Policy Ownership

When reviewing your insurance or if you recenlty took out a new insurance policy - did you give serious thought to the ownership... and the consequences of it?

Do you know who owns your insurance policies?

Do you own all your policies? 
Are they in joint ownership with your spouse or partner?
Does an X own your policy?

We take out insurance to protect us from the "unexpected", and the impact on our world - personal, business, family and friends. Have you given thought to where the money could go to from making a claim on your insurance... would the money get to the right hands when it is needed most?

Ownership has to suit the purpose or need for the type of cover you have in place. 

It may well be that you are taking the insurance out specifically to pay back in to your business should you not be able to work for a period of time; this enables your business to continue to trade and produce an income...

Or you may have taken out lump sum insurance specifically for your personal needs - to cover any unexpected costs as a result from an injury or illness; or to cover your regular outgoings like your mortgage payments...

Your options

The ownership of all policies should be discussed. Even once your cover is in place you can update the ownership to suit your life as it changes... like, separation or divorce or a new partner/spouse... or new business venture.

The thing to keep in mind is that who ever is the "owner" not the insured person is who will get the money if a claim is made!


Call 0800 823 823 anytime for a chat about your policy ownership.

Insurance for critical illnesses

• Males have a two in five chance and females have a one in four chance of suffering a critical illness between the age of 30 and 65
• 60% of cancer sufferers will survive at least five years after diagnosis
• 78% of stroke victims will be alive 1 year later
• 57% of heart attack patients will be alive 1 year later

Critical Illness Cover or what is sometimes referred to as Trauma Insurance...

When considering the above statistics, chances are that you don't have to look too far before you will find that you know someone who has had some sort of critical illness or serious trauma.  When a major trauma occurs, such as cancer, heart attack or stroke the ongoing medical costs and day to day living can be a heavy burden to carry. There is insurance specific to these types of illness referred to as Trauma Cover which pays out a lump sum to ease the financial stress so that you cope with the effects on your lifestyle, family and work – so that you can concentrate on your recovery.

If you can’t afford for something to happen (have a look below at the image...), you should seriously consider taking out relevant insurance.  The insurance industry is constantly changing and insurance companies are updating product benefits – an adviser has the knowledge to explain what is available and more importantly what best suits your circumstances.

Our top “insurance” tip

Review your insurance regularly and most definitely when ever your life changes… such as, changing house, increasing debt, buying or selling a business, health issues, having a baby, easing into retirement.

Arranging a review is as easy as calling 0800 823 823 or clicking here to email a request for someone to call you! And, through Insurance People our service is free and no obligation.

Don’t put your health care in someone else’s hands – with personal insurance you are in control.

The importance of travel insurance

In the weekend news there was an article about the value of Travel Insurance... this is one time when you need to understand the small print and depending on where you are going and what you are taking with you - the most comprehensive cover is your best bet.

"Overseas injury's high price
Graham Catley will never go overseas without insurance after a gash on his shin attracted a $10,000 medical bill in America.
Catley, 57, was racing his yacht in a San Francisco regatta two years ago when a large pleasure boat crossed over his bow, throwing him into the choppy water. While he was being tossed about, something cut through his wetsuit and into his shin.
Catley was taken to the hospital where he received 30 stitches before being discharged. But not before they demanded $10,000.
"In the end it cost US$10,000 to get stitched up. It's just nuts," he said.
Sailing injuries account for an average of 70 ACC claims each year and the sport is often excluded from travel insurance.
Fortunately Catley was covered by his insurance company who reimbursed the $10,000 on his return."
- Source http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10824616

Generally overseas travel is one of excitement, relaxation and discovery - whether that be for personal or business ... so it just makes sense to ensure you have some sort of protection for the unexpected so as to minimise the personal and financial hurt!

At Insurance People we have direct access to 1Cover - who have options to suit what ever your travel need.

GET A QUOTE or for more information contact us anytime on 0800 823 823.