A brief explanation of the types of life cover available. Note that not all are for everyone. Getting the right mix for your family and circumstances is very important.
Health Insurance: Public hospitals only give you priority if its life threatening, so if you want to avoid waiting lists for elective procedures like hip and knee replacements, then health insurance is required.
Life Insurance: This is the base cover all should have. It provides financial security for your family in the event of your death. Trauma cover is a lump sum pay-out in the event of you having to take prolonged time away from work due to cancer, a stroke or heart attack, among other reasons.
Income Protection can do a similar job to Trauma, but this pays out 75% of your current income if you ha e to take a prolonged time away from work. Remember that ACC only pays if it’s due to an accident, not an illness.
Disability Cover is an often overlooked policy that covers you for a long term permanent disability such as losing a foot due to diabetes.
The policies listed above have been designed for specific purposes and for specific circumstances of families. Ask me about the most appropriate mix for you. No two families are the same and before you ask, they don’t have to be expensive.
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