As an insurance specialist, it is warmly satisfying to help provide security and peace of mind for you, your family and your business. Developing a family insurance protection plan is a very disciplined process. Insurance needs are influenced by many factors, such as your goals, age and stage in life, dependents (especially children), and financial obligations (mortgage debt, personal and business loans). Other factors include whether you are in business (self-employed, partnership or company shareholder-employee). Protection plans need to be tailored for individual, family and business circumstances.
What’s involved when you deal with an insurance specialist
The insurance process involves (i) defining the scope of the insurance review with the client. (ii) completing a comprehensive “fact-find” exercise to identify all matters of relevance to developing a sound protection plan. (iii) undertaking a thorough needs analysis. This is a precursor to (iv) preparing and presenting a Statement of Advice with recommendations to the client. (v) implementing the client’s decision. Being an advocate for their interests. Lastly, (vi) undertaking a periodic review of the client’s protection plan. Accommodate any changes in their future personal and financial circumstances.
Once agreement is reached regarding the proposed protection plan the client is happy with, it is critical that it be put into effect urgently. Don’t delay, don’t tempt fate, don’t wait for the curve balls that life can randomly throw. These can have a major impact in making you uninsurable, whether totally or partially. By that time, it is too late, and you may never be able to secure suitable insurance in future.
Why your insurance is so important to me
I, personally, have a very raw sensitivity over this issue. This arose as a result of my eldest daughter continually deferring completing her recommended insurance protection plan application. A plan that she was very happy with. She was subsequently diagnosed with a lipo-sarcoma which required radiotherapy and surgery in the ponderous public health system. Followed by post-surgery rehabilitation while she had to work. If she had completed the application in time, which I regularly urged her to do, she would have been fully covered. She would have had in place trauma and income protection benefits. All surgical and medical treatment would have been covered by Private Medical Cover. This would have given her financial security. Not to mention the opportunity to rehabilitate herself without the stress of having to return to work while still unwell, simply to earn income.
Sadly, she is not alone in this tendency to let life get in the way of protecting oneself.
Please, for your own and your family’s sake, don’t play Russian roulette with your personal and your family’s security.
Theo Simeonidis
UProtectNZ Insurance Services