Secure your health with tailored medical insurance plans from Futurisk Insurance, providing comprehensive coverage for individuals and families in New Zealand. Medical Insurance Our Solutions > Personal Insurance > Medical Insurance > Health Insurance protects your most valuable asset – your health! Medical Insurance Enquire Now Why Health Insurance? More choice – you choose how you receive treatment, and with your GP or specialist, you decide when and where. Less waiting – while you wait for treatment your health could be deteriorating. If you’re in pain, waiting can be difficult and emotionally draining. Less worry – people often worry when they are waiting for treatment and so do the people who love and support them. You won’t have to worry about having the money to pay for the best treatment. Protects your income - bad health could result in time off work and lost income for you and/or your dependent family members. If you’re paying for treatment yourself, that’s an additional financial burden Access to leading edge treatments - Health practices and treatments are advancing rapidly. Private Health-Insurance can gain you access to treatments that you may not otherwise be able to afford Medical Treatment Facts Currently in New Zealand there is a shortage of senior doctors, a problem that is predicted to result in a shortfall of 670 full-time equivalent senior doctors by 2021. Significant numbers of senior specialist doctors reaching retirement age and lifestyle factors are contributing to the problem Medical emigration to fill demand for specialist doctors internationally is also putting pressure on New Zealand’s supply of specialist doctors in the future. Benefits of Medical Insurance Get an earlier diagnosis and treatment with the right health insurance cover. Easy Access to Specialist. Access to advanced treatments. No Financial Stress. What can it cover? Health insurance takes care of the big things like surgical and non-surgical treatment in a private hospital. It also covers consultation with specialists, medications, dressings, rehabilitation and the cost of staying in a private hospital. It may also include the following: Surgical and Non-Surgical Benefits Cancer Care Overseas Treatment Health Support: Ambulance transfers Home nursing care benefit Physiotherapy Hospice care benefit ACC top up Funeral cover Additional Options: Specialist Option: Provides funds for specialist consultations and diagnostic tests like XRAY, ultrasound or cardiovascular examination. Dental and Optical Treatment: Cover for dental examinations and orthodontic treatments. This plan also covers optometrist and optician consultations, prescription glasses, audiometric tests, acupuncture, chiropractic, osteopathy, podiatry treatments, and speech therapy. GP Options: Provides cover for day to day healthcare costs including GP consultations, GP minor surgeries, pharmaceutical prescriptions, physiotherapy and nurse visits. Pro-Active Health: Provides cover for health screening tests, allergy testing and vaccinations, dietician or nutritionist consultations and even gym membership. Best Doctors: A worldwide network of doctors offering you and your immediate family access to leading specialists from New Zealand and around the world. Excess There are various excess options to choose from to suit your individual requirements without sacrificing essential benefits Chat to one of your local advisors today to organise a personalised insurance plan. Talk to an advisor Enquire Now Freephone 0800 17 18 19

Find tailored business insurance solutions to safeguard your company. Get coverage for liability, assets, and business continuity with Futurisk Insurance. Business Insurance Our Solutions > Business Insurance > Protecting your business’s ability to keep on making money. Business Interruption Enquire Now Insurance Benefits Cover your business to keep running after an unexpected event Covers the turnover that is lost so you can recover and rebuild Covers ongoing operating expenses Covers relocation costs What can it cover? Business interruption insurance can help your business to keep running after a claimable event. Business Interruption insurance can get you through a temporary crisis by protecting your cashflow, wages and unexpected claims related costs – so you can pay these expenses and help ensure the future of your business. It may also include: Ongoing operating expenses, such as electricity and rent Relocation costs for moving to, and operating from, a temporary location. Wages and Payroll Claims preparations costs; and more Cover insures a business owner against loss or damage to physical assets including buildings, contents, plant and equipment, and stock. Material Damage Enquire Now Insurance Benefits Protects business owners against loss or damage to their physical assets including building, plant, stock and fitout What is material damage? Cover insures a business owner against loss or damage to physical assets including buildings, contents, plant and equipment, and stock. Whether caused by accident, fire, theft, vandalism or natural disaster. Covers most vehicles used in business throughout New Zealand. Commercial Motor Vehicle Enquire Now Insurance Benefits Cover your business to keep running after an unexpected event Covers the turnover that is lost so you can recover and rebuild Covers ongoing operating expenses Covers relocation costs Don't let your vehicle become a liability Commercial vehicles are an important business asset. Their protection along with associated vehicle liability cover, is essential to the success of any business. You and your team may be good drivers and take all precautions to protect your vehicle, however your own driving habits are only one part of the equation. Accidents can occur due to other people’s driving, weather events or other natural disasters. We can offer cover for your business and commercial