Risk Insurance

Life throws up many events for us to deal with and not all of them are pleasant. Typically, most New Zealanders have protection against the little things that can go wrong - wife backs into the garage door - but are not so good at protecting themselves against events that can dramatically affect their health, or both their and their family’s lifestyle.

What financial impact would there be on your FAMILY if the main income earner didn’t come home tonight due to a fatal accident, or Business Partner for that matter? Or if the main income earner (or ‘Key Person’ of a business) was unable to work for a good length of time? These are the type of questions I can help you with to ensure you have your bases covered.

Risk Insurance (also known as ‘Personal Insurance’) aims to provide functional and appropriate cover and works alongside business owners and individuals assessing their individual needs rather than providing a one size fits all solution. Allan spent 5 years away from Lending working for a NZ based Life Assurance company. During that time Allan was charged with training Risk Insurance Advisers. He got to know the industry and insurance covers very well all the while working closely with Underwriters, Claims staff, and Sales Teams.

Allan will take the time to personally meet with all his clients and get a good understanding of their situation, both business and personal, to identify the key factors that need to be prioritized in your Risk Insurance protection plan.

Personal Risk Covers include:

Life Cover
Trauma Cover (also known as Critical Illness Cover or Living Assurance)
Income Protection & Mortgage Income Protection
Total & Permanent Disability
Medical Cover

Business Risk - Three areas your business is vulnerable:

Controlling the ownership of a business should there be an ‘unplanned exit’ of a Shareholder
Repaying down Debt in a business should a Director/Shareholder (guarantor) die or be permanently disabled
Control cashflow should a ‘Keyperson’ in the business be unable to work for a length of time

The purchase of Business Risk Covers is to have RIGHT amount of funds, from the RIGHT source, passed to the RIGHT party, at the RIGHT time.

The above goes hand in hand with business ‘Succession Planning’. Whether the ‘exit’ of a Business Partner or Keyperson in the business is planned or unexpected ‘Business Risk Cover’ is vital for Succession Planning of a business.

In a “Forced Sale” situation, business assets may only realise approximately 35% of the owner’s perceived value.