Savvy Consumer s Guide. to Personal Insurance

Transcription

1 Savvy Consumer s Guide to Personal Insurance

2 CONTENTS Introduction: Personal Insurance What is Personal Insurance pg 4 Identifying Personal Insurance Needs pg 5 Current and Future Obligations Saving for our Children Reviewing your Insurance How much Cover do you Require Types of Personal Insurance Product pg 7 Life Insurance Health Insurance Insurance For The Living Trauma Income Protection Mortgage Protection Other Options Financial Planning pg 10 Why is Financial Planning Important and Valuable Consequences of not adequately planning? What Does That Mean? Cover For Pre-Existing Health Conditions pg 13 Do You Suffer Any Health Conditions High Risk Life Insurance Smoker s v s Non Smoker s Understanding Underwriting Criteria Personal Insurance Buying Tips pg 16 Choosing Your Life Insurance Policy Beneficiary (Owner) Reasons to Choose an Insurance Specialist They help you choose the right Insurance Company At no extra charge we will work through all of the Pricing Comparisons Our Specialists are here to walk you through each step of the process Helping you through a claim Consistent Follow Up

3 Introduction When a person suddenly dies or suffers a major trauma this usually causes major turmoil in many people s lives, those that are left behind can suffer a certain amount of hardship, whether it be a spouse, children parents or indirect family members who are suddenly lost. Without the regular income of the dedicated breadwinner in a family along with being forced to drastically and quickly change their living arrangements can be extremely stressful and in some situations people are just unable to cope with what they have just been struck with. There are a wide variety of needs that can be solved through Personal Insurance it gives clients that peace of mind and certainty knowing that the financial burden will be taken care of should the unknown happen to them or a loved one. By having a good understanding of the types of Personal Insurance that is available in the NZ Insurance world and the claim options it provides ensures that you and your family are well protected. With this guide you will get a clearer picture of where the right product helps fit into your overall situation today.

4 What is Personal Insurance In a broad sense it s where an insurance company agrees to pay you a lump sum of money if you die, become terminally ill or sick. It can also replace your income should you get sick or have an accident where you suffer an impairment or end up out of work - In return you pay the insurance company a premium which is a regular payment to keep the insurance company activated. When a claim is made financially you have the support to carry on paying those life line bills such as mortgages, car repayments, house & content premiums, electricity bills, food and the list goes on. Something to Think About General Insurance such as Home, Contents and Cars, protects PHYSICAL Assets however Personal Insurance protects our biggest asset US!

5 Identifying Personal Insurance Needs When purchasing one of the many Insurance Products, one of the primary decisions to be made is firstly which type of cover is right for me, how much money should I have myself covered for, which added benefits should I opt in and if a Life Insurance policy whom should those funds be paid too. Most people obtain good Personal Insurance cover for the purpose of providing financial security to loves ones and dependents so that spouses/partners, children, business associates or others who count on them for some type of financial support are not left struggling. With this in mind it is essential to come up with the proper amount of Personal Insurance needs. Current and Future Obligations In most cases people do not know exactly when they will need their Personal Insurance policy. This is why it is important to determine both current and future financial needs of those who will be affected should a horrific event end in death or the scenario of you, your spouse or child ending up being diagnosed with a major health issue or the major bread earner suffering injury which results in not being able to return to work either short term or long term. Your needs can be calculated by coming up with the following relative information; How much will be needed in the event of death in order to meet immediate financial obligations? If I was to be out of work for a period of time how long can I survive before I cannot pay any bills? How much savings do we have and can we rely on anyone to help us financially should something happen. In these cases all final expenses should be accounted for such as 1. Funeral Costs, 2. Living Expenditure most importantly mortgages, food, household bills, 3. Current Debts such as mortgages, loans or credit cards & 4. Future costs for example the cost of children s educational purposes or the priority of leaving money behind for grandchildren or other family members. How much future income will be needed to sustain the household of the survivors or how much will be needed for the family that requires the support to prevent loss of assets and prevention of a substantially lessoned lifestyle. While many of the calculated numbers may only be estimations it is still better than simply guessing at how much insurance is needed for your loved ones, as this could leave those left behind with far less than they actually require. Saving For Our Children It s all over the media and happening on a monthly basis housing prices are reaching new highs and New Zealand is at the stage where houses are just unaffordable in many areas to NZ s first home buyers. Parents are starting to incorporate this expense into their Life Insurance amount in hopes of helping out their children when they pass on to enable that kiwi dream of owning their own home. Life Insurance can be thought of as an asset and helping relieve financial strains on our young ones giving them a chance to get a head financially. Not only can it be thought of for children in the housing sector but also the promise that a child can attend a university or tertiary institution. By having a Life Insurance policy in place, the proceeds can be earmarked for a child s fund to further their education or get ahead in their own life without major loans or burden.

