Travel Insurance Pays Off

I have spent the last two weeks vacationing in the US, and as well as having an amazing time and seeing the grandeur of New York City for the first time, it helped teach me an important lesson. Never assume things will go according to plan!

Three nights ago, I was sitting in Pensacola Airport in Florida. I had flown in from Orlando on a plane so small it still had propellers, and I was waiting on my connection through to LA on what I hoped would be a bigger plane! I had crafted my schedule of flights to get me back to Los Angeles and then onto a Qantas Flight back to Auckland with 5 hours to make all my connections and do my transfers. I assumed that even if my flight was delayed, I would still make it in plenty of time. So of course, as if the cosmic fates wanted to waggle their disapproving fingers at me for my presumptions, the flight I was on the LA was cancelled entirely!

I assumed I would be here...

... Then this happened.

I sat in the airport for 6 long hours, realising that the new flight I was scheduled on wouldn't make my connection, even though I had left 5 hours to get it. I spent an hour on hold with the airline changing my tickets, but the earliest ones I could get back home were more than a day later than my originally scheduled flights. It was about now that I began to think about the Travel Insurance I had been advised to purchase before I left. I had originally fought against it because surely nothing would happen right? Luckily, I had given in and got it.

I had to pay to spend another night in a hotel in Los Angeles waiting for my flight, including transport to the hotel, extra meals and an over $200 fee for changing the flights that I could no longer make. All in all, the cancelled flights would have set me back over $500 if I had to pay for it out of my own pocket. The Southern cross travel insurance though, paid for all of that and saved my credit card. It made me feel just a little bit stupid for not wanting to pay the paltry insurance premium at the start of the trip.

It could have been worse too. Upon flying into Florida from New York, my baggage didn't arrive at the airport and US Airways told me it had never even been put on the flight at JFK airport to begin with! Luckily, they found the bags and had them delivered to me within 48 hours, but if they hadn't, the loss of my property, clothing and gifts would have been covered by the insurance as well. It does happen, and it did happen to me. You just never know what will happen, and not just during travel, during your day to day life as well. Now, having insurance has paid off for me in two big ways, on this trip and having medical insurance when I was diagnosed with Crohn's Disease. I would have almost no financial independence right now if I had to pay my medical bills myself. Think about that, both the next time you travel or when it comes time to think about insuring your life or your health. And if you come to the conclusion like I did that insurance was a worthwhile investment, let us get the best deals for you. It's as easy as that, and we'll make sure you have the best possible cover on the market at the lowest possible price.

Visit our official website for more information.

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Insurance/Investment News Roundup 10/03/2014

1. Devastated patients learn some insurers will only pay a fraction of their breast reconstruction costs. - NZ Herald
http://www.nzherald.co.nz/insurance/news/article.cfm?c_id=234&objectid=11216434

2. Financial Resolutions that you can keep - Investopaedia (American based, but much still very applicable to you).
http://www.investopedia.com/articles/pf/06/newyear.asp

3. Implementing a long term wellness solution - Southern Cross
https://www.southerncross.co.nz/Society/Foremployers/Knowledgecentre/Articles/tabid/377/vw/1/ItemID/509/Default.aspx

4. 75% of all claims Sovereign paid out are for Living Insurance, not in cases of death. - Stuff.co.nz
http://www.stuff.co.nz/business/industries/9802329/Sovereign-life-insurance-for-the-living

5. Diane Clement - Be cautious with credit card travel insurance - NZ Herald
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11215966

Just For Fun: Incredible Elephants Paint Self Portraits!

Apparently elephants are some of the only animals with conscious self awareness enough to identify themselves in a mirror and seem to possess an incredible sense of self and mind. Watch these unreal creatures use a paintbrush with their trunk to paint pictures of themselves and hope you smile as much as we did.

Investment News Roundup 25th February

1. Small Superannuation accounts slipping through the cracks of Trans Tasman transfers - Good Returns
http://www.goodreturns.co.nz/article/976501734/struggle-to-access-lost-super.html

Read our original article detailing the new Transtasman portability of superannuation.

2. Improving Fund Disclosure For Investors - Good Returns
http://www.goodreturns.co.nz/article/976501685/fair-play-for-investors-improving-fund-disclosure.html

3. Big changes in the pipeline for Telecom - The Headliner
http://www.headliner.co.nz/news/14154.html

4. Kiwisaver - How Good Is It For Children?
http://www.nzherald.co.nz/personal-investment/news/article.cfm?c_id=71&objectid=11199518

Insurance News Roundup 24th February.

