Wednesday, April 30, 2014

Trauma Insurance: How a friend ended up $30,000 better off.

One of my personal friends recently went in to the specialist for a routine check of his heart.

The check determined that one of his arteries was clogged, and they moved him to immediate surgery to have a stent inserted. The surgery was non invasive, with a stent that eventually dissolves after widening and freeing the artery again. After a brief period of recovery, he was back on his feet.

My friend did have medical insurance cover which immediately covered his $5,000 bill for the surgery and that was of course very helpful, but his real boon came from the Trauma Cover he had invested in 5 years earlier.

Many forms of Trauma Insurance have partial payout provisions for a large variety of conditions, where if you are diagnosed with them, you are eligible to claim a certain percentage of your policies sum assured. In his case, he had $125,000 worth of Trauma Insurance. After enquiring and putting in a claim, the insurer paid him out 25% of his sum assured for the operation, as it met the conditions for the cardiac partial payout. So just by having trauma cover, not only were his medical expenses completely covered, he ended up with a financial windfall of $31,000!

It's not every day that you can go in for an expensive medical procedure and have it end up making you 30 grand richer, but with the right insurance, this is definitely possible, and it happens far more often than you would think! For those of you who have existing Trauma Cover, keep this in mind and closely read your policy wording to see which conditions will trigger a possible claim. We have encountered a number of people who could have been paid out partial or full trauma payments for things they did not even know they were covered for! For those of you who don't have trauma insurance, think seriously about it, it has certainly made my friend a very happy man!

If you have any questions about your existing cover or what insurance options are available to you just drop us a line anytime.

Sunday, April 20, 2014

Is Home Ownership Out Of Reach?

As New Zealanders, we're a smart country. When we look ahead to the future, we know that one of the soundest ways to protect our wealth and secure our future (other than a sound insurance plan!) is property ownership. First home buyers long to be on the property ladder, but they see a booming market and believe that they have been priced right out of it. Potential investors may already have a house of their own but feel likewise about the prospects of getting another to use as the investment property they really want.

It's easy to see why we see things this way. There is a shortage of housing in the main centres of the country, especially Auckland, with a shortage of over 100,000 homes forecast for the future as Auckland's population grows. There is recovering economic growth in this country as well, and coupled with the shortage, house prices continue to boom. The median house price in 2013 was $505,000, a huge jump of 11.6% from $453,000 the year before. In contrast to this rise, the median take home income of New Zealanders only increased 2.7% over the same period. For many average Kiwis, the image of home ownership is like standing at the bottom of Mt Everest with no climbing equipment and then having to watch as the mountain itself gets bigger before their eyes every day!

Owning a home can feel like climbing a mountain - but it doesn't have to be.

Our mortgage specialist Jonathan Parsons understands this. He encounters this presumption every day. And he takes pride in dispelling it, and showing people how they can have that first home or investment property, and how the mountain might not be as high as it looks on first glance. 

Many more people can afford property than they think. This is the first and most crucial point.We can show you the best, proven and most efficient ways for you to save for that deposit to get you into your first home. We guarantee you that with careful planning, diligence and our specialised help, we can help you get to the top of that mountain. You can get there. Don’t give up. We’ll show you how.

Once that's out of the way, and the possibility of home ownership becomes real, our work you won't stop there. Jonathan will offer the following ongoing services to make sure you keep climbing that mountain, all the way to the peak.

- Securing bank approval at the best possible rates on the marketplace, taking the stress out of your hands and getting the best results.
- The best deals on insurance to protect your property when you have it. All without the hassle of having to navigate a confusing marketplace yourself.
- NO FEES. Jonathan gets paid by the mortgage providers, not by you, and his service won't leave you out of pocket!
- Continuous contact with legal and accounting professionals to review your case and ensure you are maximising your investment and your protection.
- Expert and professional structuring of your mortgage to meet your personal needs and ensure it can be paid off in the quickest possible time.

Getting into the housing market as quickly as possible means the greatest possible returns on your investment. Property has grown by an average of 9.2% per annum over the last 40 years. Inflation growth has averaged 6.7%, thus, property has been proven to beat inflation and grow in value. We're a smart country. We know this. Many just didn't know that they could be a part of it too. Until now.

Wednesday, April 16, 2014

Wild Weather Hits Auckland

It's been a pretty crazy day at the office today as torrential rain and downpours hit Auckland City! We saw similar sights to this driving to work this morning; as waves smashed into the rocks and buffeted up at the side of our car:

Tamaki Drive is currently closed and many residents are without power. Traffic has deteriorated to the point where one of our admin staff has just joined us at 10:30am after leaving home at 8 on a journey that usually takes 30 minutes. We hope everyone out there drives safe and battens down the hatches.

Keep up to date at the NZ Herald website and try not to drive anywhere that's not absolutely crucial. Oh, and wish me luck getting home in a few hours!!  

Wednesday, April 9, 2014

Travel Insurance Claim Update

A few weeks back I arrived back to Auckland after an amazing two week journey to the United States. Awesome that is, apart from my journey home being affected by cancelled flights, leading me to have to stay another two nights in LA that I had not budgeted for! (Read the full story here)

Today, after I had filed the claim with Southern Cross Travel Insurance a few days earlier, everything was sorted and my claim was accepted. It was easier than I had anticipated too. All I had to do was fill out some forms, which weren't as daunting or lengthy as you might expect, and attach the relevant receipts and hotel information. There were also facilities on their website that let me do it all online if I had chosen to. They then were excellent in updating me on the process by email and by phone.

They said it would be processed within six days and it ended up being done in two. All in all, having the cover only set me back $70, whereas not having it and having to pay for my added expenses out of pocket would have set me back over $500. That's a considerable return on my investment. I admit to once scoffing at 'unnecessary' travel insurance, but after this, never again.

Thanks to Southern Cross Travel Insurance too for processing everything so quickly and efficiently.