INSURANCE & RISK COVER:
Life Cover will offer a lump sum payment when you pass away. Some good reasons to consider LIFE COVER would be to provide for:
- Mortgage Repayment
- Funeral Expenses
- Day-to-Day Living Expenses
- Raising Children/Future Education
Family Protection provides for a monthly amount to be paid to your family on your death, and is TAX FREE. Some good reasons to consider FAMILY PROTECTION are:
- To cover ongoing monthly accounts such as rates, insurance, power, phone.
- Easy money management – perhaps not have all your Life Insurance paid out as a lump sum – have some initial lump sum to pay for funeral, mortgage etc, and then have a monthly income for your family to cover day to day costs.
Chances are with changes in medical technologies you are now 85% more likely to survive illnesses such as Cancer, Heart Attack and Stroke, but you may not be well enough to work. Unfortunately, in New Zealand the Sickness Benefit will not cover what you usually earn, or provide a lump sum payment.
which is designed to pay a lump sum, in the event of you suffering one of a number of specified critical conditions. Good reasons to consider LIVING ASSURANCE are:
- To seek alternative treatment options
- To protect your family lifestyle, and helping manage day to day costs
- Protection of Children – children between the ages of 3 to 18years old will automatically be protected against many of the serious illnesses covered under Living Assurance – providing fund for their care and other expenses.
Disability Income Protection
provides you with a monthly payment if you are unable to work, due to illness or injury, for more than 10 hours a week. It will cover up to 75% of your usual Income. Good Reasons to have income protection are:
- Unexpected Illness
- Keeping the Household running
- Recuperation, cover your financial commitments, so you can focus on your recovery
- A quick return to work – Sovereign provides expert claims managers to assist you with your rehabilitation, OR assist with the costs associated with vocational retraining if you cannot return to your usual trade.
Loan Installment Repayment Insurance
This will pay your usual Mortgage Repayments in the event that you suffer one of a specified 39 conditions, and is NOT offset with ACC.
This type of cover will help with covering medical costs in the event that you need medical care. Further, if you are not on a waiting list, then chances are that your condition will not deteriorate affecting your income, work, and family. Sovereign will pay up to 100% to Agreed Value for nominated surgery/assistance including:
- Medical Hospitalisation
- General Surgery
- Cardiac Surgery
- Oral Surgery
- Pre-Surgery and Post-Surgery Care
- Outpatient Care