1. Reserve Bank Gets Tough on Insurers - NZ Herald
http://www.nzherald.co.nz/insurance/news/article.cfm?c_id=234&objectid=11208606

2. New cheaper health insurance plans increase competition in the marketplace. - NZ Herald
http://www.nzherald.co.nz/insurance/news/article.cfm?c_id=234&objectid=11203145

3. New NIB ambassador Benji Marshall proves a hit with the young. - Good Returns
http://www.goodreturns.co.nz/article/976501730/benji-marshall-a-winner-for-nib.html

4. Asteron welcomes new CEO David Carter. - Good Returns
http://www.goodreturns.co.nz/article/976501725/asteron-gets-new-ceo.html

5. Life Insurers move to target younger consumers in the wake of NIB and Southern Cross success. - Good Returns
http://www.goodreturns.co.nz/article/976501680/life-insurers-next-to-target-young-market.html

6. IAG's New Zealand branch posts 75.5% profit. - Interest.co.nz
https://www.interest.co.nz/business/68631/iag-posts-755-gain-profits-ahead-takeover-lumley

Insurance Mythbusters: "My sum assured need only cover my debt".

It's that time again! Time to bust (or confirm) some more myths!

When it comes time to set the sum assured (definition here) for their insurance policy, be it life cover, trauma or Total Permanent Disablement, people without advice tend to assume that as long as the sum assured covers their debt (mortgage, credit cards, car payments, medical expenses etc.) then that's enough.

For instance, someone with $200,000 left to pay on their mortgage and $20,000 left to pay on their car may decide that they only need to be insured for $220,000. After all, being insured for more means higher monthly premiums and why take on the extra cost for something that isn't necessary?

Except in most cases, it is necessary.

Make sure your insurance sum assured is calculated properly, with the aid of a qualified adviser or broker., not with the aid of an abacus!

A $220,000 debt most of the time will not be covered by a $220,000 payment, as there are other factors and expenses to consider. Legal fees, interest costs, the cost of a financial adviser, bank fees and taxes and more all may need to be taken into account. So to make sure you don't leave any debt behind to your beneficiaries, it is generally necessary for your sum assured to cover the sum total of your debt and then some. How much will depend on your unique circumstances, but if you're in doubt, ask a professional.

VERDICT: This one is definitely busted. Just calculating your sum assured to erase debt may leave more costs on yourself or your beneficiaries during stressful times when they can't afford it. Make sure that all potential costs are considered, taken into account, and if at all possible, leave yourself with room to play by expanding your sum assured as much as is possible and affordable.

News Roundup

A round-up of all the insurance and investment news fit to print.

1. Tower to keep the remainder of its life insurance business after selling to Fidelity.
http://www.nzherald.co.nz/insurance/news/article.cfm?c_id=234&objectid=11181022

2. Brian Gaynor: Forget Obamacare, New Zealand has its own medical insurance issues to address.
http://www.nzherald.co.nz/insurance/news/article.cfm?c_id=234&objectid=11161510

3. Harbour Asset Management director of fixed interest, Christian Hawkesby, spells out the eight key indicators to watch over the next 12 months for fixed interest investors.
http://www.goodreturns.co.nz/article/976501630/fixed-interest-watchlist-for-fixed-interest-investors-in-2014.html

4. London-based economist Andrew Hunt casts his eyes over global markets.
http://www.goodreturns.co.nz/article/976501611/global-market-risks-outlined.html

5. $200 million dollar payout for quake hit schools.
http://www.stuff.co.nz/the-press/news/schools/9666386/200m-payout-for-quake-hit-schools

6. Sovereign is liable for $82 million after losing its battle with the Inland Revenue.
http://www.goodreturns.co.nz/article/976501661/sovereign-faces-big-bill.html

7. Less than a third of young people have the insurance cover they need.
http://www.radionz.co.nz/news/national/234688/low-levels-of-young-people-with-insurance

Black Caps vs India Third ODI, Eden Park

Wait, a tie?

How am I supposed to feel?

How are the Indian supporters supposed to feel?

None of us knew. Attending the third cricket One Day International at an almost sold out Eden Park was an experience. The sun was baking, the atmosphere generated by the 28,800 supporters was intense, and the cricket itself was the craziest, most amazing game I'd ever seen.

