Insurance Solutions

Tailored to Your Personal Needs

CALL LYNDA TAYLOR
| 021 667 934 | 09 213 3422

 

We understand that life is not black and white

And that’s why Taylor Made Insurance Solutions are here to help you plan for the unexpected and deal with the bumps in the road whatever life throws at you.

We are an Auckland based insurance advisory practice owned and operated by Lynda Taylor.

Our focus is on you  – ensuring that you and your family would cope financially in the event you become critically ill, unable to work, or suffer a premature death in your family. Our solutions include income protection, mortgage protection, health insurance, critical illness cover, life insurance and key person, to name just a few.

Your circumstances will change over time: increased mortgages, growing families, new jobs, redundancies, children leaving home, inheritances etc.

It is important to us that your insurances continue to meet your changing circumstances and needs – we have a range of services to suit almost everyone..

It is a privilege to work in this industry, having worked with clients through the claims process, we know that insurance can have such a huge impact on people’s lives when life is not black and white. A key part of our role is to work alongside you at claim time to make the process as straightforward as possible. We’d love to hear from you, whether you are an existing client or we are yet to welcome you as a new client.

Yvette, Auckland

She took all the pain and confusion out of which plans, and how much cover to get without breaking our budget

Charlotte, Auckland

I seriously found your help navigating the ins and outs of health insurance and matching these with my own needs invaluable

John, Auckland

She is one of the few people in her profession who will go the extra mile for her lucky clients

HOW WE CAN HELP YOU...

Tailored Cover

Many businesses put in place insurance to protect the value of their stock, the buildings and the motor vehicles. But what about the people that work in the business – that have key relationships with suppliers and customers, and years of knowledge.

We provide a range of business insurance options…

Debt protection

If a business owner suffers a severe disability or dies prematurely, the proceeds from a claim can provide you with the cash to repay all or a significant part of the debt.

For example, if as business, you have borrowed $1,000,000 to expand the distribution of your services, and one of the business partners dies prematurely or becomes disabled, the remaining partners will be left with all of the debt. Appropriate levels of insurance with the correct ownership structure protects the business, the business owners and their families.

Shareholder protection

If a business partner dies or suffers serious disablement, insurance can provide the funds for the remaining business partners to buy the shares from their partner or their estate.

How will this work?

It is really important that you have a buy/sell agreement in place that sets the rules as to what will happen if one of the partners is taken out. We would recommend that you get legal advice when setting up a buy/sell agreement.

Who owns the policies?

Generally the business partners will own the policy on their partners life and vice versa. It may however be prudent to have an independent trustee own the policies to ensure that the buy/sell agreement is honoured at the time the claim is paid.

Key Person

Who are the key people in your business?
How do you value their contribution to the business?
If they could not longer work in the business, what would be the impact on your cash flow?

We can assist you in determining what revenue a key person brings in to the business and what other costs would be associated with the loss of that key person – it may be recruitment costs – it may be the time it takes to get a new person up and running. An injection of cash at this time can cover these costs and reassure customers and creditors.

We are fortunate in New Zealand to have a public system that provides free health care.  We also have the Accident Compensation Corporation (ACC) which will pay for treatments if you have had an accident.

So why would you have private health insurance?

As our population ages, the waiting lists for care in our public system will likely increase as there is more demand for these services.  If you are suffering from a non-acute condition such as arthritic hips, cataract surgery, hernias, wisdom teeth, gall bladder removed (and many, many more) and you do not have private insurance you will likely go on a waiting list…. Your alternative is to pay for private health care.

Private health care may also provide cover for non-pharmac drugs .  These treatments can cost thousands of dollars and greatly improve longevity.  For many they are simply not affordable.

Health insurance gives you the option to seek treatment from a provider of choice, when needed and without concern for cost.

Trauma insurance

We all know someone who has suffered from a stroke, cancer or a heart attack. Life is not “black and white” when you are dealing with this type of critical illness. Everyone is different in terms of how they want to deal with their changed circumstances but most want to spend time with loved ones.

A lump sum of money gives you the choice as to how you deal with your situation. It can remove financial uncertainty and stress so that you can focus on your recovery. You may choose to pay off debt, take time out to “smell the roses”, seek alternative treatments – the choice is yours.

