Keep in Touch – January
January 25, 2021
Important Information About Us
March 15, 2021Keeping in Touch – February 2021
Client Newsletter
February is the month when Summer is still with us, but we have to speed up our casual holiday pace and readjust to the routine of work, school and general home life.
If 2020 taught us anything, it was the importance of our families and keeping ourselves well and in good health. It also made us focus on our finances and what we’d do if we were seriously ill and unable to work. How would this affect our families?
Many of our clients have some level of cover: Life, maybe a little Trauma, Income and/or Mortgage Repayment Cover. But will this be enough should the worst happen? You should talk to us about double–checking your payment term and your actual repayment amounts, so that you know your cover will support you in an unexpected event.
One thing I have noticed with the claims we have paid out recently, is that clients are happy, but when it comes down to it, they always wish they’d taken out more cover. Something to be considered?
In this issue we’ll be looking at:
• Facts About Protecting your Income
• 6 Ways to Support Small Business – For Free
• Diabetes
• Nib’s Top 5 Claims – November 2020
Enjoy your day,
Paula Jones
Facts about protecting your income:
Source: Financial Advice NZ Team
May New Zealanders’ are just realising that your ability to earn is your greatest asset, and right now that ability is under enormous pressure. There is confusion about what type of insurance protects your income if you were sick or injured verses redundancy.
While most income protection policies cover you for COVID-19 sickness, you need to check the specific details of your policy as you may recover before any payments could begin. Your Income Cover will not cover healthy people who are unable to work due to lock down, self-isolation or if you lose your job through redundancy.
– Income protection insurance will pay out if you are off work because of illness or accident. It does not cover people because they have been made redundant.
–Some older policies may have Redundancy Cover
– What is a wait period? This is the length of time between you becoming sick or injured and when you start receiving actual monthly benefits.
– The wait period is the time you wait while you are disabled before your monthly payment begins. The longer the wait period the move you save on premiums.
– You should self-insure with your rainy-day fund to have enough available cash to see you through the wait period.
– The benefit period is the length of time your will receive your monthly benefits.
– The benefit period can be 2 years, 5 years or until the age of 65 or 70 – it depends on what option you selected. We recommend you look at increasing your wait period to age 70 if you can afford it.
This information is of a general nature and this is not intended to be personalised financial advice.
6 Ways to Support Local Businesses – For Free:
- Write a positive review
- Tell your family and friends
- Follow them on Social Media
- Engage in their Posts
- Give them a shout out
- Sign up for their Newsletter
Diabetes
Source: NIB
Most of us have friends, family members or colleagues with type 2 diabetes. This is not surprising, given the disease affects more than 400 million people worldwide, and almost 250,000 people in New Zealand alone (https://www.health.govt.nz/your-health/conditions-and-treatments/diseases-and-illnesses/diabetes)
The reported incidence of obesity growing (more than two billion people worldwide are overweight or obese), it is forecast 578 million adults will have diabetes by 2030, and 700 million by 2045.
Diabetes is our largest and fastest growing health issue we face in New Zealand. Diabetes is closely linked with heart disease (also known as cardiovascular disease or CVD), and together they are responsible for the deaths of more New Zealanders each year than any other condition. Many of these deaths are preventable.
People with diabetes have many complications that can impair their quality of life and reduce their life expectancy. A major problem for people with type 2 diabetes is high blood glucose, which if left unchecked and untreated, can cause the development of many serious health problems. Other stats that effect diabetes sufferers include:
- People with diabetes are up to four times more likely to suffer heart attacks and strokes
- They’re three times more likelyto suffer kidney failure
- Amputations are 15 times more commonin people with diabetes
There are three medicines that New Zealanders with diabetes currently get are Metformin (first used 1957), Sulphonylurea (first used 1956) and Insulin (first used 1922).
Nib’s top 5 Claims – November 2020
- Skin Cancer Surgery $54,880
- Skin Cancer Surgery $54,660
- Aortic Valve Replacement $54,160
- Spine Surgery $53,640
- Cardiac Surgery $52,920
Thinking out loud
Never bend your head. Always hold it high. Look the world straight in the eye – Helen Keller
Positive thinking:
We should remember that just as a positive outlook on life can promote good health, so can everyday acts of kindness – Hillary Clinton
Insurance:
Jones Insurance Claims paid from Nov 2020-Jan 2021, $318,116.62. We are always here to assist our clients at claim time.
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Free source and thank you:
Why Jones Insurance Consultants?
We are specialists who protect individuals and their families against the unexpected and the inevitable.
