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

 

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:


NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • NIWA: The Year's Top Science Findings

    Since 1972 NIWA has operated a Clean Air Monitoring Station at Baring Head, near Wellington... In June, Baring Head’s carbon dioxide readings officially passed 400 parts per million (ppm), a level last reached more than three million years ago. More>>

    ALSO:

    Extended Warranties: Godfreys Fined For Agreements It Sold

    New Zealand Vacuum Cleaner Company Limited (trading as Godfreys) was today fined $58,000 in the Manukau District Court after earlier pleading guilty to 10 charges relating to its extended warranty agreements. More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news