Authorised Financial Adviser, Lynda Taylor, reveals some common mistakes that she comes across when reviewing people’s protection plans.
Make sure you have the right people owning the insurance policy so that the money goes where it should.
- Not protecting your greatest asset – the ability to earn.
How long could your household manage without the primary income earner working?
- Cancelling the cover
Feeling brassed off that the premiums keep going up? Discuss your options before cancelling your policy. You may not get cover again if adverse changes in health have occurred.
- Too much life insurance
Circumstances change – You may not need the same amount of life cover that you did 5, 10, 15 years ago.
- APATHY – It won’t happen to me, but the statistics don’t lie!
- .01% chance of your house burning down and suffering a complete loss.
- 12% chance of passing away before the age of 65.
- 30% chance of being diagnosed with a critical illness before the age of 65.
Too many New Zealanders are prepared to take “a punt” with insurance. Professional, considered advice that is tailored to your unique circumstances is vital.
Call or email me if you would like to have a chat about your own protection plan.
021 667 934 or 09 213 3422
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