INSURANCE & INVESTMENT EXPLAINED

• Term Life :
  pays policy owner a lump sum on death;
• Endowment :
  
  pays lump sum and accumulated investment on expiry of fixed term or death,whichever is sooner;
• Whole of life :
  
  pays lump sum and accumulated investment on death;
• Permanent :
  
Pays death benefit on death or at end of term repays all premium paid.

Person - serious illness/trauma :-

• Pays lump sum on diagnosis of one of certain specified illnesses;

Person - permanent disability :-

• Pays a lump sum on being unable to perform defined independent daily living requirements;

Person :-

• Income protection :
  Pays 75% of your gross salary for a pre-selected benefit period after a pre-selected stand down period;
• Rural income protection :
  
  Pays 33% of gross farm income;
• Critical income protection :
  
  As for income protection but conditions are as for trauma insurance (above);

Person - Health :-

• Hospital care only through to Hospital care with specialist plus general practitioner costs

Person - Travel :-

• Comprehensive to predetermined maximum based on locations visited; terrorism cover available

Vehicle :-

• Fully comprehensive - Covers for damage to your vehicle and any third party's costs;
• Third party fire and theft - pays for third party vehicle damage and if your car is lost to fire or theft;
• Third party - pays for damage to third party's vehicle only

House :-

• Full replacement of house;

Contents :-

• Pays up to a predetermined value, plus for specifically identified items

Business :-

• Key person cover :
  key person is anyone who provides economic advantage to the business and who is invaluable to the success of the business. Provides for the hiring and training of a new key person;
• Share purchase insurance :
  life or serious illness protection which enables a surviving shareholder to purchase the ill or deceased shareholders' shares and comes with a share purchase agreement;
• Business loan insurance :
  On death or disablement, company borrowings can be repaid.
• Business expenses :
  Similar to income protection except business overheads less your salary are covered;

Savings :-

• Superannuation :
  Regular contributions, with or without an initial lump sum investment, with pay-out at retirement based on contributions and fund growth;
• Lump sum investment :
  straight investment plus benefits
• KiwiSaver :
  Government backed superannuation scheme with payout available at age 65
• Savings and investment :
  Short, medium and long-term investment to achieve predetermined goals based on investors choice of term and attitude to risk;