Did you know that you’ve likely been in a situation that qualifies you for extra cover or an increase in some of your insurance covers – without needing to answer any medical questions? And if only we’d known about your situation, we could have sorted it for you. That’s what we’re here for!
When you’re insured, these situations can include when:
– you have a child by birth or adoption
– you begin permanently living with someone in the nature of marriage or civil union
– you divorce or dissolve a registered civil union.
– your spouse or partner dies
– you get a new or increased loan of at least $25,000 for their primary residence, a new residential investment property, a holiday home, or a bare block of land zoned as residential; as long as the relevant property is solely residential
– your annual salary increases by at least $5,000. (Annual salary means regular remuneration, excluding extra income such as bonuses or overtime payments.)
– you become a carer for the first time.
These are often referred to as “special events” by an insurer. And, the thing is, we can’t help you unless we know.
Although your Special Event Option may entail a few conditions, it presents an opportunity to get more cover without medical underwriting.
If you’re unsure, it pays to check in with us. Most of the staff at Imak Advice can answer questions, let you know what any increase could look like and explain your options.
Usually, you have 12 months to apply for increased cover. However, this can vary between insurers, so talk to your Imak Advice Financial Adviser for assistance.
Most insurers offer special events benefits to the following products:
– Life Insurance
– Trauma/Critical Illness Insurance
– Income Protection
Unfortunately, we often sit down with clients for a review and find that an opportunity for extra cover has gone by. It’s a shame to see people miss out because they didn’t think to tell us, and we at Imak didn’t know what they were going through.
We would love to hear from you if you think we can help with questions on a “special event” If you think it is time to have your situation looked at again to ensure the covers are appropriate, then it’s also a great reason to get in touch.
Call us on 09 307 9300 or email info@imak.co.nz.