vehicles. Full comprehensive cover Third party fire and theft cover Third party only Important cover for commercial, industrial and domestic builders, sub-contractors, and property owners against damage, natural disasters, theft and product or public liability. Contract Works Enquire Now Cyber Insurance helps to protect your electronic data Cyber Insurance Enquire Now Insurance Benefits Protects your electronic data Covers you against external hacking or breaches of website or confidential data Protecting your business information and privacy from cyber attacks is vital, as everyone is a potential target. Cyber Insurance Includes: Protects against human or system error Reputational damages (business interruption) Post-event consulting costs Third party claims for data leaks Access to a team to support when an attack is happening. Freephone 0800 17 18 19 Other isurance options If you have specific insurance needs and have not seen what you are after on our website then please contact us. We have a range of options and may be able to meet your needs. Our advisors are here to help. Enquire Now Liability Insurance Options Public Liability: Covering your legal liability and the costs of defence for to third party property or personal injury where you may be found to be liable. Statutory Liability: Covering unintentional breaches to most statutory acts including legal defence costs, reparation costs and in some cases fines. Employers Liability: Cover for accidents and illnesses to employees during the course of their employment which are not covered by ACC and the costs of legal defence. Professional Indemnity: Cover designed to protect against economic loss sustained by third parties as a result of the performance of your professional services and advice. Management Liability: Provides cover for Directors & Officers Liability, Entity, Employment Practices Liability, Trustees Liability and Crime. Talk to an advisor Chat to one of your local advisors today to organise a tailored business insurance plan. Enquire Now Insurance Benefits Protects your business on construction sites Protects the building under construction from natural disasters or damages caused by theft or vandalism the turnover that is lost so you can recover and rebuild What can it cover? Depending on your policy, contract works insurance can cover you against: Natural disasters Damage to property Broken glass Defects Liability Liability Insurance Enquire Now

Nine Things to do to get Your Personal Finances in Order Nine Things to do to get Your Personal Finances in Order Contact Us 5. Set financial goals and save for them. Most people have dreams and goals. Problem is we don't plan a strategy to achieve them. Rather than saving for things like a new car or overseas trip, we go into debt to pay for them. Set goals, price how much those goals will cost, work out how much you need to save per month to save that amount, and go for it! 6. Protect what you've got. We all struggle with the "I" word = Insurance. If we never make a claim insurance can seem like money thrown away. Many people have fallen into a lifetime of debt because of inadequate insurance. Here's the general rule of thumb - anything you need but cannot afford to replace with cash if you lost it should be insured. This includes your ability to earn money. (Futurisk give free no-obligation insurance consultations; contact us to make an appointment). 7. Make a financial plan for retirement. People often ask, "When is the best time to save for retirement?" The answer is "now." There are two basic mistakes people make; the first is that they leave it too late to begin saving for their retirement. The second is that they assume their family home is an adequate investment for their retirement when it is only part of what they will actually require. A great way to save for retirement is through a workplace savings scheme, especially if your employer will make a contribution too. And, whatever your age, a great time to start is now. 8. Invest! Make your money work for you. There are many ways to invest other than property or the share market. We all need to determine which is best for us. Simply leaving money idle in the bank, however safe and secure it may be, is not maximising the earning potential of those savings. 9. Teach your kids about money. There is a definite lack in our school system as regards the teaching of basic personal financial management. Teach your children about budgeting, saving for things they want, how to write cheques and use internet banking, the true value of the things we buy etc. It'll pay off in the end - maybe they'll help you build a ‘granny-flat' on the back lawn of their mansion!! The team at Futurisk have three rules regarding personal finance: Spend less than you earn Pay off debt Don't go into debt This article expands on those rules - do these nine things and you need never worry about your finances again. 1. Know what you've got and work to increase it. A person's net worth is the value of everything they own minus everything they owe.In other words; assets minus debt. Many people do not know what their net worth is. Some would be surprised at how high it is, others shocked at how low it is. Set goals and plans that will enable you to increase your net worth. Decide on a figure that you would like to achieve in the next ten years and work out how you can achieve it. I think you might be surprised how much you could increase your net worth over a decade if you just start now and keep at it. 2. Budget! In New Zealand today the average person is spending 17% more than they earn, and that does NOT include mortgages (Dept of Statistics figure) - that means they are now adding to their net worth, they are going into greater debt. The reason people overspend is because they have not calculated how much money they are able to spend without going into debt. The answer is simple; do