MMS #41 | Insurance 101: Mastering the basics PART TWO

*Disclaimer: This podcast material is for information purposes only. Simplicity does not provide financial advice or offer insurance products. Simplicity is not affiliated with Partners Life or any other insurer, and we do not provide recommendations or referrals.*

In this second episode of our insurance 101 series, Liv welcomes back Mark from Partner's Life to get into the nitty gritty of personal insurances. Building on our "why" and "how" from Part One, this episode focuses on understanding the specific types of personal insurance and how they cater to different life stages and needs. This episode covers:

• Life insurance, its primary purpose and specifically what it covers
• Trauma and critical illness insurances, explaining how they provide lump sums for specific medical diagnoses
• A quick overview of Total Permanent Disability (TPD) insurance and how it differs based on one's ability to work post-incident
• Mortgage and income protection insurances, and their benefits in replacing income during periods of inability to work
• Clarification on health insurance and its role alongside public services like ACC (including what that covers)
• The advice process when it comes to insurance - how to choose an adviser, what their requirements are, what exactly they will do (and what's required from you)
• How to claim against your personal insurances (and how advisers can help)
• Ways to tackle affordability when it comes to paying for insurance among today's cost of living challenges

By the end of this episode, you’ll hopefully have a more comprehensive understanding of different insurance types, so that you can be better equipped to make informed decisions about your insurance needs. Whether you're looking to secure your family's future or ensure your income in case of disability, this discussion will take you through some of the main choices available to understand what protection is available for different circumstances.

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Disclaimer: This podcast contains personal opinions and is intended to provide educational information only. It doesn't relate to your particular financial situation or goals and is not financial advice or recommendations. Simplicity New Zealand Limited is the issuer of the Simplicity KiwiSaver scheme and investment funds. For product disclosure statements please visit Simplicity's website simplicity. kiwi.