Brendon Mccullum and the Black Caps, not quite sure how to react to the thrilling tie.
Credit: stuff.co.nz

For those who don't know the machinations of cricket, having a tie occur after both sides have batted is exceedingly rare. In this case, it was even more strange given the massive scores both teams managed to achieve. But happen it did. The ground was packed with great Indian supporters, who just judging by the sound, outnumbered us Kiwis 3 to 1 on the day. Every Indian boundary or six was greeted with a deafening sea of cheers, waving Indian flags and chanting. Every New Zealand wicket was greeted by a round of muted applause and some scattered cheering. Oh well, now I know what a cricket game on the subcontinent would be like!

The game swung to India. Then it swung back to New Zealand. Then back to India. I looked at the tickets, and they made no mention of people with heart conditions needing to be careful, which seemed like a tremendous oversight. (I hope they had medical cover :) ) In the end, as I was leaving the ground, I supposed a tie was the fair result for a game when neither side could quite get on top enough to finish the other one off.

Relive all the action here with the highlights and massive amounts of respect to India and the Indian supporters for showing us how to be passionate about our team.

Crucial Health Insurance Tip for New Parents

If you're a new parent, one thing thing that can be sometimes overlooked in all the joyous hysteria of a new addition to the family is making sure your child is covered. We recommend getting onto it ASAP though, because there are some little known benefits to doing so that can help you hugely in the long run.

1. If you add your child within its first 3 months to a Sovereign health insurance policy (eg. Absolute Health or Majorcare) and you already have one child included on the policy, your premiums will not increase. So you will be getting another child covered under your existing policy without having to pay a cent more.

2. If your health cover is with another insurer, the same advice still applies. If you add your child to your policy within its first three months, any pre-existing conditions your child has will be automatically covered. If you leave it much longer than this, the exemption may not be available.

3. Even in a general sense without the great perks, it's a good idea to get your child covered as quickly as possible anyway. You never know what could crop up unexpectedly and having a newborn, though one of the best experiences of our lives, can be stressful enough without the financial burdens of medical bills.

Making sure your babies are protected earlier comes with considerable benefits you won't get by waiting.

Remember too, that if you have queries about a specific policy you may already have, we can help you out anytime. Good luck and as always, may your children be fit, healthy and happy.

Staying Healthy: Weight Loss Tips

Trying to lose weight? Here are some info and resources that can help.

- Take Vitamin D. Obesity has been linked by research to low levels of Vitamin D, which acts as a support for metabolism and insulin secretion. It also promotes healthy absorption of calcium and phosphorous and improves the communications of cells throughout your body. Vitamin D is different from other vitamins as it is the only one the human body can manufacture itself with the aid of exposure to sunlight. Sources other than supplements include milk and fish such as salmon or sardines.

- Replace refined sugars. More natural alternatives include honey, which helps your body digest fats more effectively. If possible, change from consuming white bread, white rice and white pasta to brown bread with grains, whole grain pastas and brown rice.

- Ensure you aren't potassium deficient. Potassium deficiency produces fatigue and muscle weakness, which can prevent you from burning the calories you need to start dropping the kgs. Potassium also has numerous other benefits to your body including brain function, bone health and maintaining healthy blood pressure.

Citrus fruits are an important source of potassium, as well as avocados, bananas, grains, salmon and chicken.

- Tracking the amount of calories consumed versus the amount burned is surprisingly fun and motivating. Aim to burn 500 more than your intake for the day to produce effective results. A great source of information on most foods and their calorie count is here, and a handy tool for calculating the amount you've burned is this calorie burn calculator. I've used both in the past and they definitely help. Weight loss for me just doesn't have enough numbers to it beyond the scale. Knowing for sure what you've taken in and what you've burned gives you a sense of progress and accomplishment even when you can't see the results visually straight away.

- Become an '80/20' eater. If you can make 80% of the foods you consume beneficial healthy foods and keep 20% reserved for the fun stuff you're craving, you can achieve a good balance which will promote weight loss if maintained.

- Sleep a lot. No, seriously. Sleep has a massive impact on your body, weight loss, storing fat and your general weight maintenance. Do your best to get at least 8 hours a night.

Don't set that alarm too early. Good sleep is imperative for weight loss programs.

- Do your level best to snack on low calorie foods. Packets of chips and the like can be tempting, but even the small ones have 200+ calories. This is a cool and handy list of foods only have 40 calories or less. Try some of them out.

Other Entries in the Staying Healthy Series:

How to Lose that troublesome belly fat.

The awesome health benefits of honey.

Can chocolate reduce the risk of diabetes?