going through those pesky application forms all over again. But ‘special events’ can mean a free pass to additional cover without application forms or visits to the doctor.

Here’s some examples of ‘special events’:  marriage, divorce, buying property or increasing the mortgage, sending a child off to university, having a baby or taking care of a dependent relative. 

A new ‘special event’ has been introduced recently by one insurer.  If you have had a pay rise, you can increase the sum assured on your lump sum covers by five times the amount of the pay rise, with no medical underwriting. For example, if the pay rise is $10,000 you can increase the sum assured by $50,000.  They can also of course increase the sum assured on their income protection by 10% with no medical underwriting.

Keeping your cover in touch with your lifestyle can be easier than you imagine, so call the WealthDesign office to book an insurance review – you’ll be pleased you did!

Regan Thomas

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As an export nation, we need to get our product to market. Much has been said about the strong demand for beef in the USA, but currently, there’s a BIG problem. The port workers in the West Coast of the USA are in a dispute with their employers. The problem our exporters face is beyond their control but as a result of this issue, goods passing over the docks have slowed dramatically and a long backlog has developed. Containers are sitting on ships and distribution trucks sit idle.

This is a major problem. It has the potential to damage not just exports from New Zealand but also the US economy, and the economy worldwide. The domino effect has already kicked in – for example, Honda has slowed production, directly because of this port dispute.

Interestingly our media hasn’t yet picked up on this and economists are still talking up the beef exports to the USA. If you are interested, I suggest you google and check it out.

We live in a global village and what happens on the other side of the world can have an impact in our backyard. 

John Barber

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On opening facebook this morning, I discovered our daughter’s message – her phone has died. Our daughter has been away in Italy for the past year studying at the Luiss University – and her dead phone will involve another travel insurance claim. She’s already needed her travel insurance twice during the year away. Once when her iphone was stolen in a bar, and the other time was for her Mac notebook laptop which fell of her bed, and broke. Life happens. Technology breaks. It is unforeseeable.

But there is relief in knowing that the travel insurance that was set in place prior to her departure will ensure the cost of fixing or replacing her phone won’t all rest on her shoulders (which is good for a poor uni student).

Paying for travel insurance for a year abroad was expensive enough at the time, and there’s always the temptation to limit the time the cover is in place (and hope like mad nothing happens for the rest of the time). However the travel insurance has been invaluable – you just don’t know what life will throw at you.

Our daughter is lucky – she has a dad who is a dab hand at knowing where to find quality travel insurance! Wanganui Insurance Brokers handle our clients’ travel insurance (along with all our other general insurance) needs. Our dealings with them throughout the year have been friendly, efficient and reassuring. They’ve held our hand every step of the way. No stress; just results.

So the ‘take home’ is, don’t leave the country without it!

Kristine Barber

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In the past three years the New Zealand Stock Exchange (NZX) as a whole, has increased by a whopping 77% in capital terms (tax free). On top of this, investors have received cash flow by way of dividends, making investing in our local markets very profitable.

History has shown that markets that go up, can just as easily go down, and now is a time for caution by investors. I am not a fortune teller so I can only look at the market indicators and make a judgement call.

The dramatic fall in dairy revenues, the fall in business confidence, the projected fall in inflation and our very strong currency does not bode well for our economy and therefore the NZX.  The New Zealand dollar is up around 18% from where it was three years ago, and while our Reserve Bank continues to talk about increasing interest rates in late 2015, our exporters will be in for some tough times.

The tough thing for investors is to find a reasonable alternative in which to invest.  Personalised advice will always be the best advice – advice that’s a match to your individual circumstances. For example for some investors, this will be to sell out and bank the profits; others however, will do well to broaden their investments.

My job is to help you build a successful investment portfolio.  I know where to look for investments that work just for you and your circumstances.  Experience counts in the investment game.  Call me to discuss your personal investment requirements today.

John Barber

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Financial planning – just for the oldies right?  Not so much!  If you’re generation Y, just finishing university, finished your apprenticeship or starting out in the working world, there are a few financial planning issues you need sorting.

Firstly it’s wise to be in KiwiSaver, as soon as you join the workforce. This is one of the four pillars of financial success. You need to understand the first home subsidy rules and how KiwiSaver works. You’ll be targeted by the bank teller who is trying to meet his/her daily KPIs of selling a certain number of KiwiSaver plans, but it pays to get valuable, qualified advice. You really need to understand what you should invest, and why you should invest in the right fund – and your local bank teller is not qualified to give such advice.

You need to make your first Will and get an understanding around the relationship property rules.  A good lawyer will help educate you on the basics. (As part of our role, we team you up with the right people, to support you on your financial journey.)

Lastly you need to get your insurance in order. If you’re off travelling or working outside of New Zealand, getting insurance set up is vital. The sad fact is, if you work globally and something goes wrong, financially you can be clobbered.  The good news is this isn’t a costly exercise. 

Quality, objective financial planning advice pays dividends.  It’s also empowering you to take control of your own life – getting the basics tidied up to bring you peace of mind – freeing you up to go and live your life, however that looks for you.  An initial chat is always free of charge, so it’s well worth a call to us at WealthDesign, to tee something up. 

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