getting ready for summer
bEgiNNEr’S guidE
WELCOmE TO THE SUmmER ISSUE OF LIFELINES.
AS qUAlIfIEd fInAncIAl AdvISErS,
Everything looks a little rosier when the sun shines. With the warmer weather and longer evenings comes a new sense of optimism. It’s a great time to refocus on your goals, lose those bad habits, and maybe try something new. While you’re at it, why not review your insurance and financial needs? That’s where we can help. In this issue there’s advice on safeguarding your biggest asset – your home, adjusting your cover to keep pace with your lifestyle, how to eat more healthily by following a few simple rules, and how we can help you be ready for anything. Have a safe and enjoyable summer and a Happy New Year.
wE hAvE thE trAInIng, SkIllS And ExpErIEncE to hElp yoU dEcIdE how mUch covEr yoU nEEd... And to hElp tAIlor A pAckAgE to yoUr bUdgEt.
How to get the most out of your adviser NOT EVERYONE UNDERSTANDS LIFE INSURANCE AND HOW IT WORKS. What are the different types of insurance? How much cover is needed? How do you choose the policy that is right for you? What happens at claim time? That’s where we can help.
INSURANCE STRATEGISTS Aaron Baker P.O Box 147 678 Ponsonby Auckland 1144 Main: 09 360 7275 Fax: 09 360 7299 Mobile: 021 246 7870 Free: 0800 246 7800 Email:
[email protected] Website: www.insurancestrategists.co.nz
It’s an adviser’s job make the process simple for you. We can answer all your questions and make sure that you’re fully covered for your particular needs. And as your circumstances change, we’re there to ensure your cover keeps pace. An adviser is the best person to give you objective, expert, tailored advice. We‘re impartial and have your interests at heart. We’ll look at your financial
commitments, family situation and personal goals; and make well-researched recommendations about the type of insurance, and how much, you need. Should you need to claim, we can also guide you through underwriting, negotiate terms and support you through every step of the way.
So, if you’d like help choosing life insurance, or reviewing the cover you already have, get in touch with us today
Li FE iNSurANCE
Life doesn’t stand still... so nor should your cover LIFE INSURANCE pROVIDES pRECIOUS pEACE OF mIND IN YOUR KNOWINg FINANCIAL SUppORT WILL bE THERE IF IT’S NEEDED. HOWEVER, TO STAY pROpERLY pROTECTED IT’S ImpORTANT YOUR COVER KEEpS pACE WITH YOUR CHANgINg NEEDS. Ideally, you should review your insurance every year or whenever you experience a significant life change.
Here are a few things to consider: Special events Changes to your income (new job, promotion, inheritance, etc.) or your lifestyle (marriage, divorce, having a baby, buying a home etc.) can increase or reduce your insurance needs.
beneficiaries If you get married or divorced, it’s also a good time to double-check who will receive your policy’s proceeds should you die.
inflation Even modest inflation can gradually devalue your life insurance in relative terms, so it’s wise to adjust your cover accordingly from time to time.
Lifestyle changes If you’ve quit smoking, lost weight or made other improvements to your lifestyle, it’s worth checking whether you qualify for a lower premium rate.
Covering debt If you’ve taken on additional responsibilities − perhaps you’ve moved into a bigger house, or started a new business − you may need to increase your cover. Similarly, if you’ve paid off your mortgage or a significant debt, you may be able to ease back on your cover. (Remember though, once you reduce coverage, it may be difficult and expensive to increase your cover in the future.)
dependents
did you know? • nearly 30 per cent of new Zealanders will be diagnosed with long-term illness or disability at some time in their life.1 • Every year, about 8000 people in new Zealand will suffer a stroke (or 22 people per day).2 • At the end of June 2010, 85,000 working-age people (aged 18–64 years) were receiving an Invalid’s benefit.3 1
Statistics New Zealand, 2004
2
The Stoke Foundation of New Zealand, 2007
3
Ministry of Social Development, 2010
Who depends on you? If your own family is growing, you’ve taken responsibility for the care of an older family member, or your business is growing and relies increasingly on you, it may be time to review your cover.
rates and products Over time insurance providers may lower their rates or create new products to stay competitive. You may be able to get a lower rate or buy more protection for the same premium.
2
if it’s time for you to review your cover, give us a call.
HEALTH
You are what you eat... IT’S OFTEN SAID THAT WE ARE WHAT WE EAT, AND NO DOUbT mOST OF US COULD TRY A LITTLE HARDER WHEN IT COmES TO FOLLOWINg A HEALTHY DIET! But when we’re bombarded with advice in magazines, on television and online, it’s sometimes difficult to know where to begin. That’s why it’s best to keep things simple, and start with the basics. Never mind the latest theories and fad diets – some advice never goes out of fashion.
Here are useful tips to help you plan a healthy balanced diet and stick to it.
Are you prepared for anything?
• One step at a time: You’re not going to be able to transform your diet overnight. Introduce healthier options gradually. Your goal should be to develop a healthy diet that you can maintain for life – not just for a few weeks or until you reach a target weight.