whatever you have do to ensure you spend less than you earn. Now, it's difficult to never go into debt but it must be avoided unless absolutely necessary. Borrow only what you absolutely need to, e.g. to buy a house. And, when you borrow money, make sure you know the true cost of borrowing that amount. Once interest payments and fees are added onto a purchase it can make for a very expensive item! 3. Pay off debt. This is one of the fundamental principles of good personal finance; pay off debt as quickly as possible. Start with the debt you're paying the highest interest on. This will usually be credit-card and hire purchase debt followed by personal loans and mortgage debt. Remember, the faster you repay debt the better off you are long-term because it is the interest payments that cripple us financially. Paying just the minimum repayments on your debt means you pay thousands of dollars in unnecessary interest. 4. Save for an emergency fund. The killer for the personal finances of many people comes when their washing machine dies or their car breaks down or some other unexpected crisis arises. With no savings we often go into debt that can that haunt us for a long time. Having savings equivalent to three month's income can overcome such an eventuality. NOTE: this is a good thing to do even if you are paying off a mortgage. However, if you have high-interest debt, pay that off first. View next post At Futurisk, we work for you, not the insurer. So when it’s time to make a claim, we’ve got your back. We’ve got your back Enquire Now Freephone 0800 17 18 19

Insurances You Can’t Live Without – General Insurance Insurances You Can’t Live Without – General Insurance Contact Us Insuring the things you own – contents insurance. While house insurance covers the actual building you live in, Contents Insurance covers the possessions within that building. Usually it’ll also cover those possessions while they’re temporarily out of your home (but not while they’re overseas). Most insurance companies separate Home Insurance and Contents Insurance into two separate policies and will give a discount if you take out both with them. There are two simple mistakes people can make with Contents Insurance policies. The first is to be under insured. The average New Zealander has their home contents insured for around $50,000. The average value of contents within a home in New Zealand is nearer $100,000. That may seem a lot, but take a walk around your home and begin to total up the value of everything you own—from your television to your computer, bedroom furniture, curtains, tools in your garage… it all adds up. The second mistake is to not read and understand your Contents Insurance policy before signing up for it. Many people assume they have a comprehensive policy only to find, at claim time, that it’s quite basic with many things not covered. Insuring your vehicle. To drive without car insurance is very unwise. It has caused many people to fall into debt that becomes very difficult to get out of. There are two main types of car insurance: The first is third party insurance. This is the most basic of policies and will cover any accidental damage you cause to another person’s vehicle or property, but does not cover damage to your own car. The second is comprehensive or full cover vehicle insurance. This covers damage to both your car, and any other vehicles or property you might accidentally damage. Full cover Vehicle Insurance is more expensive than a third party insurance policy, but, unless you can afford to replace or go without your car while, you save for a replacement, you should purchase full vehicle insurance cover. In all of this, remember that insurance is an essential part of your personal finances. Without it you can find yourself in debt; and once in debt, it can be very difficult to escape it. Sometimes it’s easy to feel like insurance is a waste of money, particularly if we’ve never made a claim. Before you get to thinking this way, however, remind yourself what insurance is for. When we purchase insurance, we’re purchasing a product. It’s like when we pay for groceries or petrol or a new television. In the case of insurance, we’re buying protection for our assets and for our financial future. A simple fact of life is this, unfortunate things happen. These things happen when we least expect them, and often catch us completely by surprise. In New Zealand today, one of the most common ways people fall into debt is through the unexpected need to replace a lost or damaged asset that was not insured. Here’s a general rule to bear in mind: anything you need for day to day living, which you could not replace with cash if you lost it, needs to be insured. In general, that boils down to three things: your home, your house contents, and your vehicle. Insuring your home – house insurance. House insurance—everyone has it, right? No. Not everyone does have their home insured. Following the Christchurch earthquakes it was discovered that around 15% of people were not insured and almost half of the homes that were severely damaged, were underinsured. You never know when your home will be damaged or how. Insuring your house: Following the Christchurch earthquakes, insurers have revised their method of assessing a home’s worth. For many years, insurance companies have used a formula based on size, improvements, building materials, etc. to calculate the cost of rebuilding a property. This is about to change. From this year, homeowners will have to state the amount they wish their home to be insured for, and the premiums will be set accordingly. This is good in one sense because it means you will receive the amount of money required to rebuild your home—provided you have insured your home for the proper amount. This new assessment method means you may require a valuation on your home to determine its replacement cost. View next post At Futurisk, we work for you, not the insurer. So when it’s time to make a claim, we’ve got your back. We’ve got your back Enquire Now Freephone 0800 17 18 19