Trauma cover provides you with a lump sum of cash if you suffer from a pre-determined condition and survive for 14 days

Income protection insurance

How long could your household survive without your income?

Your ability to get up each day and earn a living is your greatest asset. If you could not work for 3 months, 6 months, 12 months, 5 years – what impact would this have on you and your family’s lifestyle today and in the future? All of the people I meet with insure their homes and their motor cars – yet the chance of your home burning to the ground is so very remote. The chance of being disabled due to an illness such as cancer or stroke is so much higher – 1 in 3!

If you are the main breadwinner for your family and you have limited savings, you need to protect your income.

Total and Permanent Disablement

To be told you will never be able to work again would be devastating. It is the worst possible thing to happen to you financially – statistically it is the least likely thing to happen to you.

Given it is not a common type of claim, the premiums are relatively low.

Mortgage protection insurance

It is a fact of everyday life that for the vast majority of people their mortgage is their biggest debt.

If you were unable to work, who would pay your mortgage? Do you want to risk losing your home if you were unable to work due to ill health or an accident?

Life insurance

Few of us expect to die prematurely – that happens to other people? Well ….

The fact is the chance of dying young is far less likely than suffering from a critical illness (refer back to trauma insurance) or a becoming disabled (refer to total and permanent disablement) for a period of time. The impact of premature death however is huge on the people you love and provide for.

You need to consider how your family would manage in the event of your death? Would they be able to live the lifestyle they enjoy now?

Wills and Enduring Powers of Attorneys

Taylor Made Insurance Solutions takes a holistic approach to your protection plan and as such we believe it is critical that you have your estate in order. Having an up to date will and Enduring Powers of Attorney are the cornerstone of a good estate plan. We are not experts in this field; however we are happy to refer you to someone to discuss these issues in detail. Below are some of the commonly asked questions that we field regarding estate planning.

TAYLORMADE DIFFERENCE

Why Choose Us

Insurance that delivers

You need the right amount of cover paid to the right people at the right time!  We can make that happen.

In order to do this we need to have a relationship built on trust where you feel comfortable discussing your financial situation and health with us.  We can then understand your financial risks and make recommendations that help you to mitigate these risks.

Key to any insurance is full disclosure at the time the policy is set up – this enables the insurer to accurately assess your application which means prompt, professional service at the very time you need cover.  We at Taylor Made Insurance will be there to help you at time of claim.

We make it easy for you

Flexible and convenient. We will travel to your home or place of work and arrange a time that is convenient for all those involved in the discussion and decision.

Affordable solutions

Part of our service is to understand your budget and have a respect for that in terms of the solutions we recommend.

Impartial advice

You want to know that your insurance adviser is not tied to any one insurance company. We have relationships with many of the major insurers in New Zealand and can research the best option for you

A comprehensive service

You’ll feel supported from the first meeting through to policy placement through to the final claim being paid.

Lynda Taylor

Lynda Ann Taylor

Owner and director of Taylor Made Insurance Solutions Limited.

Insurance is about giving you options when life is not black and white. We will ask questions about you and discuss your insurance needs to ensure that you have the right amount of money paid to you at the right time. In other words, we guide you through those tough decisions when life is, well…grey!. Simply – money gives you choice and dignity when the going gets tough.

Licence Information:

Taylor Made Advice Limited (FSP 704851) holds a licence issued by the Financial Markets Authority to provide a financial advice service.

Contact details:

Physical:
C/- MFAS offices
Level 3, 149 – 155 Parnell Road Parnell,
Auckland 1052

Postal:
PO Box 31 703, Milford, North Shore 0741

Website:
taylormadeinsurance.net.nz

D 09 213 3422
M 021 667 934

E lynda@taylormadeinsurance.net.nz

Nature and Scope of the Financial Advice Provided

Our Services:

  • Financial Advice
  • Risk Planning – Personal and Business risk
  • KiwiSaver, and investment products

Products I can advise on:

  • KiwiSaver
  • Life Insurance
  • Accidental death cover
  • Income Protection
  • Mortgage Protection
  • Trauma Insurance
  • Health Insurance

Insurance providers that I may recommend:

  • Accuro Health
  • AIA Services New Zealand Limited
  • Asteron Life Limited
  • Fidelity Life
  • NIB NZ Limited
  • Cigna Life Insurance New Zealand Limited
  • Partners Life Limited

Taylor Made Advice Limited does not generally provide financial advice on products not listed above.  However, some clients may have investments in other financial products. Where this is the case, we may provide advice on those products as part of providing financial advice to these clients.