LIFE DOESN’T ALWAYS TURN OUT THE WAY WE pLAN. SOmETImES WE bECOmE ILL OR HAVE AN ACCIDENT, AND IF IT’S SERIOUS, WE mIgHT bE LEFT UNAbLE TO WORK AgAIN.
• Moderation: Healthy eating doesn’t have to be an ‘all or nothing’ proposition. If you have a weakness for ‘unhealthy’ foods, start by reducing the amount you eat, and not eating them as often. In the longer term, treat them as occasional indulgences only.
If this happened to you, how would your family or your business cope? What would happen to your future plans, and theirs?
• Balance: While certain fad diets suggest otherwise, we all need a balance of carbohydrates, protein, fat and fibre to sustain a healthy body and to function properly.
Total permanent disablement cover provides a lump sum should accident or illness leave you permanently disabled, and you can choose how to spend it. It might be paying off the mortgage, getting the best medical care, improving access to your home and workplace, or ensuring your business survives.
• Fresh is best: Fruit and vegetables are the foundation of a healthy diet. They are low in calories and packed with vitamins, minerals and anti-oxidants. Nutritional supplements are no substitute. So remember your five portions a day!
With this type of insurance, you can choose to be covered for any occupation or just your usual occupation.
good reasons to have TPd cover? • Whatever happens, you’ll have resources to cover your home loan or other debts, helping to safeguard your family’s future. • The cost of ongoing medical treatment and possible modifications to your home or work environment could put a significant strain on your finances. • Without the ability to earn, you’ll still need to pay the bills and everyday living expenses. • Employing a full-time caregiver is often necessary, but can be expensive. A lump sum can assist with the cost.
if you’d like to know more about this and other types of disability cover, give us a call today.
• Carbs and grains: Choose ‘good’ carbs and fibre sources, especially whole grains, which provide long-lasting energy and are rich in nutrients that protect against heart disease, diabetes and certain cancers. • Healthy fat: Know your good fats from your bad. Monounsaturated and polyunsaturated fats (found in such things as plant oils, avocados, nuts and seeds, and fatty fish) are good for your brain, heart, hair, skin and nails. • Protein power: Proteins are essential for growth and energy. But sometimes we eat too much. Try to serve equal portions of protein, grains and vegetables. Focus on quality sources of protein, like fish, chicken, tofu, eggs, beans or nuts. • Go easy on the salt: Eating too much salt can cause high blood pressure and other health problems. Limit your intake to around 2,000 mg a day – the equivalent of one teaspoon. Avoid pre-packaged food and savoury snacks. • Sweet enough: Too much sugar causes health and weight problems. Limit the amount of sweets, cakes and desserts you eat, and avoid sugary drinks. Eat naturally sweet foods to satisfy your sweet tooth. • Read the labels: Food labels give valuable nutritional information about packaged products, so be sure to check out levels of, for example, energy, fats, salt, sugar, and carbohydrates before you buy.
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MONEY MATTErS
thE lASt thIng yoU wAnt to SEE IS yoUr homE SlIp oUt of yoUr hAndS, ShoUld yoU bE UnAblE to mEEt yoUr loAn rEpAymEntS.
Protecting your biggest asset bUYINg A NEW HOmE IS A mAjOR STEp FORWARD IN LIFE. IT’S THE bIggEST COmmITmENT YOU’RE LIKELY TO mAKE – AND ONE THAT CAN AFFECT NOT ONLY YOU, bUT YOUR FAmILY TOO. So it pays to play it safe and protect yourself for all eventualities. And that includes making sure you have adequate mortgage protection. This might be available as simple life cover or a more comprehensive package of benefits, including disability income protection, total permanent disablement and redundancy cover. • If you died, would you leave behind enough resources to pay off your home loan, and safeguard your family’s future? • If serious illness, disability or redundancy stopped you from working, would you have enough money in reserve to meet your home loan repayments? The last thing you want to see is your home slip out of your hands, should you be unable to meet your loan repayments. Talk to us about a package that’s right for you. Basic life insurance to cover the mortgage in the event of death is a popular and affordable option – if you don’t already have this type of insurance. The cost of your insurance is based on your age, state of health, the mortgage amount you apply for, your gender and whether or not you smoke.
did you know? • there is an estimated one death every 16 minutes and 38 seconds in new Zealand. (Statistics new Zealand, June 2009) • cancer is the second leading cause of death in new Zealand (29%). there are about 18,500 new registrations of cancer each year, with the highest rates in the middle and older age groups. (ministry of health website, 2009) • Accidents or injuries are the most common cause of disability for adults aged 15 to 44 year (31% of people with a disability) and adults aged 45 to 64 years (34%). (Statistics new Zealand, disability survey 2006)
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The information contained in this publication is general in nature and is not intended as advice. It may not be relevant to individual circumstances and, before making any investment, insurance or financial planning decision, you should consult a professional adviser. Copies of our disclosure statements are available on request, free of charge.
