Common Questions and Answers

How much life cover do I need?

Enough to clear your debt and to leave your family in a position to maintain their current lifestyle. Contact us for more details.

Why do I need income protection?

Your ability to earn an income is your greatest asset. When your income stops the bills do not. As a minimum requirement you need to be able to pay for your outgoings. Contact us for more details.

How much will income protection cost?

This will depend on your occupation, your current income and the length of time you are able to manage without income.

What about ACC?

ACC only covers you for accidents. It does not cover you for illness related disabilities. Statistics say that it is more likely you will suffer an illness related disability than an accident related disability.

If I need surgery, why can't I go through the public health system?

If your condition is acute, it is more likely that you will be admitted through the public system. However, waiting lists are growing for non-urgent procedures and it is often not the best outcome if you have to wait.

If I've got medical insurance, why do I need other cover?

Medical insurance only covers the direct cost of surgical or non-surgical medical expenses. It does not cover you in the event of death, disablement or loss of income.

Why do premiums increase each year?

Premiums increase each year due to your increasing age and increasing sum assured if you have chosen an indexed benefit.

Why do I have to pay more because I smoke?

You pay more because of the increased risk of potential claim that smokers pose.

Do I have to have a medical exam and blood tests?

Only if the level of cover you require relative to your age is in excess of the insurer's non-medical limits or if you have a pre-existing condition that the underwriters want updated information on.

Why does the insurance company need to know my financial details?

Some benefits require financial underwriting and therefore proof of income or business viability will be required in order that the insurer can quantify the risk and offer terms relevant to your financial position.

What is a premium loading? What is an exclusion?

A premium loading is applied when an underwriter perceives that there is an additional risk factor due to a pre-existing medical condition or a more hazardous occupation. An exclusion is where a particular condition or injury is excluded because it is likely to lead to a future claim. Loadings and exclusions are reviewable.

Why are there limits to the amount of cover I can have?

Cover can be restricted by an insurer if they feel the level of cover is unjustified or not warranted.

Can a third party hold cover over my life?

Yes, provided you were aware that the policy was being issued on your life. Ownership of any policy can be assigned to another person or entity provided that the transfer of ownership is correctly completed and registered with the insurer.