Futurisk's Hot Tips for Saving Money on your Insurances Futurisk's Hot Tips for Saving Money on your Insurances Contact Us 4. Increase your excess. For most insurances (not life insurance), you will almost always have to pay an excess when you make a claim. By agreeing to pay a little more if and when you make a claim you can often get a discount on your insurance premiums. The one thing to be careful of is that whatever the excess is, you are able to meet that amount should you have to make a claim. 5. Work out the best way to make your payments. Insurance companies will often give a discount if you pay your insurance premiums in a yearly lump sum. That suits some people while others may prefer weekly or monthly payments. You need to do what is best for you. One thing is for sure though; there are savings to be made if you can pay annually. By the way, if you pay yearly it is good to spread the renewal dates for insurances throughout the year. If they all come due in one month it can be quite a stretch financially. 6. Review your insurances regularly. I can say with a degree of certainty that most people, if they haven't reviewed their insurances in the last three years or so, can save money by getting new quotes and reinsuring. It's worth taking an hour or so occasionally to contact a few insurance companies and ask for quotes on your insurance needs, in particular, vehicle, house, and contents insurance. 7. Go with one company. Many insurance companies will give generous discounts if you place all your vehicle, house, and contents insurances with them. When you buy an insurance policy, make sure you ask the question, "What discount will you give me if I put all my policies with your company?" 8. Use an expert! There is nothing like an expert to define what you require and discover where the best price can be found. Find a broker you can trust and get him/her to regularly review your insurances. If we were buying a new appliance or vehicle, we'd shop around. If we wanted some new computer gear or were renovating our kitchen, we'd look for the best deal. So why don't we do that with insurance? It seems many New Zealanders think of insurance as coming in a fixed package at a fixed price, but there are some practical things you can do to save money on your insurances. Here are six hot tips. 1. Work out what you need. Insurance premiums are calculated on the value of what you insure, so the higher the value, the higher the insurance premiums. To insure something for more than what it's worth means you are throwing away money every month. Whether it's for your life, car, home, contents or something else, work out what you want insured and how much it is worth. Don't be one of those people who waste money by over-insuring and so paying premiums that are higher than they need be. Also be careful not to risk a financial crisis by under-insuring and receiving money that doesn't cover the loss of an item. 2. Get quotes. If you are arranging your own insurance, get quotes from a few different companies. Especially for vehicle and house and contents insurance - the cost can vary greatly from company to company. One good way to know if you are getting a good deal is to work through a broker. They have usually sourced the best deals and may even be able to offer discounts because of the number of deals they put through. Remember though, the cheapest price may not equate to the best deal. That's where tip number three comes in. Read on.... 3. Make sure you know what you're buying. View next post At Futurisk, we work for you, not the insurer. So when it’s time to make a claim, we’ve got your back. We’ve got your back Enquire Now Freephone 0800 17 18 19

Frequently asked questions when buying a home Frequently asked questions when buying a home Contact Us Should I get an appraisal? Yes. An appraisal is an opinion of the value of the property you are planning to purchase. It's one of the requirements needed to apply for a home loan. Should I pay for a home inspection to check the house? Yes. It is a must to have a professional house inspector check the house first before you decide to buy to get your money's worth. We all want some peace of mind when buying something important like buying a house. Should I use an Agent to buy a house? Yes and No. Yes, because an agent can help you with finding a home that will suit you by giving you a list of available homes within your price range and can also give you some information about the housing market. However, be careful to choose by comparing background, experience and agencies. Or you can ask someone you can trust. No, if you want to do it personally and are ready to take on some house shopping yourself. Should I go directly to the bank or other mortgage lenders to borrow? You can go directly to your bank and ask about their mortgage lending criteria. Or you can let us help you by getting the best offer without the hassles of going through the all the rudiments of getting a home loan. How much can I afford? The answer to this depends on your income and your liabilities (debt). Ideally, most home buyers purchase a house that costs between 1 ½ to 2 ½ times their annual income. However sometimes, there are no houses available in your ideal price range. If this is the case, you may need to spend a bit more. Just keep in mind that your monthly mortgage repayment can't exceed 29% of your gross monthly income and your total debt payments (mortgage payments, car payments, credit cards and hire purchases) can't exceed 40% of your gross monthly income. How much can I borrow? It depends on a number of factors and these may include: The value of the home Your income and your ability to repay the mortgage How much you have saved towards your deposit If you are eligible for a First Home Loan Type of home you are planning to purchase How much should I offer for a house? Each property is unique on its own and the ideal offer will depend on how the buyer perceives the value of the property. If a particular house is overpriced an offer below the listing price would be appropriate. If it's just within the ideal price range, an offer at the asking price or just below the listing price will be fine and if it's priced below the actual value, then you are in for a good bargain (get it while you can soonest!). View next post At Futurisk, we work for you, not the insurer. So when it’s time to make a claim, we’ve got your back. We’ve got your back Enquire Now Freephone 0800 17 18 19