6 Reviewing Your Insurance Personal Insurance should be considered anytime there is any type of life changing event that occurs. Those people who currently have any type of policies in force should review their policy during these times in order to ensure that the cover is still adequate in light of an individual s updated circumstances. Some insurers offer No Underwriting Required if a client has experienced a major life event whereby they can increase the amount of cover they have so there existing insurance can remain relevant to their lifestyle needs. What are life changing events? These can be deemed as various milestones both happy & sad these include events such as getting married, changing jobs, starting a family, buying a house or getting a mortgage, venturing into your own business. This can also be included as losing a job, going through divorce, suffering the loss of a loved one ie a spouse. All of these events can impact the reliability of your insurance policies. One of the biggest life changing events that people go through is when they suddenly leave the world as an employee and step into retirement or they lose a spouse who has had a substantial contribution to the household. Reviewing ones policies regularly is vastly important if you wish to ensure your personal Insurance needs are met and the correct portion of cash flow or sum assured amount is insured to ensure the payment of everyday living expenses is met. How Much Cover Do You Require Once you have identified your need for Personal Insurance and worked through the steps of the best type of policies to apply for it is then essential to know how much cover is needed to ensure the right protection. Having too little cover can mean those loved ones you leave behind are not adequately taken care of. Yet having too much cover can also cause an individual to pay too much in unnecessary premiums. Narrowing down approximately how much life insurance is needed is vital so that early on down the track there is no need to suddenly want to increase ones cover whereby it may have to go through underwriting again. You also do not want to suddenly realise 2 years down the track that actually you realistically only needed to be paying ½ of that amount in premiums. With a little bit of fact finding from one of our advisors you can easily determine the needs of your insurance. This is done by answering several questions which assist in the overall picture of your financial situation such as assets, expenditure etc health situation and questions which look into the future to see how much you would need to survive. Life Plan offers these types of plans to any of our prospective clients - see our website for further details. One of our Authorised Financial Advisors will assist.

7 Types of Personal Insurance Life Insurance Life insurance is one of the most common Personal Insurance covers - it is simple and a less expensive form of coverage that pays out a lump sum to a policy owner in the event of death to the life insured. Life insurance is similar to any other type of insurance policy as it is a contractual agreement between the insurance company and the policy owner. The policy owner agrees to pay the accepted regular amount which is known as the premium. The insurer in return pays out the lump sum for any loss as specified in the agreement in this case it would be in the event of death. Majority of Insurers out their cover very similar benefits with the majority of these being as follows, you may come across some that are slightly different; Entry Ages Must be age 16 to be able to OWN a Life Insurance policy Claim payments are NOT taxable and premiums are not deductible Premium options RATE FOR AGE Premiums rise annually, LEVEL COVER Premiums are fixed in and do not change, LEVEL OVER 10 YEARS Over 10 years premiums are averaged out. Terminal Illness Pays 100% if the life assured is diagnosed as terminally ill and likely to die within 12 months Special Events Increase means you can automatically increase cover amount to a certain amount should your situation be going through one of the special events listed in the policy Bereavement Support A fixed amount is paid out immediately upon death of the life assured generally used to help support funeral arrangements to alleviate any stress at this time. Insurers also offer further optional benefits at a cost which you can opt in for to allow you to provide extended cover types under your Life Insurance Health Insurance There are several reasons to have Health insurance in New Zealand it provides a much greater degree of certainty than the public health system can alone. While we have a relatively good public health system, resources will always be limited and carefully managed by the government and unfortunately some areas in the public health system may not even be covered therefore you have to find the funds to pay it yourself which may not be able to happen. Because we can t predict what health problems will affect us or how they will impact our lifestyle we need to be prepared. In the public system patients generally have to sit on a waiting list and sometimes for long periods before they get treatment which could end up being detrimental to one s life. Individuals who want to be able to choose when, where and who treats them and have that certainty that help will be at your fingertips are those that will choose the various Health Insurance options available and there are many different options for many different budgets. Premiums can be minimized by increasing the excess amount that is the dollar amount that you pay up front before the Insurance companies will step in and take over. Available also are many different benefits that you may feel that you can or cannot live without at the end of the day it s choosing the right package that works for you and your needs.

