Insurance advice

Insurance

“Prior to working with Lyfords I didn’t have a realistic financial plan for my future.  I have a professional career and I wanted a professional financial adviser to advise me.

Qualifications and experience of an adviser were important to me and advisers at Lyfords are both highly qualified and experienced.

With Lyfords I got my savings plan underway and have just managed to buy a house through Kiwsaver – just in time before the LVR changes came in!

What I like most about Lyfords is the personalised friendly service with tailored advice specifically to my needs.

I have recommended Lyfords to others because they are good at keeping in touch and keeping me up to date on financial matters as well as making sure I have the right insurance.  They are my one stop financial advisory firm.”

Charlotte Stephens

The three major risks to a family’s financial security are premature death, inability to work because of a long-term accident or illness, and the need to find large amounts of cash to fund medical care.

Do you really need a personal insurance plan?

Here are the facts, they are quiet surprising:

    • Five out of ten men aged 25 years old are likely to become disabled due to an illness or accident that will prevent them from working for at least a month before they turn 65.
    • With women, seven out of ten are likely to become disabled due to an illness or accident that will prevent them from working for at least a month before they turn 65.
    • Nearly a third of people unable to work for a month due to an accident or illness will be unable to work 12 months later.
    • There is a 33% chance that you will be sick or disabled for six months or longer prior to age 60.
    • Four out of five long-term illnesses and disabilities are not covered by ACC. The areas of greatest concern are heart attacks, strokes, cancer and kidney failures.

How could you and your family survive financially if your income stopped for six months or longer?

If you used your hard earned savings to pay for operations, or for medication approved by MedSafe but not funded by Pharmac that could save your life and allow you to earn an income, what impact would this have on you and your retirement income?

Insurance lessens the financial impact of catastrophic events.

“If I had my way, I would write the word ‘insure’ over every door of every cottage and upon the blotting pad of every public man, because I am convinced that, for sacrifice that are conceivably small, families can be secured against catastrophes which otherwise would smash them forever” Winston Churchill

What insurance do I take out first?

At Lyfords we recommend you set up your insurance in the following order:

Life insurance
Read more about why and how much to have >

Income Protection Insurance
Read more about what value it can add to your life style in the event of an accident that is not covered by ACC or an illness >

Trauma/Living Insurance
Read more what this insurance is and the benefits it can provide >

This is the story of Alison Renfrew’s kidnapping by a disease called cancer.

Medical Insurance
Why have medical insurance? >

Total and Permanent Disability insurance
What happens if you are totally and permanently disabled? >

The importance of using independent research

Lyfords purchases independent research on personal insurance to assist us with selecting a product to suit your needs.

    • This research compares insurance premiums of all the major companies so that you can see on one page if your insurance is good value compared to other companies.
    •  Individual policy wordings of the insurance products are compared and analysed.

The job of an insurance adviser at Lyfords is to guide you to choose the right policy and to provide you with the information you need in order to make the right decisions.

For example; It’s not good enough to be told you are covered for cancer. That is too vague. If you are terminally ill with a brain tumour can you expect to be paid a trauma benefit? Maybe. If your policy covers you for benign brain tumours yes, if not no.

Would you have known this without talking with an experienced adviser that can qualify their recommendations with independent research?

Contact us