How important is third party car insurance How important is third party car insurance Contact Us Should third party car insurance be compulsory? The Government seems to be weakening on this issue. Some politicians are saying they want to see compulsory third party insurance on cars, and most New Zealanders agree with them. What many people don't realise is how inexpensive third-party insurance can be to buy and how expensive having no insurance can be in the event of an accident. I think our family's story should be a warning to every car owner; you may think you'll never have an accident of any sort, but they happen, and when they do, they can be very expensive. Insure your car and avoid debt! If you have a vehicle, insurance is vital. Remember, when you insure something such as a car, it is not the car you are insuring. You are insuring yourself so that, if you cause damage with that car you will not be placed under the pressure of a debt you may never be able to escape from. Vehicle insurance is not about insuring your car - it's about insuring yourself against a lifetime of debt! If you are uninsured because you find it too expensive, phone an insurer and ask for a third-party insurance quote - it's worth it for your own peace of mind. For years people have been writing letters to the editors of newspapers and phoning talkback saying that third party car insurance should be compulsory. We're not going to go into answering that question here, but one thing we do know for sure; if you're driving your car without at least third party insurance, you are crazy!! A lesson learned Let me tell you a story about our youngest daughter's most horrifying moment. We had an old blue Corolla. Three children had learned to drive in it and they were pretty good drivers. It was an old car, but it was a good car. Mechanically, it went well and there was very little evidence of rust. One day our daughter came home, parked the car in the drive and went inside. Minutes later, she heard a crash. She'd forgotten to put the handbrake on! The car had rolled backwards and into our neighbour's house. Amazingly, there was very little damage to the car. However, the house didn't fare so well. The car was now sitting in the front bedroom. The cost to repair the house was $27,000! As I talked with our daughter about this I pointed out, "If you didn't have insurance, you would be paying that off at $100 a week for the next five years." What is third party car insurance? Third party car insurance is insurance you take out to repair or replace any damage you do with your vehicle, it doesn't cover damage to your own vehicle. There are two types of third-party insurance; Basic third party insurance insures the damage you may cause to another person's vehicle or property with the insured car. Third-party fire and theft is slightly more expensive and insures damage to other vehicles, and to yours if your car if it is damaged by fire or stolen. So, while your car isn't covered, any damage your car causes is. That makes third party car insurance ideal for cheaper cars. The Corolla I told you about was only worth $1,000. To insure it was going to be about $500 a year because of the age of our children. Third party insurance, however, was only $150 a year - and it was worth every cent for our family. View next post At Futurisk, we work for you, not the insurer. So when it’s time to make a claim, we’ve got your back. We’ve got your back Enquire Now Freephone 0800 17 18 19

Car Insurance hiccups Car Insurance hiccups Contact Us 3. Taking your vehicle off-road Most would assume this rule doesn't apply to them – when was the last time you took your hatchback 4-wheel driving? However, off-road doesn't just mean doing jumps and doughnuts in the mud. If you try to do a U-turn in a paddock and a stampede of cows damages your car, that’s counted as driving off-road. If you park on the beach and your car gets damaged, that’s also counted as off-road, and is all the insurer needs to decline your claim. 4. Driving in unroadworthy conditions If you have an accident and upon assessment your tyres are declared to have had insufficient thread, your claim can be denied. It doesn't matter if you have a Warrant of Fitness, or if bald tyres had nothing to do with your accident. 5. Driving recklessly Burnouts and hand-brakies are a favourite past-time of many young folk these days, but attempting to do a manoeuvre in a car that goes wrong is means to have your claim declined almost immediately. There are a number of key things to remember when driving a car: always put on your seat belt, give way to traffic on the right, and make sure you've read the fine print of your insurance policy documents. These days you’d have to be pretty foolish to drive around without insurance. Damaging your car, or even worse, someone else’s, without insurance is a fast-track to debt. But something so many drivers forget is that even having insurance is not always a get-out-of-jail-free card. Your insurance policy will have so many special clauses and exclusions to give your insurer all they need to deny your claims, and put you out of pocket. Here are a few key exclusions to remember. 1. Breaching license conditions If you’re on a restricted license, and you have an accident while illegally carrying a passenger, your insurance claim can be declined. Even though your passenger had nothing to do with the accident, it still gives your insurer all they need to decline your claim. 2. Not securing your vehicle If your vehicle gets stolen, but you’d left the door unlocked or the window down, that’s another reason to have your claim declined. This one can get a bit tricky because there’s often nothing for the insurer to go on other than your word, so you could say it was locked – but that wouldn't be honest. View next post At Futurisk, we work for you, not the insurer. So when it’s time to make a claim, we’ve got your back. We’ve got your back Enquire Now Freephone 0800 17 18 19

