Structure your Insurances and Mortgage

How to Optimize and Structure your Personal and Business Insurances and Mortgage for maximum success and happiness

Most people know exactly how much they pay for their personal and business insurance products, but don’t know what value they actually receive from their particular provider’s insurances.

On the other hand, whilst most people have a very good idea of the value they receive from their mortgage i.e. the value of their home and investment properties, they often don’t know the price i.e. the interest rate that they are actually paying.

In both scenarios, individuals and small business owners are often unaware that better value personal and business insurances exist, and more cost-effective mortgages are available to them. And most unfortunately, having inappropriate or incorrectly structured insurances and mortgages in place can leave them, their families, and business exposed to financial hardship and ruin.

• The real cost of inferior insurance products

The real cost of inferior insurance products can be shocking – a stuff newspaper article talked about an Australian man whose insurer declined his claim for a heart attack because it did not meet their strict guidelines.

What is most concerning is that:

New Zealand insurance expert Russell Hutchinson from Quality Product Research, studied which New Zealand policies would have made full, partial or no payout in the Australian man’s case. He found Partners Life and eight other policies would be likely to have made a full payout. ASB, Sovereign and Onepath (owned by ANZ) would be likely to have made a partial payout, and policies including Westpac’s would be likely to have made no payout at all.

The value of insurance is that you are paid at claim time when you suffer an illness or injury – but many people only focus on the cost of insurance, which can leave them, their families, and business unprotected. Don’t let this happen to you.

• The real cost of not utilizing the correct mortgage strategy to support your insurance strategy

Most people are joined up to the bank that their parents used, and forever more view this relationship with their bank as a lifetime commitment. This loyalty only works in the bank’s favour unfortunately.

This results in individuals and business owners paying much higher interest rates than they otherwise should, taking away their ability to fund holidays with their family, invest in assets for their future wealth, and their ability to afford the best-value insurance for the long term.

There are countless stories of clients only being able to pay for the cheapest insurance available, or being forced to cancel their insurance because they can’t afford it anymore, particularly as they get older – yet they don’t see how they can easily free up the required funds to afford the best-value insurance available by looking at their mortgage and insurance together, and structuring them correctly. Don’t let this happen to you!

What you should do

Swainwoodham (www.swainwoodham.co.nz) have been in operation for over 40 years, and have helped thousands of clients achieve their goals. We provide unbiased advice, are independent, and want to see all of our clients achieve the happiness and success they deserve.

Contact us today for your complimentary review of your insurances, mortgage and kiwisaver.