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.
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Nearly a decade later, I'm finally writing the Google review you deserved all along! You've been an exceptional financial adviser—always reassuring, incredibly knowledgeable, and able to explain even the most complex topics in a clear, educational way. You're responsive, supportive, and always there at the drop of a hat. Thank you for your patience, professionalism, and genuine care. I couldn't recommend you more highly!
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Anita Patel
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Shona has been fantastic to work with. She explained everything clearly, made the whole KiwiSaver process easy to understand, and always takes the time to answer my questions. I also really appreciate that she keeps in touch with regular check-ins to make sure I'm on track and to see if anything has changed. Her honest advice and professional approach have been invaluable, and I wouldn't hesitate to recommend her to anyone looking for a knowledgeable and trustworthy KiwiSaver adviser.
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Joy Swift
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Shona was amazing! Made the process of reviewing our life insurances and kiwisaver incredibly easy. Would highly recommend!
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Richa Patel
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Shona made the experience of getting insurance, which is usually a bit uncomfortable or scary or confronting, really amazing. She listened to us rather than just talking AT us, and helped us navigate what would be best for us at this time in our lives. Highly, highly recommend working with Shona for all things insurance and Kiwisaver!
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Dale
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Shona is the reason my partner and I now finally feel safe and insured. We're coming up on 30, and insurance is something we'd always thought about but never pulled the trigger on. Shona made the process so easy, was such a kind and funny presence through the whole thing, but always eminently professional. We never had to worry about stepping wrong or locking in a long-term decision that didn't make sense for us. Our initial premium recommendation from the insurance company was VERY high, but she worked it down to a third of the initial quote just by virtue of being amazing at her job. If you're getting your insurance up to scratch or approaching this for the first time, I couldn't possibly recommend Shona any more.
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Angelo Stoffberg
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Highly recommend Shona as Best financial adviser ever. We were recently faced with extreme challenges in life ever, where Shona came to our aid…..Shona did not just talk….Shona delivered results above and beyond that what we could see in our storm….Shona walked alongside us and advised us every step of the way….Shona reassured us as communication was crucial and an understanding with empathy do put things in place and explain to us how the system operates as to us who are new to these things and these type of challenges in life. Her level of after care is second to none. Prior to underwriting, she highlighting the importance of Life Insurance, dealt with our fears of insurance, committed to all correspondences with the insurer, sorting out our premium challenges and giving us total peace of mind when handling our portfolios.A huge thank you Shona.....Angelo and Vanessa
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A Family
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We really enjoyed working with Shona and highly recommend working with her. She is so friendly, efficient, and great at communicating. You can tell she is really on top of things, which is such a relief because I am definitely not when it comes to insurance. It is great knowing we can trust her to look after us, keep our best interests in mind, and help save money where she can. We feel like we are in very good hands.
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Renee Swindells
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Shona has been great to work with. We have had to go through the claims process a couple of times with her recently and she has explained every step, advocated for us and ensured we have the right information provided to the insurer to reduce delays and as a result we have had great outcomes. I would highly recommend her
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Skyla Reilly
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My experience with Shona was amazing, as my first time getting into the world of insurance Shona made it easy and talked me through everything and showed me all my options. She made the whole journey easy and stress free, highly recommend :)
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Dianne Cobley
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If you’re thinking about Life Insurance — or even if you already have it — I can’t recommend Shona enough. Most of us pick an insurance provider when we’re young and stick with them out of habit. I was the same. But after chatting with Shona, she offered to take a look at my current cover and see what could be improved. I’m so glad I said yes. Not only do I now have a policy that fits my needs better, but my monthly premiums have actually gone down. That was a very welcome surprise. I know how easy it is to put insurance in the “too busy” basket. But if you have a family who relies on you, this is something you shouldn’t ignore. Life doesn’t always go to plan. Shona made the whole process simple. She dealt with my old insurer, sorted the paperwork, and walked me through everything I needed to do. That one hour I spent reviewing my cover was absolutely worth it. If you want someone who genuinely listens and gives thoughtful, tailored advice, talk to Shona. She really does make a difference.
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.
