Seven most common mistakes when getting insurance!
Seven most common mistakes when getting insurance!
SEVEN expensive and avoidable mistakes that people make every week with their insurances At New Vision Financial Services we visit hundreds of people every year. Experience has shown that about 93% make a number of expensive and unnecessary mistakes with their risk management:
MISTAKE 1
Paying far more than you need to for your health insurance.
You now have competitive options that provide affordable protection against the medical costs that really count, surgery and hospital expenses.
MISTAKE 2
Neglecting to insure your most valuable asset - your power to earn an income.
Just because your health suffers a temporary setback, why should your income and lifestyle suffer permanent disruption?
MISTAKE 3
Over-spending to insure the last and least likely event to occur. (Death)
Not everyone needs Life insurance. What is right for you and your circumstances?
MISTAKE 4
Putting the family home and your most valuable asset at Risk.
If you lost the ability to work or earn an income, how long would you be able to continue making the mortgage payments?
MISTAKE 5
Neglecting to cover the traumatic event that is three times more likely to impact on your income and lifestyle.
If you had just been told you had cancer, or if you had a heart attack would you prefer a get-well card, or a cheque for $500,000?
MISTAKE 6
Presuming that any policies you established several years ago are still relevant and cost effective for your current
circumstances.
When was the last time your risk management plan was objectively reviewed to ensure it would meet your needs today?
MISTAKE 7
Failing to use the services of a proactive risk management adviser, with no obligations or quotas.
Do you have a relationship with a trusted adviser who is committed to protecting the future prosperity of your family? Find out today if your existing risk management plan is capable of holding your family together in a crisis, and relevant enough to sustain your current lifestyle.
Unfortunately, in the past the insurance industry has not served it's clients the way that is expected in todays economic environment. These days of flogging a product still goes on. However the consumer will pick up on this and reject the sale at some point. If the process is a consultative and educational journey, then the consumer buys in to the solution. If all aspects of cover are discussed; then the client choses from the range of offerings; most of these highlighted mistakes will be negated.
When looking at risk products; always go through a consultative process. Use a professional who knows what they are doing and ensure you understand how these policies work (or are limited) from a claim point of view.
Glen Hatcher
Director, New Vision Financial Services Limited
http://openbox.co.nz/insureyounz/main.html
How Indemnity Insurance Works And Why Any Business Would Need It Why Errors And Omissions Insurance Is Important To Professionals Understand The Role Of Alignment In Money Manifestation Wedding insurance: basic need for a wonderful wedding Do Not Forget Renters Insurance Protection It's Cost-effective Why Having A Good Disability Insurance Policy Is So Important How to get out of a horrific insurance Insurance enhances peace of mind Safety Tips From Insurance Companies Saving Money on Commercial Truck Insurance Insurance Broker Bonds and US Customs Bonds that are Mandatory Understanding US Customs Bonds and Insurance Broker Bonds Nail techs need coverage