8 Insurance For The Living Trauma Living Insurance is Personal Insurance which has been developed to pay out not when someone dies but when an individual is still living however unable to work and earn their normal income due to getting sick or disabled. Trauma Cover is the lump sum payment if the Life Assured suffers a listed condition which could be major or with the new Trauma product with some of the insurers some conditions which are deemed to be minor can also be covered with a Lump Sum Payout. The top health conditions that Trauma Insurance tends to pay out to their clients are due to Cancer, Heart Related Conditions, Strokes, and Neurological issues. However there are many many more conditions that are considered when looking at what is covered. Trauma product in the NZ insurance market has changed dramatically during the year of 2013 & 2014, insurance companies have seen the need requirements change. They have allowed for less severe conditions to become available for claims, therefore better for the client as they have more options and have a better chance for future coverage. Trauma product is also becoming so much more cost effective and is seen as another less expensive cover. This is a product that depending on your needs will depend on which insurer will best suit your circumstance as the benefits do differ slightly, our Insurance Specialist can help you in this area. Income Protection If you had an accident or illness and were unable to work would you still have the income you and your family need to survive without any major set-backs? Income Protection provides you with a monthly payment if you were unable to work due to illness or injury. With this particular cover there are many different variables to consider as it is not a lump sum payout benefit it is known as a benefit to help replace your income so you can still survive financially if you were to suffer an injury or illness which forced you out of work for a period of time. Many factors to consider when looking at this type of insurance things to think about are, how long can I survive without any income, should I consider agreed value or the indemnity value option, what time frame should I consider having the pay-out period run to, no-one knows the future. Our insurance specialist will be available to help you answer these questions. Mortgage Protection Mortgages for home owners is considered as their number one debt and can be crippling if payments cannot be made, we all know the consequences of this happening. Mortgage repayment insurance cover can help you protect the regular monthly mortgage repayments on your home, or with some insurers even your investment properties. Should you suffer an accident or illness, or you are hospitalized then one of your biggest asset debt is covered your mortgage. Mortgage Protection works much the same as Income Protection however pays your mortgage repayments therefore safe guarding your existing savings and investment and not going through the hardship of losing your valued home.

9 OTHER OPTIONS There is generally a cover for most types of scenarios however listed above is a general feel for cover in the event of death as well as protecting people that suffer a trauma of some type putting them out of work while they are still living. Household Cover Similar to Mortgage & Income Protection the household cover is available from selected insurers and allows for a regular payment to be made to aid in paying any of the household expenses. Redundancy Cover Today there is no such thing as a secure job or secure employment. In our fast paced modern day society many companies are constantly restructuring looking to save and make more profit. Unfortunately being made redundant is an everyday occurrence these days and a way organisations cut costs or shake up their current employee force. Reasons to consider Redundancy Cover: If you don t have an income you may have to take the first job offer It could take several months to find the right job again How long could you survive without any income while you are looking for a new job? Redundancy cover will help protect you financially until you are in paid employment again.

10 Financial Planning A Financial Plan is a comprehensive evaluation of someone s current and future financial state by using a list of questions and variables to predict future cash flows, asset values and withdrawal plans. A plan will include a budget which organizes an individual s finances and sometimes includes a series of steps or specific goals for spending and saving in the future. The plan also allocates future income to various types of expenses, such as mortgage, rents and day to day fixed living costs, and also reserves some income for short-term and long-term savings. A financial plan can also be referred to as an investment plan, but in personal finance a financial plan can focus on other specific areas such as risk management, estates, college, or retirement. As a client of Life Plan you are also entitled to a free Financial Plan valued at $1500. This is a very important value added offer to only Life Plan clients that you should take up immediately because not only are Why is Financial Planning important or valuable? A Financial Plan is important to help ensure the financial security of your future or specific goals that you envisage to happen. Research has shown that New Zealanders are one of the worst insured countries in the western world we are also one of the worst saved countries through investments outside the family home. As a potential client of Life Plan we would like to offer you a free Financial Plan valued at $1500, simply because we see the value add this offers to households and we are here to help you protect your future. Consequences of not adequately planning? The consequences are most New Zealanders are not insured adequately or properly, at some point in their lives they will incur a life changing illness, disease or accident. This will have dire financial consequences on their families and their lives. Also most New Zealanders do not engage in any financial planning to set up investments and plan for any cash emergencies for the now or retirement. They do not regularly contribute to any of them, therefore they go through life with less money, higher risk of something going wrong, and they retire with far less wealth than they should have.

