Why do I need life insurance?

If something fatal were to happen to you, those close to you could be affected not only emotionally, but financially. By purchasing life insurance you are effectively protecting your loved ones, your business, and taking care of any other financial commitments you may have.

Are all insurance policies the same?

The short answer is no. For example, when we begin to compare insurance policies from banks to what an insurance company can offer there can be a difference both in price and in the quality of the product itself.

When choosing the right life insurance policy for you, it’s important to remember that it’ easy to spot the difference in price, but not in the wording.

For example, if you look at this report here (insert hyperlink to the report you want this to lead to) you will find that a ‘special events’ cover increase is not available. This means you will have to have your policy re-written each time you need to change something, like an increase in cover.

Unfortunately, most bank policies do not include this option, but most insurance companies allow you to increase your cover to a certain level with no underwriting.

Policy wording for cover upgrade is extremely important. It can ensure that each time a policy is ‘re-vamped’ you get new wording that works in your favour.

When comparing the wording and the pricing of different life insurance providers you could be swayed with a discount. It’s a bit like buying a flight package with an airline: you want the drinks, the food and movies and yet you are more likely to book another airline that significantly cheaper, but their fine-print reads that there will be no drinks, food, luggage allowance, movies etc.
With an airline you might not mind being stripped of these add-ons that make you life a bit easier, but with insurance companies you need to make sure you read that fine-print carefully. This is where BuyLife can help you. We do not book any ‘flights’ without looking into the fine-print.

How do I know if I’m getting the best insurance for my needs?

If you want to make sure you are getting the best life insurance product for you, you can send us a quick enquiry form or an email when your quotes arrive, and we will provide you with a QPR report. This report is completely independent research on your policy wording. In fact, if you want us to only compare the wording, just let us know.

How much life insurance do I need?

In order to decide how much life insurance you need, you will need to consider:

• Do you want to keep or lose your mortgage?

• How much income your family will need for a reasonable standard of living, and for how long?

• Where will this income come from?

Have a look at this video to get a better idea of how much life insurance you may need:

How does ACC work with life insurance?

Many people aren’t aware that they may get a level of pay-out by ACC for death by accidents. However, if you want to ensure you are covered for death due to illness or injury, you will need life insurance as ACC won’t pay you in these cases.

You can read more about ACC cover here

Will ACC off-set a pay out if I have life insurance?

Absolutely not.

Terminal Illness: Will I be covered with life insurance?

In most cases insurance companies pay out the life cover if you are diagnosed with a terminal illness.However, these days, cancer and other serious health issues are highly treatable and are often cured. In which case, life insurance would not be paid out. This is when you would need trauma insurance.

It is also known as critical illness cover. You can get a trauma insurance quote here: www.traumainsurancenz.co.nz

How Do Holiday Rewards Work?

The rewards voucher cannot be exchanged for cash. The rewards voucher is not a cash credit and can only be used to purchase travel from Holiday Rewards. By using this voucher, you will be bound by the terms and conditions set out by Holiday Rewards. Apex Group Limited is not responsible for reimbursement of any holiday rewards should Holiday Rewards be unable to deliver, due to liquidation/receivership or ceasing to trade. The Holiday Reward voucher is sent to you via email at the same time your Cash Back payment is made. The $500 voucher will only be issued on premium values more than $50 per month. Apex Group Limited uses Holiday Rewards to store your voucher which is password protected by your own unique password. No other party can access this information. Any other offers will be bound to the same terms and please take note of the expiry date.

To find out how Holiday Rewards works click the link here.