Time for a Review
Our Financial Advisers can meet with you via video call or face to face.
It’s really important to understand that our advice is about finding the best outcome for you. Meeting with one of our Financial Advisers is NOT always about changing insurance companies or policies. Often the result of our advice can be to keep what you have or make adjustments within your existing policy however we will also search the market to ensure you are at the best company for you. All of our advice is in writing to you.
it’s important to audit your insurance policies with a qualified adviser when….
You got your policy from a bank or online..
Usually clients who use banks or websites to purchase their insurance have not received personal advice. This often means that the products they are sold are not appropriate for their situation. This can mean that if you ever need to claim, you may find out that your policy is lower quality, covers less conditions or has less favourable policy wording and definitions. Also, it is very unlikely that a bank will proactively contact you to review your policies which means over time they become irrelevant vs what you need.
Your Current Adviser Hasn’t Seen You Recently…
The occasional email and a free calendar is no longer good enough. Financial Advisers are commonly paid a servicing fee every year by the insurance company to ensure that they regularly meet with you to check that your policies match your needs. In the last two years, if you have not been through a full review process where the adviser has met with you, asked questions about your current situation, made written recommendations and searched the market for you then it is likely that the cover you have no longer matches what you need. This could mean that in a claim situation, what you get may no longer solve your problem.
You Have Generic Cover From your Work…
Many people have some cover via their employer. Sometimes this is free and sometimes it only has a small discount but more importantly it is almost always the same amount of cover for every employee. For many people, this can mean that the policy does not cover them for what they actually need. They may have too much, too little, or the wrong product combination. For example, your work income protection may have a 3 month stand down period which does not work for you or your Life insurance is not even enough to cover your mortgage. An audit with a Financial Adviser will help you understand exactly what your work policy covers and what it doesn’t and provide you with advice on what you can do to fill the gaps. Usually we won’t advise to change your work cover but build around it to ensure that your problems are solved if you ever need to claim.
