Are You Over Being Underinsured?

We know we need insurance but we may be tempted to go with what looks good – we may put price and convenience ahead of choosing the right insurance product that gives us the cover we need when the unexpected happens. 

We avoid the paperwork, don’t read the terms and conditions and skip the small print. We also avoid advisers because they want to talk about difficult topics when we’d rather be doing something else.

According to a report commissioned by the Financial Services Council – the People Insurance Gap – Exploring Underinsurance in New Zealand – there is evidence of widespread inadequate insurance, with 54% of Kiwi main income earners being more than 20% underinsured for life insurance and 43% being over 40% underinsured.

Additionally, people are not reviewing their insurance when their personal circumstances change.

Prepare now for the unexpected. Talk to our colleagues at AdviceFirst about how we can assist you with planning for the future. Call them on 0800 438 238 or click here to send an email and find out how to get the cover you need now.

Source: Exploring Underinsurance within New Zealand, Massey University study for the Financial Services Council. FSC Underinsurance Project 2011.  Michael Naylor, Dr Claire Matthews, Dr Stuart Birks, School of Economics and Finance, Massey University of New Zealand


Are You Over Being Underinsured?

There is evidence of widespread inadequate insurance, with 54% of Kiwi main income earners being more than 20% underinsured for life insurance and 43% being over 40% underinsured.

We know we need insurance but we may be tempted to go with what looks good – we may put price and convenience ahead of choosing the right insurance product that gives us the cover we need when the unexpected happens. 

We avoid the paperwork, don’t read the terms and conditions and skip the small print. We also avoid advisers because they want to talk about difficult topics when we’d rather be doing something else.

According to a report commissioned by the Financial Services Council – the People Insurance Gap – Exploring Underinsurance in New Zealand – there is evidence of widespread inadequate insurance, with 54% of Kiwi main income earners being more than 20% underinsured for life insurance and 43% being over 40% underinsured.

Additionally, people are not reviewing their insurance when their personal circumstances change.

Prepare now for the unexpected. Talk to our colleagues at AdviceFirst about how we can assist you with planning for the future. Call them on 0800 438 238 or click here to send an email and find out how to get the cover you need now.

Source: Exploring Underinsurance within New Zealand, Massey University study for the Financial Services Council. FSC Underinsurance Project 2011.  Michael Naylor, Dr Claire Matthews, Dr Stuart Birks, School of Economics and Finance, Massey University of New Zealand


Are You Over Being Underinsured?
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