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?
Enjoy your day,
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.
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)
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:
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).
Never bend your head. Always hold it high. Look the world straight in the eye – Helen Keller
We should remember that just as a positive outlook on life can promote good health, so can everyday acts of kindness – Hillary Clinton
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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