What is Retroactive Date?2018-11-04T03:43:48+00:00

What is Retroactive Date?

This is the date whereby events, acts errors or omissions by the insured that may lead to being a claim following will be covered.

What is Retroactive Date?
Is Income Protection Insurance Tax Deductible?2018-10-23T20:52:56+00:00

Is Income Protection Insurance Tax Deductible?

The short answer is yes, provided the benefit from the insurance policy is taxable.

Basically works like this.

If you take a tax deduction for the insurance premium paid, then the proceeds on a claim become tax assessable.

Is Income Protection Insurance Tax Deductible
What is Needlestick Cover?2018-10-21T20:22:04+00:00

What is Needlestick Cover?

The Needlestick benefit is a lump sum payout insurance designed to meet the specific needs of people working in the medical profession and emergency services. It provides a lump sum in the event of occupationally acquired HIV, Hepatitis B, or Hepatitis C.

What is Life Insurance Underwriting?2018-08-20T23:20:52+00:00

What is Life Insurance Underwriting?

Underwriting is the process of estimating the level of risk presented to the insurer to determine the cost of a premium for a life insurance applicant.

How to get the best Redundancy Insurance in New Zealand2018-06-20T00:32:15+00:00

How to get the best Redundancy Insurance in New Zealand?

Unfortunately, job security seems to be a thing of the past, and nobody is indifferent to the threat of redundancy.

Redundancy cover provides extra protection in case you’re made involuntarily redundant.

You can claim up to two times under the Redundancy benefit. You must be employed full-time for six consecutive months before you are eligible to make your second claim under this benefit.

How does Redundancy Insurance work?

Redundancy Insurance in New Zealand is an optional Income Protection add-on benefit, that pays maximum $5,000 per month for 6-month, after a 30-day waiting period that begins on the date you became redundant.

How does Income Protection Insurance work?2018-06-20T00:36:05+00:00

How does Income Protection Insurance work?

Income Protection Insurance in New Zealand is a policy that pays a weekly, fortnightly or monthly benefit for 2 or 5 years, or until age 65 or 70, to the person insured who is unable to work due to illness or accident after an agreed waiting period of between 2 – 104 weeks.

What exactly is an income protection waiting period?2018-06-20T00:37:40+00:00

What exactly is an income protection waiting period?

An income protection insurance waiting period is the duration you must wait for when you become disabled to work due to illness or injury to the time you become eligible to start receiving income protection benefit payments.

Depending on the policy and what you select, waiting periods can range from 2 weeks and up 104 weeks.

What is stepped premiums?2018-10-24T04:55:46+00:00

How do stepped premiums work?

Stepped premiums increase each year as you get older, but compared to level premiums is cheaper in the beginning.

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What is level premiums?2018-06-12T10:10:42+00:00

How do Level Premiums work?

Level premiums remain the same throughout the duration of the contract, start higher than stepped premiums, but generally much more affordable long-term.


Policy is the document given to the Insured outlining all terms and conditions of the agreed insurance.


This is where the Insured, either intentionally or unintentionally failed to disclose pertinent facts and information to the Insurer. Depending on the situation, this can result in a claim being declined or cancellation of the policy.

Lapsed policy2018-01-02T05:25:19+00:00

A policy can lapse for two reasons (1) non-payment of premiums, or (2) when a policy is not renewed at the time that the term expires.

Indemnity value2018-01-02T05:25:27+00:00

This is the value of an item at the time of loss or damage, accounting for its age and current condition.


Certain events may be excluded from cover, and these are referred to as Exclusions in your insurance policy. It is important to clearly understand what your policy will NOT cover.


This is the amount the Insured pays at the time of making a claim. It is usually a portion of the claim up to a value agreed in the policy.

Duty of Disclosure2018-01-02T05:25:49+00:00

When arranging cover, the Insured has an obligation to disclose certain facts and information to the Insurer.


This is all the events the policy covers the Insured for. When arranging an insurance policy, it is essential to understand the full scope of cover, i.e. what the policy covers and what it does not.


The Insurer pays the Broker a fee at the time a new policy is established – usually this is a percentage of the annual premium.


This is where the Insured advises the Insurer that a payment is required due to a loss covered by the policy in place.

Business interruption insurance2017-12-03T00:56:04+00:00

Unexpected events such as fire can halt business operations for a short or long period of time. Business Interruption insurance covers fixed costs (and other costs depending on the policy) during the time the business is closed and also protects the owner from loss of revenue.


A Broker is someone who you appoint to assess your needs and then organise insurance cover for you. Brokers work with a number of insurance providers, with the advantage of placing clients with Insurers which best suit the individuals requirements.

Annual premium2017-11-30T21:58:02+00:00

This is the amount you pay each year for the agreed insurance cover.

Agreed value2017-11-30T21:54:16+00:00

This is where the Insured and the Insurer agree the value of an asset / item at the time of establishing the policy. If something was to happen and a claim made, the Insured would receive the agreed amount, not the market-value as can otherwise be the case.

Aggregate limit2017-11-30T21:55:41+00:00

Often this relates to Liability insurance and is essentially the total amount the Insurer will pay out within a certain time-frame, irrespective of how many claims are made by the Insured.

Loading explained2017-11-30T21:49:21+00:00

Loadings – Where the premium is loaded because of a general increased risk

Can I change Insurance company?2017-11-30T21:47:25+00:00


If you are considering changing or cancelling your life insurance policy, there are a couple things you need to consider. Let us help you review your policy. Get in touch today to discuss your options.

Who needs life insurance?2018-01-02T05:26:35+00:00

If people are depending on you for financial support, then life insurance might be worth thinking about. If something happened to you, a terminal illness or death, a life insurance payout could help the people you love. Some use life insurance payout to help cope financially, paying any debt, such as mortgage and / or maintain their lifestyle, depending on what level of cover you choose.

What does premiums mean?2017-11-30T21:49:57+00:00

Insurance premium is the amount of money that you and I, or a business must pay for an insurance policy. The insurance premium is considered income by the insurance company once it is earned, and also represents a liability in that the insurer must provide coverage for claims being made against the policy.

What is life insurance?2018-01-02T05:26:44+00:00

It’s where an insurance company agrees to pay you an amount of money if you die or become terminally ill. In return you pay the insurance company regular, often monthly, amounts called premiums.