How to know you have the right insurance cover - Life Insurances How to know you have the right insurance cover - Life Insurances Contact Us Which life-insurance should I go for? Term life insurance or a whole of life policy, which one should you go for? The obvious advantage of a whole of life policy is that it's like a savings account. You pay your premiums, and at a certain age you get something back. The disadvantage is that, for all that time, the premiums are higher. The question to ask when deciding which policy to go for is this, "If I go for the cheaper (term life insurance) policy, what will I do with the money saved?" If the answer is that you would squander it, then an endowment policy with the compulsory savings component is perfect for you. If, however, you're able to be more disciplined and put that money aside in some sort of investment for the future, then you might consider doing that and going for a term life policy. Insurances to protect your income: We almost always insure our most valuable assets-it's crazy not to! So, you've probably taken out insurance on your house, your car, your possessions... but none of these are your most valuable asset. Your most valuable asset is your ability to earn an income, and this needs to be protected because without it, you cannot pay your bills. There are two ways to protect your income: Income protection insurance, sometimes called disability insurance. Most income protection policies will, in the event of you being unable to work as a result of illness or injury, pay you up to 75% of your previous taxable income for a pre-specified term. As part of the policy, you can usually choose a stand-down period of four, eight, or 13 weeks before any income is paid out. The length of stand-down you select will be reflected in the premium you are charged - the longer the stand-down, the lower the premium. So, income protection means you continue to get a weekly payment despite being unable to work. Trauma or crisis insurance, sometimes referred to as critical illness insurance. This policy provides a lump sum on the diagnosis of certain specified critical conditions such as, serious cancer, heart disease and stroke. Some people say, it's like life insurance, but you don't have to die! What this means is, if you're seriously ill and need to take time off work, you'll be paid a lump sum to help with medical expenses, living expenses etc. That lump sum is agreed at the time you purchase the policy and, the greater the lump sum, the higher the policy premiums. So, in short, income protection pays a percentage of your income; trauma insurance pays a lump sum. Do I need to protect my income? The simple answer to this is, "Yes." Everyone needs to protect their income in case of an accident or illness. However, when considering income protection insurance you need to consider the value of it by weighing up your income, occupation and any offsets such as ACC payments and the like. For instance, if you are earning $40,000 per year, it may be that you would be eligible for that amount via a sickness benefit should you become ill. It nullifies the need for income protection insurance. One thing is for sure: Whenever you take out insurance, read all documents carefully so you know what's covered and what's not. To get proper advice on life insurances we recommend that you speak to an accredited insurance agent. Life insurances can be pretty confusing. There are so many products out there, and you never quite know which ones are best for you. And then, having decided on the type of insurance, there's the question of how much should you insure for? And when should you start with life insurance? One thing is for sure, however, living without any form of life-based insurance cover leaves your personal and business finances in a dangerous position. One of the most common ways of falling into debt is through the unexpected need to replace a lost or damaged asset that was not insured, and your greatest asset is your ability to earn. If that was suddenly removed from you, debt could quickly follow. Here's Futurisk's quick guide to life-based insurances. In terms of life-based insurances there are two aspects of cover you should consider to avoid potential debt for yourself or your dependents. The first is life insurance; this protects your dependents in the case of anything happening to you. The second is income protection insurance; this protects you and your dependents in a situation where you are unable to work because of some sort of illness. Let's look at these insurances more closely: Life insurances: The important thing to remember about life insurance is that it's not for you. Sure, it's your life that's insured, but the policy is for the benefit of your dependents. It's to ensure that they are able to live with some quality of lifestyle in the event that you're not there to provide for them. There are two types of life insurance policy: Term life insurance: Term life insurance agrees to pay your dependents or your estate an agreed amount if you die. The policy usually runs for a set term. That