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FAQ - Life cover
Do you want help with common questions about Life Cover? Read More Below
Why do I need life insurance?
Life insurance provides financial protection for your loved ones in the event of your death. It can help cover expenses such as funeral costs, outstanding debts, mortgage payments, and education expenses, and provide income replacement for your family.
How much life insurance coverage do I need?
Determining the appropriate amount of life insurance coverage is a personalized process considering several factors. These include your income, outstanding debts, anticipated future expenses, and the financial needs of your dependents. As part of our advisory process, we meticulously analyze these aspects to ascertain the optimal coverage that suits your specific circumstances and provides adequate protection for your loved ones.
How do I choose the right insurance company?
As a financial adviser, I conduct independent research and compare insurance companies in New Zealand. I consider financial strength, customer service reputation, policy options, and premium affordability. I provide detailed research reports to help clients make informed decisions about life insurance coverage.
Who will get the claim money after I Die?
Once you pass away, the funds from your life insurance policy are usually given to the beneficiaries that you have designated in the policy. These beneficiaries can be individuals or entities, including family members, loved ones, or charitable organizations. It is important to regularly update your beneficiaries to ensure that any changes in your circumstances or preferences are reflected in the policy.
What if my premiums increase?
Understanding the reasons behind your premium increase is crucial. In the insurance industry, some policies have premium increases linked to inflation, product pricing, and age. However, we offer policies with guaranteed locked premiums for a set period. With our expert advisory process, we conduct a comprehensive analysis to present you with these options and help you choose the policy that best fits your specific needs and desires.
FAQ - General Process
Check out some helpful question answer about life insurance and its terms!
During the application process, it may be necessary to undergo a health check based on your health declaration. The insurance company may conduct medical underwriting to evaluate your application. This may involve contacting you or your doctor to gather additional health information for assessment purposes. It is highly advisable to cooperate with this process to ensure accurate disclosure, as it helps streamline the claims process and reduces the likelihood of any complications or disputes during claim settlement.
The underwriting process is free of charge. Our advisory services are also provided free of charge and are designed to assist you in purchasing insurance from the insurance company. As part of our commitment to transparency, we will disclose any commissions we may receive during the appropriate stage of our engagement, in accordance with our disclosure requirements.
We understand that circumstances can change after purchasing insurance, even a year later. We conduct regular policy reviews to ensure your coverage remains current. These reviews help us assess any changes in your situation and make any necessary adjustments to your policy to ensure it continues to meet your evolving needs.
We are dedicated to providing you with the best insurance policy possible, and we want you to know that we're always available to help you make any changes you need. Whether you want to update your direct debit details, switch up your payment frequency, or add or remove coverage options, we've got you covered. Just give us a call, and we'll make sure your requests are submitted to the insurer right away. Of course, processing times can vary, but we'll keep you in the loop and let you know the estimated time it will take to implement the changes you've requested. You can count on us to take care of everything - we're here to make your life easier!
Deciding to change your insurance provider can be a challenging task that requires careful consideration. You must assess your current provider and the advantages they provide. Prior health conditions that may not be covered by a new provider must be kept in mind before making any changes. Furthermore, it is essential to recognize any possible loss of benefits while transitioning. Our company works diligently with you to comprehend your present coverage, so we can offer informed guidance on whether switching to a new provider is the best decision for you.
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