The good old kiwi saying “She’ll be right” – right? Well sometimes ‘she’ might not. That’s why it’s important to take a good look at life now. If others depend on you, then you need to think about how you could cope if something went wrong and if you were not able to support them in the same way. 

Partners, children, parents: it’s about them. It’s about giving some peace of mind and knowing that what you have put in place will protect and help them if required.

Here are some things that you should consider:

• Will

Having a will needn’t take a long time to organise but it does help provide for family members if we die, and state how we want to distribute what we own. Wills also let us specify someone we would like to look after our kids or to leave special gifts and meaningful things to people or organisations we choose. Dying without a will can cause a lot of unnecessary stress and cost for the people we leave behind (Read more HERE)

• Life Insurance

We have all heard about life insurance but this is not something that you should dismiss. Life insurance provides a lump sum of money if you die. In some cases a portion or the entire ‘sum insured’ is paid out before you die if you are diagnosed with a terminal illness. It is an insurance that should be considered especially if you have a mortgage on a house or a business loan.

• Powers of Attorney

None of us want to think about ‘the end’ but sometimes a power of attorney is needed if people lose the ability to make decisions for themselves.  An enduring power of attorney (EPA) is a legal document giving someone the power to act for us and make decisions on their behalf. There are two types: one for money and property, the other for personal care and welfare.

• Income Protection

The can do attitude is something that many New Zealanders possess but what if you can no longer do and you are unable to work. This is when income protection insurance will pay a percentage of your income for a certain period if you suffer from an illness or injury that prevents you from working. 

• Trauma Insurance

Trauma (also called critical illness) insurance, provides a lump sum if you suffer from certain illnesses or injuries such as cancer, heart disease or paralysis. It is an insurance policy that gives much relief if you need it, not only financially but it gives the family some breathing space to be able to come to terms with the situation.

• Disability Insurance

This is a similar insurance to trauma insurance in that it pays out a lump sum if you are totally and permanently disabled through sickness or accident. Again this is an insurance that you might want to consider if you have an active job.

If you are interested in any of these insurances then you are best to speak to a financial advisor who can talk you through all your options and give you as much information as you need. An advisor will know all the different policies and can aid with your decision making enabling you to choose the right policy for the right stage in your life.

If you would like to speak to an advisor then please contact us on info@fdgl.co.nz or give us a call on 09 486 6528