Insurance in general is designed to protect a person, family or business from a loss that this person, family or business cannot cover, or in other words, cannot afford to lose. Personal insurance’s are designed for the same purpose, but protect that most important asset of all – the ability to earn a living.
A large percentage of New Zealander’s do not have the personal insurances they need because they simply do not think it is necessary. One of the most well known types of personal insurance is Life Insurance.
Life Insurance protects:
– A family or anyone with lives depending on them for sustenance
– A business that relies heavily on an individual in the company
– Shareholders of a company that may need funds upon the death of one shareholder
– An individual with debt and no assets to cover this debt in the event of death
Life Insurance is designed to protect those who are left behind should the unthinkable happen. But in some cases of terminal illness it can pay the insured sum before death, which can help relieve financial pressure at a stressful and upsetting time.
We often get asked the question when is it best to organise this type of insurance. With the above in mind, it is important that you are covered before your ‘risk’ is more than you, your family or your business can cover. The healthier you are the easier it is to get the cover you need.
As for who should take out this type of insurance: any person, family or business that relies heavily on the income generated from an individual, or work done by an individual, i.e. the bread winner of a family.
At Risk Solutions we’ve got your best interests at heart and appreciate this can often be a sensitive matter. We take the time to take you through the different policies and discuss in detail your best options. We ensure that the policy you select is set up correctly and as efficiently as possible and more importantly, at claim stage make sure you are treated fairly.
For more details on personal insurance policies, please do not hesitate to contact us for a no obligation chat.