means, when you reach a certain age the cover ceases. You know longer pay premiums and you're no longer covered. Most people choose an age of about 65, a time when they no longer have children dependent on them, and have some income because they're receiving the pension. Because the insurance company realises the chance of you dying before this age is relatively slim, premiums are adjusted accordingly. This is why the premiums are usually lower than for the second type of life insurance. Whole of life or endowment insurance: Whole of life insurance (sometimes called endowment insurance) tends to be more expensive than straight life insurance because it combines life insurance with a savings or investment component. Endowment policies still mature when you reach a previously nominated age (usually 65), but you receive a lump sum. At that point the policy and premium payments cease. If you die before reaching that age, your estate receives the agreed insurance pay-out. View next post At Futurisk, we work for you, not the insurer. So when it’s time to make a claim, we’ve got your back. We’ve got your back Enquire Now Freephone 0800 17 18 19

How to decide before you buy something How to decide before you buy something Contact Us THREE: What will this item really cost me? If ever you decide to buy something on credit, the first question you should ask it this: "What will this actually cost me?" Recently I saw a lap-top that I'd quite like. It cost around $1,000. But there was a deal - the store said I could have it for just $10 a week spread over three years. $10 a week didn't seem much, until I worked it out. Spread over three years, $10 a week is a lot more than $1,000 - it's $1,560! You see what I mean? It wasn't such a great deal after all. I was paying one and a half times what the lap-top would have cost if I paid cash. Avoid purchasing anything on credit, but if you do, calculate the actual cost of the item - it may make you change your mind! FOUR: What can't I have if I buy this? We all have a limited amount of money to spend. That means, when we spend money on one item, we have to go without something else. So, before you buy anything ask yourself, "What is it that I won't be able to afford to buy?" Then ask which of those items you'd rather have. Remember this, if we buy a luxury item with cash, but then have to put our weekly groceries or petrol on our credit card, we have, in effect, gone into debt for that luxury item. FIVE: Will buying this item blow my budget? This question is like a summary question of the previous four. Living without a budget is dangerous for our personal finances. But a budget is only worth anything if we stick to it. So, if you don't have the available money to buy that treat, put off buying it until you do, it could save a lot of heartache in the long term. If you'd like any advice on your personal or business finances, contact the team at Futurisk. "Your money is burning a hole in your pocket." That's a phrase my mother used to use. It's another way of saying, sometimes we just feel like buying something! And, we've all felt like that at some time or another. We're down at the mall and we see something we'd like. We say to ourselves, "I've got to have that, and it only costs..." The reality is this, every time we purchase anything it impinges on our future lifestyle and living standard. That's why we need to pause and ask ourselves a few searching questions before we pull out our eft-pos card. Here's Futurisk's five questions to ask before you buy anything: ONE: Do I really need this? Impulse buying can quickly lead to regret, especially when a credit card is used. While there's nothing wrong with buying the occasional luxury, we need to ensure those purchases are within our budget. The best thing to do is set aside some money for those treat-type items, and stick to your budget no matter what! TWO: If I buy this, will I go into debt? The answer to this question is always, "yes," unless you're buying with cash, eft-pos or debit card, or you can clear your credit card before the next due date. New Zealand is facing a debt crisis and this is the number one way ordinary New Zealanders get themselves into trouble with their personal finances;we overspend on our credit cards. It only takes a small luxury here and another small one there, and before you know it - you're struggling to repay your credit card debt. The simple rule is - avoid going into debt View next post At Futurisk, we work for you, not the insurer. So when it’s time to make a claim, we’ve got your back. We’ve got your back Enquire Now Freephone 0800 17 18 19

Top tips for keeping your house warm this winter Top tips for keeping your house warm this winter Contact Us Opening the curtains during the day is also a good idea. We often think that open curtains during daylight hour means losing all your precious heat during the day, but opening the curtains makes the most of the sun - the most effective and affordable heater known to man. Just make sure you remember to close them when the sun goes down. Closing unused rooms is another effective method to prevent your precious heat being wasted. If you're not intending to use certain rooms for the rest of the day, close the doors. That way your heat stays where you want it to be. Bear floor boards are a welcome invitation for the cold, and account for as much as 10 percent of heat loss. Wooden floors are the worst for leaking heat, but this can be prevented, or at least minimised, by placing rugs and blankets over the floor. This also has the added bonus of keeping your feet warmer too. If you're keen to know how you can further prevent heat loss in your home, get up and walk around on a cold evening. Are there drafts coming from outside? From beneath doors? From between the floorboards? Have a think about what you could do to keep your house warmer this winter without splashing