11 Just imagine being made redundant tomorrow. Your regular income stops but the bills keep rolling in every week. Mortgage and rent repayments, groceries, power, car bills, doctors everyday living expenses carry on. The stress of being made redundant and not having money to live on could be considered one of the worst situations to face. Luckily there is a specific insurance cover in the market called Redundancy or loss of job cover. This will pay you up to six months of income if you are suddenly made redundant from your job, which will hopefully give you enough time to find another job and get that regular income coming back in. Not all insurers have Redundancy Cover as a standalone product so we can help you find those that do or ensure it is incorporated into your current cover. Business Insurance Business insurance is one of the most important and under resourced insurance protection covers available for businesses today. There is also quite a lack of information and knowledge about the different types of business insurance available to New Zealand businesses. It s something probably most business owners have thought about but don t know where to go to get any relevant information that is right for you and your business. It s all just too hard and time consuming. As business owners you spend vast amounts of time, energy, stress and money building your business all with the possibility you could lose your business if something goes horribly wrong and you and your business are not covered. Also your business is constantly changing, growing, merging, new partners and key people, diversification into new markets and products. You need to have a good expert insurance specialist that moves with you and will help advise you with the changes to your business insurance needs. For example If we take a look at what happened after the Christchurch earthquakes many businesses had to close their doors permanently because they didn t have business insurance or had inadequate cover to help them while they regrouped and got back on their feet. For many it was too late they simply ran out of money. So if you feel uneasy or unsure with what you currently have protected within your business or simply have no cover than one of our business specialists can guide you through the correct channels of protection.

12 These are just a few of the many covers available to you. Business Asset Insurance This is your base cover that protects your key physical business assets from sudden and accidental physical loss or damage. You can then add optional cover for Business Interruption or Liability. Business Interruption Insurance Once you re sorted for Business Assets cover you can then choose to add Business Interruption cover. This can protect your business s income if you can t operate as usual. Business Liability Insurance Also with Business Assets cover you can choose to add our Liability covers. Sleep easy knowing your business can be covered for general, employer s and statutory liability. Commercial Vehicle Insurance Vehicle insurance for Kiwi businesses. Created to cover most vehicles you use in your business car, van, ute, truck, trailer, bobcat or forklift. Key Person Cover As a business you can take out an insurance policy on any key person in the business. This person might be instrumental to the business and its results and if anything were to happen to that person the business would face dire financial consequences. It could be the owner or very skilled employee.

13 Cover For Pre-Existing Health Do You Suffer Any Health Conditions When applying for any form of Personal Insurance a person s health situation is certainly an important factor when insurers are trying to determine whether or not they will get accepted for cover or not. Also a person s health situation plays a role in whether or not they will have any premium loadings or exclusions to certain areas. When someone has an adverse health issue it could deem them as being a high risk in comparison to someone else with the same age and gender with no medical history and in good health. However just because someone falls into a higher risk bracket than the average standard person applying for insurance does not mean that they will not be approved for any type of insurance cover. There are many factors the insurers take into consideration when assessing ones application if you think of your application as a detailed portrait so the more information that is gathered the better looking it becomes and decisions can be made a lot easier and a lot more accurate. If you do suffer from any pre-existing conditions talk to us as something that you feel is severe may still get accepted with special terms, the most important factor is to ensure number 1 is looked after and that is you. High Risk Life Insurance Obtaining insurance when you do have severe health conditions can be disheartening and some people that may have thought their condition to be minor soon discover their condition is far worse than they thought and they may not get accepted. In this event my advice is to talk to our specialists to look at what other options there are available to meet your Personal Insurance needs as there is generally alternatives to suit you. While all insurers consider an applicant s overall health when going through the underwriting stage, insurers will often at times use different methods for qualifying individuals. Therefore while one company might decline a policy application another insurer may accept them so if you think you are a person who may be at high risk and think you may not get Personal Insurance due to your health you will not know the answer unless you apply and offer up all relevant details which may even surprise you. Smokers v s Non-Smokers In addition to an applicant s health condition, life insurance underwriters will also take a close look at lifestyle decisions that can affect one s health such as heavy alcohol consumption and smoking. Smokers are known to pay at least 50% more on premiums than what a non-smoker would pay for Personal Insurance coverage. This is mainly because of the causes of what smoking does to a person s health and the fact that they have shorter life expectancies than a non-smoker, research shows that a smoker will reduce their life expectancy by 7 to 8 years. Smokers are more susceptible to Cancers the main one being Lung Cancer and they have a higher chance of cardiovascular disease and emphysema, so in the insurers eyes they anticipate that it will have to pay on the policy much sooner than that of a non-smoker, so we can see why smokers get to pay a higher premium. However if you are a smoker and want to bring your premiums down all you have to do is stop smoking for 12 months or more and let us know and we can organize to get your premiums updated, just be sure you definitely have not picked up a cigarette within that 12 months.

