Monday, March 5, 2018

Financial News Roundup March 2018


1. Auckland Maori Hapu to provide free health insurance for its members. - NZ Herald

Auckland based Ngati Whatua Orakei has joined with NIB to provide its members free health insurance in an arrangement that is likely to cost around $3 million annually.  

2. Thousands of recently built homes covered by liquidated CBL Insurance. - Stuff.co.nz

The Insurance for thousands of recent homes covered for shoddy building practices could be put into limbo as CBL Insurance has officially gone into liquidation.

3. What went wrong at CBL? - NZ Herald

In a follow up to the previous article, the Herald looks at what factors surrounded the collapse of CBL and how it went from a trusted insurer to liquidation in the NZ marketplace.

4. Home Insurers crack down on Meth Claims. - NZ Herald

As overall claims for methamphetamine related damage increases year over year, insurers have greatly hiked excesses for meth claims and premiums to curb losses.

5. Kiwisaver fee drop 'missed the mark'. - Good Returns

A review of the default fees for KiwiSaver providers led to only two of nine major providers changing their fees in response.

6. Partners Life introduces a new range of level premium options. - Good Returns

Partners Life have introduced level premium (fixed premiums which remain the same until an agreed upon age) options for its suite of personal and business insurance products.

7. A bumper year forecast for mergers and acquisitions. - NZ Herald

Pent up demand following last year's elections may lead to a major year for acquisitions and mergers, industry insiders tip.





Tuesday, February 20, 2018

How Insurance/Investment can help your child complete their education.

When we think about our financial commitments and our debts, sometimes our child's education can slip by under the radar. Everyone knows about their mortgage, their utility bills and their credit cards, but how much its really going to cost to guide your child or grandchild through their education is often not figured into the equation. 

Private school or university fees can range from $5,000 - $25,000 per year, which is a substantial financial commitment and something worth thinking about. So if your child is starting or continuing their secondary or tertiary education in the New Year, here's what it might pay to take into consideration in your financial plan.


1. You May Qualify For Special Events Increases

In some insurance policies, special events clauses allow you to make changes to your insurance free and with no additional forms, checks or processes required. Having a child begin their secondary or tertiary education counts as one of these events under certain providers. This means that you can increase your sum assured or make changes to your plan quickly, easily and without stress. If you are a primary income earner who supports your child or grandchild as they go through their education, you can make sure that their education costs will be covered by taking the time to review and taking advantage of these clauses. 

We highly recommend taking the time to check with us if you qualify, or to review your insurance plan to make sure this new debt/liability will be taken care of and your child will be able to complete their education no matter what happens.


2. Review Your Existing Insurance Plan

If your child is starting or continuing their education it may be a prudent plan to conduct a review of your existing insurance factoring in these new financial commitments. We may find that some changes need to be made or may even be able to save you money, whilst still providing for your debts and making sure your child or grandchild has a safe, assured pathway through their education and into their chosen career. All our insurance reviews are completely free and no obligation, so you have nothing to lose.

3. The Benefits of Your Child Being Insured Early

In addition to thinking about your own insurance as your child/grandchildren start their education, its worth giving a thought to theirs as well. Getting a health and/or critical illness insurance policy in place for them has numerous practical benefits that can help make sure they and the family can overcome the financial obstacles illness or injury could present to their education and beyond.

Securing insurance cover young can mean:


  • Securing insurance cover young means cheaper and cost effective premiums.
  • Any conditions developed later on in life will be covered. Getting in young means less time for pre-existing conditions to develop which could mean possible savings of thousands or even tens of thousands in the long run. It meant exactly that for our team member who was diagnosed with Crohn's at the age of 20.
  • No exclusions, conditions or additional loading expenses in your policy.

4. Consider an Education Investment Fund

Our professional investment services can offer managed funds without a minimum starting amount - perfect for an education fund that can grow and prosper over time, eventually helping your child or grandchild finish their education successfully, without the burden of too much debt on their life. Backed by the most cutting edge research, we can consult with you and find the best option for your unique financial situation. If you want to get started or make an enquiry, just contact us today and ask a question or request a free, no obligation consultation.