Partner With a Trusted Insurance Advisor
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.”
With budgets tighter than ever, many people feel forced to overlook insurance. However, this oversight is a risk. Ensuring appropriate coverage, including vital income protection insurance and trauma insurance, and relying on a professional insurance advisor are essential.
Ask Yourself the Following Questions:
What are three major risks to my family’s financial security?
These include the inability to work because of a long-term accident or illness, the need to find large amounts of cash to fund medical care, and premature death.
Do I really need a personal insurance plan?
The answer may surprise you. Five out of ten men and seven out of ten women are likely to become disabled due to an accident or illness preventing them from working for at least a month before turning 65.
In addition, 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. Therefore, there is a 33% chance that you will be sick or disabled for six months or longer before age 60.
The areas of most concern are heart attacks, strokes, cancer and kidney failure. At the same time, ACC does not cover four out of five long-term illnesses and disabilities.
How could I and my family survive financially if my income stopped for six months or longer?
Instead, adequate protection minimises the financial impact of catastrophic events. Using your hard-earned savings to fund MedSafe-approved operations or medication not funded by Pharmac could save your life and allow you to earn an income. However, what impact would this have on you, your family and your retirement income?
What Coverage Do I Take Out First?
At Lyfords, we recommend you set up your portfolio as follows:
Life insurance
(Read more about why and how much to have).
Income Protection Insurance
(Read more about what value it can add to your lifestyle in case of an accident that ACC does not cover or an illness).
Trauma/Living Insurance
(Read more about what this insurance is and the benefits it can provide – 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?)
Knowledgeable and experienced advice helps you make the best choices, saving you money and time and optimising your benefits. In addition, relying on data to drive your selections is vital.
The Importance of Using Independent Research
The job of a Lyfords adviser is to guide you in choosing the right policy and provide the information you need to make the right decisions. For example, it’s not good enough to be vaguely told you are covered for cancer. 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.
Instead, Lyfords purchases independent research on personal insurance to assist in selecting a cover that suits your needs. This research compares premiums from all major companies to see on one page if your product is good value. In addition, individual policy wordings of the insurance options are compared and analysed.
Use Lyfords for Long-Term Peace of Mind
Ask yourself, “Would I have known this without talking with an experienced adviser that can qualify their recommendations with independent research?” If the answer is “no”, remember the wise words of Winston Churchill and book your consultation with Lyfords today:
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