Whether you're buying a house or renewing a mortgage, your loan rests on your ability to keep earning an income. Safeguarding your income, through illness or injury will protect your home and keep your roof over your head.
Whether you're buying a house or renewing a mortgage, your loan rests on your ability to keep earning an income. Safeguarding your income, through illness or injury will protect your home and keep your roof over your head.
It’s true. Whether you're buying a house or renewing a mortgage, the banks will only lend us money based on our ability to keep earning an income
Illnesses account for around 70% of all time off work. If we were to be sick and unable to work for three months, most of us would struggle to survive, let alone pay the mortgage.
We insure our homes, our possessions and our cars but not our biggest asset – the ability to keep earning an income. Protecting your income keeps the roof over your head.
If you have an accident and need time off work, your income drops by at least 20% while you’re receiving ACC payments. That’s one-fifth of your income, LESS.
What cover do you need when you buy property?
There are different ways to protect yourself and get the right mix of cover to suits you
Income protection
Income Protection can pay you a regular monthly payment of up to 75% of your income if you are unable to work due to sickness or injury. How you structure it, is up to you. Having your loss of earnings re-imbursed or getting an agreed amount paid to you, are some of the options available.
Mortgage Protection can pay up to 45% of your income or 115% of your mortgage/rent payments each month if you are unable to work due to sickness or injury. And in some cases, you can receive this in addition to your ACC payments as well as your Income Protection payments. You don’t need a Mortgage to have Mortgage Cover.
Specific Injury Benefit can be a great option if your insurer is unwilling to give you any Income or Mortgage Protection and you have some other Cover in place. It’s cost-effective and designed to tide you over financially if you get one of many common injuries from fractures and burns to loss of fingers and limbs. This too pays out in addition to ACC.
Life Insurance provides financial support to your family, in the case of premature death. The financial loss is effectively your income over your lifetime which ceases at death plus any associated financial expenses. Life Cover gives you the option to leave a beneficiary with a lower loan/mortgage, should the unmentionable happen. However, as your Mortgage reduces and your KiwiSaver balance increases, your need for Life Insurance comes down.
Trustindex verifies that the original source of the review is Google.
I have been dealing with Shona for my family's insurance requirements for about 5 years now. I have always found Shona to be professional and knowledgeable. Shona explains insurance products in a way that is easy to understand, which was important to me. Shona has a personal approach with her clients, I never felt like I was just a number. As a family we have already referred her on to others looking for insurance advice. I would not hesitate to refer her again. Thanks Shona,
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Jenny Matano
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Shona is very helpful and understanding and always ensures she is providing the best advice that is catered to myself and my husband. I highly recommend her services.
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Meg Sutton
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Shona was lovely, prompt and knowledgeable to work with! She broke things down and made them easy to understand and I am very clear about the details of my insurance. Would recommend her service :)
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kershaltnz
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I found the information she gave me was easy to understand. Was friendly. Wasnt pushy and was patient in explaining my questions.
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pru Mak
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Wow, Shona has been nothing but amazing for my family and I. We have known her for 4 years, initially wanting support with life insurance.
Fast forward 3 years, we didn’t know we could make a claim and had forgotten about the income protection cover.. times were tough.. then we called Shona, who managed to get us some money back through a retrospective claim!!it’s so good to get some financial relief and Shona made it happen. Thank you so much Shona!
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Tendai Makuwatsine
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Wow.. what an amazing Insurance broker.
Shona Mookerjee takes her time to listen and helped me with my claim retrospectively as I had no idea I could make a claim. Always available! And easy to work with. Thanks Shona.
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Maria Williams
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My daughter and I had an unusual request to put to Shona. We needed a life insurance policy to cover myself for a substantial sum so that when the time comes, my daughter and son in law can take me back to the UK for a memorial service and scattering my ashes in the UK and Europe with family and friends. I am pleased to say that Shona delivered a policy that suited our needs exactly and we were very pleased with her friendly, knowledgeable service.
Thank you Shona.
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B Davis
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I highly recommend Shona Mookerjee to anyone who needs their insurances looked at or Kiwi Saver goals updated. For me it was an effortless experience and welcomed especially with a busy work schedule with Shona doing all the heavy lifting for me. Thank you again Shona, your the best!!
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Sheree Teokotai
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Highly recommend Shona from Insurance Market. The initial call was personal and very informative leaving my husband and I feeling empowered about our situation and future goals. Lots of efficient communication that is specific to our needs. We have a plan in place that we are comfortable and excited about due to Shonas skills & knowledge of the industry. 5* Shona has helped us into our first proper insurance that fits our budget.
Estimating how much you can save through your KiwiSaver helps you make your dream of owning your first home, a reality. This tool helps you decide which fund choice is right for you and how much you need to contribute to get to your goal.
Once you’ve used up your KiwiSaver to buy your first home, the focus needs to change to growing your savings for your retirement. You may wish to increase your contribution rate, change your Provider or even take a savings break. Find out more information on making changes to your KiwiSaver here
Clients of mine who have simple estate planning needs, can put a cost-effective, legally binding Will in place using Simple Wills, to ensure that their assets are distributed according to their wishes should the unmentionable happen.
