The Christmas holiday period is just around the corner and as you play for some well-earned downtime, Christmas insurance is probably the last thing on your mind. You may be going away on a vacation or just spending your days enjoying the outdoors but either way, you will want to know you have the best possible holiday insurance cover should anything go wrong this summer.
It’s never fun to consider what would happen to you and your family should you become too sick or injured to work.
But it’s something that New Zealanders do need to think about – after all, according to the Financial Services Council, almost 85% of Kiwis don’t have any insurance in place to protect them from loss of income. They also point out that ‘there are nearly one million households with incomes above $20,000 that would be vulnerable if they faced a long-term illness that stopped a major earner in the household working.’
Compare Mortgage Protection Insurance and Mortgage Cover – what’s the difference?
Taking on a mortgage is a big commitment; with the average first-time buyer taking out a mortgage of $400k, it’s likely to be the largest amount of debt you’ll ever have.
Keeping a roof over your family’s head is your number one concern; so it’s important to consider how your mortgage payments would continue to be met should anything happen to you or your partner.
Do you have a mortgage? Have you considered what would happen if you lost your job due to ill health, an accident, or if you or your partner passed away? In a worst-case scenario, the last thing you want to worry about is keeping a roof over your head. So, it’s worth considering how you can protect your home against life’s twists and turns. Ease Insurance’s mortgage protection insurance services can help.
Many of our customers often ask us what the difference is between income protection and redundancy insurance, and although they go hand in hand, they are not the same thing.
A question we are often asked by our customers is “Do I really need redundancy cover?” To this question, we ask the customer to consider what would happen if you were to be made redundant in your current position. Regardless of your salary, debts and assets or lifestyle, every person would be affected by a loss of a job. However, this might be in a different way than you think. While many people consider being made redundant meaning a month or two off work while you find another job, this is not the case most of the time. The job market is tough to break and while you may find your dream replacement job pretty quickly, there may be dozens of others who are after that same job. Therefore it is important to apply for redundancy cover today.
Before you run a mortgage protection insurance comparison it’s important you understand what home mortgage protection insurance is all about.
WHAT’S MORTGAGE PROTECTION INSURANCE?
In brief, mortgage protection insurance is a life insurance policy that covers your mortgage. With the right amount of cover in place, it ensures that you and your family will always have a home regardless of what the future brings. If you or your partner become too ill or injured to work, or if you pass away, your family will still have a roof over their head.
The world of Redundancy Protection Insurance can be confusing to navigate. But it’s essential that you do it right – your survival and wellbeing could well depend on it.
That’s what happened to Jeremy Walton. The company he’d been with for nearly a decade restructured three years ago. While they were appreciative of his contribution, they saw no way to bring his role into the new business structure. This was completely out of the blue and hit hard. Thankfully Jeremy had had the foresight to take out a Redundancy Protection Insurance policy a few years before this. He and wife Nicole discussed where to from there and made some minor adjustments to their lifestyle. Their relief was huge knowing their redundancy insurance cover maintained their mortgage repayments. Their bills were also covered for the 6 months that it took Jeremy to find another role that he felt was right for him.
January is one of the happiest times of the year in New Zealand, people are relaxed and letting their hair down, enjoying the summer break. The sun’s out, the water’s great and the barbeques are scrumptious. What could go wrong? After all, you plan, make lists, book holiday homes, and thoroughly look at every detail to create the perfect summer – however, the one thing no one really prioritises while enjoying this period is a thorough review of the life insurance protection and/or income protection insurance policies.
Unfortunately, it’s a fact that over the school holiday period nasty and unpredictable accidents can take place. While you can control how you drive, you can’t control how other people drive, therefore in order to be fully protected it is wise to contact your local insurance broker.
It’s time to realise that the world is changing very rapidly. This means less job security than ever as traditional industries downsize while computers replace jobs, and more tech-savvy younger people enter the workforce. Alongside the changing world, redundancy insurance protection has been gaining traction, because, despite unemployment levels dropping, job seekers aged over 50 are finding it harder and harder to find work after being made redundant. The truth is it now takes longer than a couple of weeks to find another job. With online job listings making each job application accessible to thousands of people, the hiring process can get dragged out to months. This is a scary fact seeing as nearly half of New Zealanders have stated they would be unable to pay their bills one month after losing their job.