14 Understanding Underwriting Criteria Everyone who applies for Personal Insurance is assessed for coverage by the chosen insurer who determines how insurable you are that is ones risk level and at what cost this being the set premium price. The process begins when you decide upon the best fit of insurance for your needs and you begin filling out the application with one of our specialists. On that application, you are asked a variety of questions this help s the insurer to determine your insurability based on your risk which is established from your health, parent s health and lifestyle choices. IMPORTANT All information must be disclosed regarding your health, and any lifestyle choices such as smoking, participation of any dangerous activities and any other relevant details. You do not want to come to claim time and realise that you missed some important information out that should have been disclosed. Upon completing the application our Insurance Specialist will submit this to the underwriters who will analyse the information and determine if any further tests are required, in a lot of cases they do require historical notes from your doctor and you could also have a request to complete a medical exam. This is at the cost of the insurer and all of this information helps determine your risk assessment. Once the underwriters are happy with all of the information provided they will ascertain whether or not to accept you for coverage and if you will be at the standard rate or will there be loadings on the premiums due to certain factors or the possibility of exclusions on certain areas. Please take note that different types of product have different underwriting requirements for example you may have a particular loading or exclusion on your Trauma policy however this may not cause any loadings on your Life insurance policy. The underwriting process and take anywhere from a few days to a few weeks depending on how fast each part of the process can gather the information, whether it be from yourselves, your doctor or the underwriters. Once the decision has been made the policy can then be issued as soon as you have given authorisation that you are happy to go ahead.

15 What Does That Mean? This means firstly we are terrible at insuring ourselves properly and thoroughly. In our life time we seem to think nothing will happen to us in terms of sickness, illness or accident and if something does go wrong the government will look after us through ACC and the public health system will take care of me. In the past this may have been the case in certain situations but those days are fast changing, we need to be more proactive and responsible for our own lives as individuals and make sure we have adequate risk insurance cover in place at all times. Only this will guarantee protection for our families and ourselves. Secondly we as a nation and individuals are terrible at saving and accumulating wealth through investments outside our own homes. We again have the old saying I ll be right the government will pay me a pension at age 65yrs. With an aging population those days are also numbered, also how can anyone retire comfortably on $300 a week that will most likely be pushed out and taken away eventually. If we have a plan we can easily identify our investment retirement goals and put something in place working towards achieving those for today and into retirement and we will feel more comfortable when that time comes. Prudent Financial Planning comes in two equal forms that encompass each other. Risk Protection (insurance) and Wealth creation (Investments). If you go off and get your insurance through an insurance specialists, through the bank or direct to the insurance company you have only completed half the puzzle. Insurance companies and insurance advisers cannot advise you on investment planning so you are a boat rowing with one oar. At Life Plan we have qualified Financial Advisers (AFA) that are legally allowed to give you insurance and investment advice. We are happy to sit with you and personalise a plan for you that will encompass and neatly tie in both your wealth protection and wealth creation. There are only a handful of Authorised Financial Advisers (AFAs) throughout New Zealand, many are located at private banking in the banks or large investment houses. At Life Plans we have them and offer these services to our clients.

