In-Touch with Keystone : October 2019
Welcome to the October issue of “In-Touch with Keystone”
It’s hard to believe we have crept into October already – the end of the year will be soon upon us. I hope this “In-Touch” finds life going well for you. The year has been a flash personally, with a growing extended family and the loss of both parents over the past 12 months. Six grandies keep us more than occupied in our spare time and are so much fun to watch grow and develop.
Please take some time out for yourself and have a read through this "In-Touch" issue, which focuses on income protection.
Why do I need Income Protection?
Income protection insurance looks after you, financially, if you are unable to work due to an unforeseen medical condition or accidental injury – a time during which your ability to earn could be severely impacted or lost altogether.
If you lost your income for an extended period, would you be able to meet your financial commitments and maintain a comfortable financial position?
What is the true value of your income?
While your immediate future is important, the total and true value of your income is as well. For example, someone who is 40 years old and earns $70,000 per year has another 25-30 years of work left until retirement. Therefore, the total and true value of this person's income is more than $1,750,000 (without considering income growth). That is a lot of cash flow and worth protecting.
Will ACC cover you?
ACC can provide some income replacement following accidental injuries, but they do decline a significant number of claims.
If ACC can attribute your injury as gradual, then they can decline your claim.
If ACC can attribute your injury to degeneration, then they can also decline your claim.
Life insurers don’t work on that basis. Income protection will provide you with a financial back-up if you are unable to work at your usual occupation due to an illness, degenerative condition or accidental injury. Unfortunately, many New Zealanders don’t have income protection - a Financial Services Council survey* suggests up to 80%.
Most people tell me they don't have income protection because it's too expensive. It can be - but it doesn’t have to be. Income protection comes in many different forms, including mortgage repayment cover and business continuity cover. My job is to help people identify the right option for their situation and one that fits their budget. I also make sure that the policy terms and conditions are explained and understood.
Get in touch
If you (or a friend or family member) don’t have income protection, or you would like to review your options, feel free to get in touch with me. I can advise you which options will fit within your budget.
*Reference: https://www.stuff.co.nz/business/77654956/new-zealanders-lack-insurance-on-their-most-important-asset
How else can Keystone help you?
My passion and focus is to be the best insurance specialist possible. I have many professional colleagues in other fields of financial advice whom I trust and use for their advice as well.
An accountancy firm, for on-point accounting and financial advice.
A law firm for many aspects of legal advice (including wills, enduring power of attorney, sale and purchase of property, legal agreements).
Investment advisers for specialist investment advice.
Mortgage advisers for finding people the best mortgage deal for their situation.
Commercial insurance brokers for self-employed people and business owners who need specialist commercial insurance.
I also have trusted contacts in other areas of service – such as property management, property maintenance and IT support.
So please, make contact if you would like to put in touch with any of these people.
How else can Keystone help you?
If an unexpected health event happens and you need to claim on your insurance, it can be a daunting process at an already stressful time. At Keystone, we're here to help you with your claim. Contact us, and we can support you through the process. Watch this short video to find out more.
Recipe of the Month
Try this amazing dessert – we had this recently. It was gone in a flash. Not only was it delicious, but berries are fantastic for you, containing plenty of fibre, vitamin C and antioxidants.
Click here for Luke Hines' mixed berry and apple crumble with chocolate coconut crumb
New Zealand health awarness events
Spring is finally in the air. If you're feeling motivated to get out and participate in a good cause, here are some health-focused events coming up over the next couple of months.
October is Breast Cancer Awareness month, and you can help raise money for the cause by going pink for a day at your workplace.
The Stroke Foundation is holding its annual Big Blood Pressure Check on Saturday, October 5, meaning you can get your blood pressure checked for free at participating Pak'n'Save and New World supermarkets. If you miss out on the day, don't worry - free checks are available throughout October at Unichem and Life Pharmacies, or in the Big Blood Pressure Check van, which will be cruising around Auckland.
It's time to cultivate that moustache! Once again, Movember is encouraging you to grow a magnificent crop of facial hair to raise awareness (and money) to tackle prostate cancer, testicular cancer, mental health, and suicide prevention.
November is also Diabetes Action Month, which encompasses World Diabetes Day on November 14. This year's theme is "Protect Your Family". Fifty per cent of type two diabetes cases are preventable, and you can learn how to take action to protect yourself and your family here.
This year's White Ribbon Day, on November 25th, promotes respectful relationships towards women and the prevention of family violence.
With summer just around the corner, it's an important time of year to remember the rules of safely barbequing food, especially chicken. Brush up on your safe barbequing skills at the NZ Food Safety website.
Thanks for reading
I hope you enjoyed this edition of "In-Touch with Keystone". If you'd like to provide feedback or have questions on anything we've covered, please contact me via any of the methods listed below. Take care, and I'll be back in touch soon.