tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Tuesday, August 11th, 6:06PM

Insurance

rss
Latest Headlines

Opinion: You are not on the right plan?

Disability insurance has the same problem that mobile phone companies have. Your cover can go out of date – you can even end up holding insurance which will never pay out.

Thursday, October 9th 2008, 4:21PM

by Russell Hutchinson

Let me illustrate: I recently checked my mobile phone bill and discovered that I was paying too much. Time has marched on and I could get more minutes, and a mountain of txts, for $70 a month less than I was paying already.

I wondered at why the company had failed to call me and let me know… but only briefly. They had 70 reasons a month not to make the call.

Insurance can work the same. If your income falls for long enough then holding lots of indemnity based disability income cover which may not pay out doesn’t make sense.

Some people are heading for this situation – to think of a group at random, real estate agents perhaps?

Now after you’re done with your schadenfreude, why not make a list of them and call them to review their DI cover?

Of course, if their health is deteriorating and they believe their income will quickly recover, they should retain it.

But clients just don’t think this way about their cover.

You need to think for them – and employ a bit of pro-active customer care.

There is every chance there is good business in it, and it’ll remind them why you are there.

« Opinion: The advantages of being second classOpinion: A question of coverage »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Insurance Briefs

Insurer nib backs Ronald McDonald House with $20k investment
Health insurer nib New Zealand and its nib foundation have lent support to Ronald McDonald House Charities.

Less stressed during lockdown
New Zealander’s health and wellbeing had surprising benefits from the Covid-19 lockdown.

Southern Cross supports new safe haven for at-risk pets
Southern Cross Pet Insurance has teamed up with Pet Refuge to provide temporary shelter for animals affected by family violence.

nib Foundation supports Lifeline to the tune of $150,000
To support the growing mental health needs of Kiwis emerging from the Covid-19 pandemic, Lifeline Aotearoa has increased its service capacity thanks to a $150,000 grant from nib foundation, the charitable arm of nib New Zealand (nib).

News Bites
Latest Comments
  • It starts with governance
    “Hi Adviser 1 -I don't think peer review will cut the mustard. There is more to it than someone having a look at you do and...”
    56 minutes ago by gavin austin adviser business compliance
  • It starts with governance
    “Who offers a governance solution for a one man adviser business or is adviser peer review the way to go? Cheers...”
    9 hours ago by Adviser1
  • It starts with governance
    “Well said as usual Russell, you’re right governance is one of the things that has been missing from the discussion and...”
    13 hours ago by JPHale
  • Financial advice makes NZers better off
    “Great initiative to support the industry, from an industry body...”
    15 hours ago by Pragmatic
  • Shake-up at AMP
    “Very well said by Amused ...”
    2 days ago by mike.lay
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com