The greatest asset anyone can have is their health, followed by their ability to earn income.
A majority of New Zealanders have house and contents insurance; but many people lose their houses to loss of income resulting from sickness or accident instead of losing it to a fire or other disaster. In reality your health and wellbeing gives you the ability to earn income and supports your life. The best way to protect your financial security is to insure yourself correctly. Most Kiwis’ earn income through personal exertion – working hours for dollars – yet the majority of New Zealanders view their house/car as their greatest asset. Even though it may be their largest material asset, they view it as their first and foremost concern. Here’s a question… Does your house give you an income or does your income give you a house? If you have considered your house to be an income, you will need to address this theory.
Another thought… say your 25-30 years of age and your earning $80,000 per year. You have approximately forty years of working life left. Let’s multiply your annual $80,000 by forty years and you’re now talking about an asset worth $3.2 million, without adjusting for inflation. Surely this is worth insuring before a house and belongings.
If you think you may be under or over insured, give us a call. We would like to meet you personally, and understand your circumstances. We can then help get you the best cover package for your peace of mind and security.