Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Not All Funeral Insurance Plans Are Created Equal!

Not All Funeral Insurance Plans Are Created Equal!

Consumers choosing to insure the cost of their own funeral may be paying too much and for too long according to Insurance Broker Des Morgan

Online insurance broker Des Morgan of insurance4me.co.nz said

“Most insurance plans in New Zealand have level premiums based on your age when you purchase and similar terms and conditions. There can however be a significant difference in the long term cost of the different plans.

Many of the funeral insurance policies available in New Zealand continue to charge premiums to you die, so unless you die within a few years of taking out the policy, it is very likely you will end up paying more in premiums than what will be paid out for the funeral.”

Morgan cites an example of a non-smoking male taking out a $10,000 funeral insurance plan at age 55 will often have paid more in premiums than the sum insured by the time he reaches 75. By the time he reaches 85 and many will he could have paid $6,000 -$8,000 more in premiums than his estate will receive at claims time.

Morgan is championing a new funeral insurance plan just launched on the market by Greenwich Life which is reinsured with giant international reinsurer Hannover Re. This funeral plan caps the premiums paid to the sum assured potentially saving the consumer thousands of dollars. You’ll never pay more than you’re covered for –guaranteed.

With his website insurance4me.co.nz Morgan said consumers can go online and have immediate access to quotes and can also complete their application online with no medical questions asked.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Finance: Major Campaign To End "Gross Overtaxation Of Savings"

The campaign – which includes a special web site through which New Zealanders can e-mail their own and other MPs and party leaders – is backed by Age Concern, Consumer NZ, the Financial Services Council and the Taxpayers’ Union. More>>

ALSO:

Scoop Business: Leighton-Led WGP To Build, Manage Transmission Gully

The Wellington Gateway Partnership, led by a unit of ASX-listed Leighton Holdings, has won the $1 billion contract to build the Transmission Gully road north of Wellington. More>>

ALSO:

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news