the cash! Reference NZFSG Keeping your house warm over winter can be hard. It can cost a small fortune to generate enough heat to get your house warm, and then there are so many ways for cold air to take its place. Luckily there are some affordable and simple ways to keep your house warm this winter that don't require a big budget or a degree in rocket science. Thick curtains are great for trapping your heat inside, and curtains with thermal lining are even better. But if you have only got standard curtains in the house, there are a couple of tricks you can use to maximize their heat retention. Thermal lining can be expensive, but other materials, such as cheap fleece, can be almost as effective. Just line the backs of your curtains with some fleece from your local fabric shop, and you'll be able to see the difference. In fact, you can even use an old PVC shower curtain to do the same thing. And it's not just the windows that need to be covered. Doors are notorious for leaking heat, so putting a curtain over your door might be a good idea too. And why not put a rug or folded towel at the foot of the door to stop your precious heat leaving the room. View next post At Futurisk, we work for you, not the insurer. So when it’s time to make a claim, we’ve got your back. We’ve got your back Enquire Now Freephone 0800 17 18 19

How your bank decides to loan you money How your bank decides to loan you money Contact Us Equity (sometimes called Collateral). Equity is a measure of your net worth. It's the value of what you own minus the value of what you owe. In short, the bank wants to be sure that, if you can't repay your loan, you have enough value in your home so that, if they sell it, they can recoup the money you owe them. This is why part of the application form will include a measure of assets versus liabilities. In recent times this became a problem for the bank (and for the person they loaned money to). You see, the banks were loaning 100% on the value of a home. That meant, if the housing market dipped and a mortgage holder couldn't repay their loan, the bank would sell the property but not recoup all their money. So, the person who borrowed the money is now without a home, and still owes money to the bank. This is why there is so much talk about LVR; that is, your loan to value ratio. LVR is the amount you will owe on your house divided by the amount it is worth. LVR's vary from bank to bank but most will usually only loan up to 80% LVR. That means, if you want to buy a new home you will usually need at least 20% of the purchase price as a deposit. It also makes it quite easy to work out how much you can afford to spend on a house - just multiply your deposit by five. Character. For many banks, your financial character is the most important criteria used to assess whether you qualify for loan or not. Banks will look at your financial track record to determine whether they think they can trust you to repay a loan. They will take into account things like whether you have; previous defaults on any type of loan repayments, fines owing, a poor credit rating, a poor job history, or whether you are constantly going into unarranged overdraft. This is why banks ask for three months' bank transactions before giving out a loan - it's to check how well you manage your finances. This is an aspect of borrowing that many people underestimate. It's not just about having a deposit. The bank is more concerned about getting back the money it gives to you, and to prove that you will do that you need to have a good credit and banking record. The challenge. The challenge is simple; if you think you are going to want a bank loan sometime in the future, you need to be proactive now in ensuring you are an attractive client to the bank in these areas; Serviceability Equity, and Character. The team at Futurisk would love to talk to you about all aspects of your personal finances. You will have read in the news that banks are tightening up on lending money to home buyers. Not so long ago it was easy to get a loan, now many first home buyers are wondering how they will ever secure the money to get into their own home. There are, however, things you can do to make yourself more suitable for a bank loan. But don't leave these things until the last minute. If you think you may want to purchase a home in the future, think about these things now. The bank uses three criteria to assess whether to give you a loan There are three key criteria the bank will measure a potential borrower against; Serviceability Equity Character Serviceability (sometimes called capacity). Serviceability measures your ability to repay a loan. Basically, it is your income minus your expenses. This is why, when you apply for a loan, the bank asks you to complete an application form with records of your monthly earnings and monthly spending. Each bank will have a slightly different mathematical formula to calculate serviceability, and slightly different requirements regarding the surplus funds you should have at the end of each month. However, in general terms, banks will expect you to have a monthly surplus of around $300 after all your expenses have been paid. Two things will greatly affect your serviceability and therefore your chance of getting a loan. The first is overspending. If you're thinking of asking the bank for a loan, begin to economise now so that you can show you're able to live on a minimal budget. The second thing that will affect your ability to service a loan is existing debt. If you have debt, you will be making repayments. Those repayments will count against you being granted a loan; and that includes the debt from a student loan. Remember the old rule - pay off debt as quickly as possible. View next post At Futurisk, we work for you, not the insurer. So when it’s time to make a claim, we’ve got your back. We’ve got your back Enquire Now Freephone 0800 17 18 19