16 Personal Insurance Buying Tips Choosing Your Life Insurance Policy Beneficiary (Owner) Life Insurance is the highest form of integrity that can be offered to your loved ones and it shows that the insured intends to contribute financially even after they have passed on. We all want to take away as much heartache and the day to day pressure s that our loved ones will endure in the event of ones death to the best that we can. With this in mind the primary beneficiary is the person who will receive the policy s death benefit and who will be paid the entire amount of the pay out by the insurance company. There can be multiple beneficiaries which means it necessary to divide how the benefit will be received and there is no right or wrong way to do this as all situations are different and it is dependent upon the family s specific goals and needs to work through the best plan for its beneficiaries. For most married individuals, a spouse will be the most logical beneficiary. A trust may be a beneficiary choice should a surviving spouse not have the ability to manage a large sum of money. The trustees (often a legal entity rather than an individual) would then take charge of managing, investing, and disbursing the policy proceeds for the benefit of the surviving spouse. You may also be directed to advise secondary beneficiaries, this means that if the primary beneficiary predeceases you, the insurance proceeds will go to the secondary beneficiary this could be another trusted family member or even a trust. Be sure though that these decisions are for you to decide as all circumstances run very differently with no correct answer apart from what you and your family need to survive.

17 Reasons to Choose an Insurance Specialist They help you choose the right Insurance Company Many factors go into choosing the right Insurance Company for your specific needs and again not all individuals will choose the same insurer, your neighbour may refer a great insurer however you find that they are not the right fit for your particular circumstances. Because Personal Insurance is a long term and in a lot of cases a life-long commitment you will want to make sure that you are selecting a provider that will meet your needs and also a company that has proven history of financial stability and also some people find it imperative that their chosen insurer are a local NZ company. It won t take long for our Insurance Specialist to get an idea of which Insurance Company will be the best fit for you, once they get an idea of what it is you require and what your needs are things will start falling into place. At no extra charge we will work through all of the Pricing Comparisons When considering an insurer for your Personal Insurance coverage you will of course want to review the company s premium pricing, however this certainly is not the first factor to consider as not all companies offer up the same policy wordings and value added benefits. We educate our clients letting them know it s not about choosing the cheapest product but choosing the most reliable product and the best product security for your needs. We speak to too many people out there that have gone with the quick fix of shopping around themselves basing their insurance coverage solely on the price factor generally signing up on line and they have missed all the added benefits that they would otherwise of known about if they had received the expertise from an Insurance Broker or Specialist. Of course we take into consideration your budget but we also incorporate getting the best coverage for your dollar as well. Our Specialists are here to walk you through each step of the process When applying for Insurance the application booklets are overwhelmingly large with a number of different questions. Most of the Insurance Products are situated in the one booklet so knowing what is and is not required for your type of cover is imperative especially for a client who looks at this for the first time. What you don t want to do is start filling out pages and pages of information when it is simply not required for the type of cover you have decided upon. Luckily we will guide you through this and take away any anxiety or time consuming questions otherwise not needed. Helping you through a claim It is invaluable having a point of contact that you trust when working your way through a claim for many it is an emotional time and hard work when your mind it not fully aware of the overall process of a claim and at times its not consistent with just a phone call to get things squared away. This is where we offer up personalized care to our clients and do what we can to help guide you through the claims process with your chosen insurer. Consistent Follow Up Ensuring you will always have the adequate cover needed is a top priority, so it is important to ensure contact is made should any major events take place in your life and an assessment of your insurance can be reviewed. Other than ensuring a yearly review has been offered to you we also keep you in the loop with any exciting things happening within the insurance industry or any major product changes taking place that could affect your policy. We also like to involve clients with a little bit of fun and competition giveaways just to help you brighten up your day from time to time.

18 Choose Life Plan for a FREE Consultation & Fun Service What makes us different? We have a goal to provide personal individual advice and build life-long relationships with our clients. We take pride and effort into employing the right staff and ensure we employ awesome individuals through our vigorous recruitment program. We aim for personalized service which is that much different from the large insurance and banking institutions where you are just a number among the large amount of other clients they have. We take our clients very seriously but also like to ensure they are happy and have some fun. Snap shot of our process Contact will be made with our trusted advisory team, to talk through your needs and the ideal protection plan. We then begin the process of putting quotes together finding the best company that suits your circumstances. Your dedicated insurance specialist will walk you through the quote and all of its detail to finalize the best protection plan for you and your family. Happy with this? YES! We will take the hard work out and assist you in filling out the application forms and our team will submit the application for you and get the ball rolling with the chosen insurer. From here we liaise with you while it goes through the underwriting process. Once accepted we like to keep in touch with you every 6 months to ensure situations haven t changed and you are happy with your insurance set up at all times. Best of all contact us anytime with any questions leonela@lifeplans.co.nz