Insurance is one of those things nobody thinks about until they need it. The right cover, properly structured, means that when life goes sideways, your financial plan doesn't have to.
Book a free insurance reviewPersonal insurance isn't one-size-fits-all. I'll look at your situation, your income, debts, family, and lifestyle, and help you figure out exactly what cover makes sense, and what doesn't.
Pays a lump sum to your family or estate if you die. Provides financial security for the people who depend on you, whether that's paying off a mortgage, covering living expenses, or providing for children. The amount you need depends on your debts, income and dependants.
Pays a lump sum if you're diagnosed with a serious illness such as cancer, heart attack or stroke. Unlike income protection, it pays out regardless of whether you can work. Gives you the financial flexibility to take time off, access private treatment, or make lifestyle changes without financial pressure.
Replaces a portion of your income (typically 75%) if you're unable to work due to illness or injury. The most valuable insurance most people don't have. If your ability to earn is your most important financial asset, and for most people it is, this is the cover that protects it.
Covers your mortgage repayments if you can't work. More targeted than income protection, specifically designed to make sure you don't lose your home if illness or injury stops you working. Can be structured to cover the exact amount of your monthly mortgage payment.
Covers the cost of private medical treatment, specialist consultations, diagnostics and elective surgery. In New Zealand, the public health system will eventually treat most things, but waiting lists are long. Health insurance means you get seen and treated faster, on your schedule, not the system's.
Pays a lump sum if you become permanently unable to work in your occupation. Often bundled with life cover but can also be stand-alone. Particularly important if you're in a physically demanding job or if your income supports a family. ACC doesn't cover illness, only accidents.
Insurance feels abstract until you need it. Here are realistic scenarios with real numbers, the kind of situations I see regularly.
Mark is a project manager. At 35 he's diagnosed with bowel cancer and can't work for 14 months through surgery and treatment. ACC covers nothing, this is illness, not an accident. His employer sick leave runs out at 8 weeks.
Without cover: 14 months × $7,900/month net income = $110,600 shortfall. Savings gone, mortgage stress, partner back at work while managing two kids and a sick spouse.
Sarah bought her first home 8 months ago. She breaks her ankle in two places in a weekend football game. ACC covers 80% of her income, but her mortgage is $2,400/month and her ACC payment is $2,100. She's $300 short every month, plus everyday expenses.
Without mortgage protection: She burns through her $8,000 emergency fund in under 3 months. Starts missing payments. Credit rating damaged before she's 30.
Dave runs his own building business. In October, he's told he needs triple bypass surgery, off work for a minimum 3 months, then light duties only for another 3. No employees means no revenue. Fixed overheads of $4,200/month still come out regardless.
Without cover: 6 months × ($8,500 income + $4,200 overheads) = $76,200 gap. Business survives or it doesn't, either way, the mortgage is at risk.
Emma and James have just had their first baby. Emma is on parental leave. If James, the primary earner on $95k, died tomorrow, the remaining mortgage would be $714k. Emma's income alone ($50k) would not service the debt. The house would need to be sold.
Without life cover: Emma is forced to sell the family home within months of losing her partner, while grieving with a newborn. $714k of debt, a single income, no buffer.
A lot of people are either over-insured (paying for cover they don't need), under-insured (not adequately covered for the risks they face), or have policies with exclusions they're not aware of. None of those situations are good.
My job is to look at your actual situation, your income, your debts, your family, and your life stage, and work out what cover you genuinely need. Then I'll compare across the major NZ insurers and find the best product at the best price for your needs.
I'm paid a commission by the insurer if you take out a policy. This is disclosed to you upfront and doesn't change what I recommend, it just means my advice costs you nothing directly.
Free 30-minute insurance review. I'll look at your situation and give you an honest assessment, not a sales pitch.