KiwiSaver providers that I may recommend:

  • NZ Funds KiwiSaver
  • Generate KiwiSaver
  • Booster KiwiSaver

Referral Arrangements

  • Financial Planning and investment advice will be referred to MFAS (Medical Financial Advisory Services Limited).
  • Fire and General insurances will be referred to PIC.
  • Mortgage brokers can be referred to you if required.

Fees and Expenses

I passionately believe that New Zealanders need to have the right protection plan in place.  As such my service is provided to you at no cost to you.  I do not charge a fee for my time. Remunerations is derived entirely from commissions received.

I receive commissions from the relevant insurance providers if you choose to take up my advice and a policy is put in force. The commissions are between 100% and 200% of the first year's policy premiums. I will also receive 7% to 15% of the policy premiums for each year the policy is in force.

The commission I receive covers the business expenses incurred by Taylor Made Advice Limited, such as compliance, IT support, CRM system, PA support and professional indemnity insurances.

Please be aware that you may be charged if we were to place your cover with an insurance provider, and you then chose to discontinue with your insurance within the first 2 years of policy issue.  In this situation all, or a percentage of the commission received will need to be paid back to the insurance company by Taylor Made Advice Limited.  In fairness I ask that I can reserve the right to charge for the time that I put into ensuring your insurances are appropriate for you.  The fee for this service is $1,667.50.

How is this figure arrived at?

  • My hourly rate is $200. A typical plan will take 4 hours to prepare in terms of research and analysis of your needs. 
  • Travel costs and time are typically 2 hours.
  • A once-off administration fee of $250.

Total that may be charged $1667.50 – GST inclusive.

We will invoice you for this fee and it will be payable on the 20th of the month following the cancellation of your policies.  Details of how to make payment will be included in the invoice.

Note: There are occasions where my clients have no option other than to cancel; for example, they may have sold a business or received insurances as part of an employment contract.  In this instance the fee will be waived.

Taylor Made Advice Limited may charge a fee for financial advice:

  • where requested by a client, undertaking a specific assignment, for which an agreed consultancy fee may be charged. An example of this would be research into your options with ACC. This will be disclosed prior to the work being undertaken and agreed to in writing by both parties.

Conflicts of Interest, Commissions, and Incentives

Our financial adviser, Lynda Taylor is remunerated by way of a salary paid to her by Taylor Made Advice Limited. The income generated by Taylor Made Advice Limited is generated by commissions.

This may be seen as an inherent conflict of interest, but this conflict is mitigated by the following: -

  • We follow an advice process that is designed to ensure all recommendations are made on the basis of the client’s circumstances and financial goals, and are suitable for the client.
  • We are here for our clients and to advise you as best we can throughout the relationship – this is from the very first meeting through to implementation of your policy/ies, regular reviews, and if required, support at claim time.
  • Our advice is comprehensive – levels of recommended cover, premium structures, policy type and insurance provider are always well thought out and communicated to our clients.
  • We use independent and comprehensive research to assist us when considering the right policies for our clients.
  • Recommendations are not just based on this research regarding policy wordings but also clients health at time of applying, and our knowledge of insurers delivery at underwriting and claim time.
  • We are not required to place any level of business with any supplier or financial organisation. Taylor Made Advice Limited may be eligible for bonus payments from certain insurance providers.  Under this arrangement we have no obligation to meet any product quota or to recommend a particular provider.

From time to time our product providers may assist us with:

  • Training and professional development
  • Funding to assist with marketing activities.
  • Provision of software to assist in illustrating financial choices.
  • Invitations to lunches, sporting or other events of interest.

