Here at LifeDirect, we’re all about helping Kiwi families protect their financial well-being, now and over time. So, we asked our friendly insurance adviser Ben Laurenson to tell us a bit more about frequently asked questions, common misconceptions and more.
No question is too big or small
“Our quote compare tool is a good place to start, but we’re always here to answer people’s questions. For a lot of families, navigating their options can be overwhelming, so they contact us directly to learn more,” says Ben.
“Many like to know what insurance they may require, or how much of it. Whenever clients need us, we’re happy to get in touch and help put those families on the right track. One question can lead to another, and another, and we won’t stop until we are sure that they have a clear understanding of what they’re getting.”
How life insurance help Kiwi families
“The purpose of life insurance is to provide financial protection to make up for any income shortfall. So, people need to take out just as much life insurance to cover their needs, like mortgage repayments, replacement income or future children’s education. Less than that is likely to be not enough, more than that might be too much. And if it’s too much, they may be paying for something they don’t have a need for.
“The other common misconception is about stay-at-home parents and breadwinners. Many people assume that, because stay-at-home parents don’t earn an income, they don’t need life insurance. But the reality is, if they were no longer there, there would be a financial shortfall for the family. For example, the breadwinner may need to take time off unpaid work, or there could extra costs to pay for, like childcare or housekeeping.”
More and more Kiwis are looking into health cover
Interestingly, over the past two or three years many Kiwis have started to consider health insurance. “With the Covid-19 pandemic and the backlog in the public healthcare system, health insurance has come into the limelight for many families,” says Ben.
“We found that an increasing number of people ask us about it, and are seeing the benefit of getting health cover, as they can access private healthcare faster.”
With families, there’s a lot to protect
“The fact that we have a pretty good healthcare system, at least when it comes to acute medical care, and ACC covering us for accidental injuries doesn’t mean that everything is sorted. And that’s where insurance can help,” says Ben. “My job as an insurance adviser is to help people take care of the other financial what-ifs in life. With families, there’s a lot to protect and we can help them understand the big picture.”
Like to know more?
Our quote compare tool is great, but it's just one part of what we can do help Kiwis protect their future. We have a team of friendly insurance advisers on hand for any questions and support you might need.
Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.