Duties

Taylor Made Advice Limited advisers, and anyone who gives financial advice on our behalf, have legal duties relating to the way that we give advice:  We are bound by the duties of the Financial Markets Conduct Act to:

  • Give priority to the client’s interests; by taking all reasonable steps to make sure our advice is not materially influenced by our own interests.
  • Exercise care, diligence and skill when providing advice.
  • Meet standards of competence, knowledge and skill set out in the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice); and
  • Meet standards of ethical behaviour, conduct and client care as set out by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we treat you as we should and give you suitable advice.

This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at www.fma.govt.nz.

Complaints Handling and Dispute Resolution

Even with the best of intentions, complaints sometimes arise. Taylor Made Advice Limited is committed to ensuring that all client complaints are handled and resolved in a professional, fair, and timely manner in accordance with our Client Complaints Policy and associated procedures. If you are not satisfied with our financial advice services, you can make a complaint by contacting us at:

Physical:

Lynda Taylor

E lynda@taylormadeinsurance.net.nz

D 09 213 3422

M 021 667 934

When we receive a complaint, we will try to resolve it immediately. We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do so.

We aim to resolve complaints within 10 working days if it is of a more serious nature. If we cannot, we will contact you within that time to let you know we need more time to consider your complaint.

Our External Complaints Procedure

If we cannot resolve your complaint, or you are not satisfied with the way we propose to do so, you can contact FSCL, an approved dispute resolution scheme who provide a free, independent dispute resolution service that may help investigate or resolve your complaint.

You can contact Financial Services Complaints Ltd (FSCL) at:

PO Box 5967, Lambton Quay, Wellington 6145

13th Floor, 45 Johnston Street, Wellington

  1. 0800 347 257
  2. info@fscl.org.nz
  3. www.fscl.org.nz

DOWNLOAD OUR DISCLOSURE STATEMENT

Licence Information:

FSP number:  9762

Mobile: 021 667 934

Landline: 09 213 3422

Lynda Taylor, your financial adviser is a salaried employee of Taylor Made Advice Limited.  Lynda is a director of Taylor Made Advice Limited which has a transitional license to operate as a Financial Advice Provider – FAP 704851.

Contact details:

Postal:
C/- MFAS offices
PO Box 31 703, Milford, North Shore 0741

Physical:
Level 3, 149 – 155 Parnell Road
Parnell, Auckland 1052

Website: taylormadeinsurance.net.nz

Phone: D 09 213 3422  M 021 667 934

Email: lynda@taylormadeinsurance.net.nz                              

Qualifications:

Bachelor of Business Studies

  • Diploma in Financial Planning
  • Licensed Financial Adviser

Experience:

  • I have been working in the financial services industry since 2006. I have been an adviser and director of Taylor Made Advice Limited since 2009, specialising in personal and business risk. For the past 10 years I have assisted clients with their KiwiSaver funds.

Professional Membership:

I am a member of Financial Advice New Zealand Ltd (FANZ).

Financial Advice Services and Products

Our Services:

  • Financial Advice
  • Risk Planning – Personal and Business risk
  • Investment advice – KiwiSaver only

Products I can advise on:

  • KiwiSaver
  • Life Insurance
  • Accidental death cover
  • Income Protection
  • Mortgage Protection
  • Trauma Insurance
  • Health Insurance

KiwiSaver providers that I may recommend:

  • NZ Funds KiwiSaver
  • Generate KiwiSaver
  • Booster KiwiSaver

Insurance providers that I may recommend:

  • Accuro Health
  • AIA Services New Zealand Limited
  • Asteron Life Limited
  • Fidelity Life
  • NIB NZ Limited
  • Cigna Life Insurance New Zealand Limited
  • Partners Life Limited

I do not have any contractual agreements with any one provider. I do however have preferential providers based on the benefits offered in their policies, performance at claim time, and overall service provided.

Duties

Taylor Made Advice Limited is bound by the duties of the Financial Markets Conduct Act to:

  • Give priority to the client’s interests
  • Exercise care, diligence and skill
  • Meet the legal standards of competence, knowledge and skill set out in the Code
  • Meet the standards of ethical behaviour, conduct and client care set out in the Code.

This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at www.fma.govt.nz.

DOWNLOAD OUR DISCLOSURE STATEMENT

HOW WE CAN HELP YOU...

Contact

Postal Address

PO Box 31-703, Milford
North Shore 0741

Office Location

149/155 Parnell Road
Parnell, Auckland 1052

FANZ