NIB Healthy Insurance

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Many people think ACC will pay if they get sick.

But ACC only pay for "accidental injury", not sickness or illness

and ACC definitely only pay up to a limit. This represents a huge risk to most New Zealanders as the historical statistics show that 5 out of 6 disabilities are caused by illness - not accidents.

One insurance company revealed in it's claims statistics that the average age of the worker making a claim on their income protection plan was 43 YEARS OLD - obviously many are younger and many much older. This "average" age though is when many have their largest personal financial commitments. So often, when people can least afford to take the risk, they most need protection.

If you do have an accident then ACC should provide something. Often however it is not as much as people hoped, because many self employed legitimately minimize their personal taxation position – and ACC work on you personal taxable income at claim time.

For the self-employed there are a few things to do that make good sense, and can help to avoid the problem entirely.

1. Get some professional advice to work out what ACC might provide, and which of the ACC products are the best choice in your situation.
2. Build up some cash reserves so you can self fund a month or two, and park the reserve outside of your business.
3. Consider some of the business insurance plans that can put money into your business, by covering temporary loss of a key person (like you!) or covering some of the overheads and expenses. They are a business expense too by the way...
4. Once you've covered the first 3 steps it makes sense to work out what shortfall there might be coming into your household from your business and then look at your personal insurance protection.

It is possible to set up your affairs so that money comes in if you are too ill to work in your own business, and with some good advice and good planning you can do it in a way that gets the best out of ACC, and your business, and your personal insurance plan.

For a limited time you can get Health Insurance Cover for Pre-Existing Conditions!

Southern Cross Health Society are the largest providers of health insurance in New Zealand.

They have a range of healthcare plans to suit different needs, budgets and to accommodate life stages.

We are pleased to be able to offer their products and to assist you deciding which may be suitable for your needs.

Southern Cross are currently making a very special offer.

Get cover for qualifying pre-existing conditions and save up to 20%*

Take out a new VIP policy before 30 September 2015 and get **:

• cover for qualifying pre-existing conditions after 3 years continuous membership, and
• a 10% special joining discount off your first year’s premium
• PLUS a possible 10% healthy lifestyle reward for the first two years.

Of course as always terms and conditions apply. Please contact us by email at admin@bayfinancialpartners.co.nz or by phone on 07 578 3863 on 07 578 3863 for details.

• If you've investigated health insurance in the past and found they wouldn't cover you because of a pre-existing condition, or
• If you've just assumed that pre-existing medical conditions would prevent you from getting health insurance

Now is the time to get in touch with us. Ring Jonathan on 07 578 3863.

*Total premium discount based on standard publicly advertised rates for individuals (without healthy lifestyle reward applied to those rates) available through Southern Cross contracted Advisers as at 31 May 2015.

** This offer is subject to standard policy terms and is open only to new individual sales (transfers, ex-group members or upgrades to existing policies will not be eligible for this offer). Promotion terms and conditions apply - www.southerncross.co.nz/society/buying-health-insurance/discount-offer-terms-and-conditions. Full details of the policy benefits, maximums and any exclusions or other conditions that may apply can be found in the Terms and Conditions and relevant Schedule of Benefits

Russia’s largest bank is hoping more millennials will ‘Pika-choose’ their products after seizing on a way to capitalise on the gaming craze currently sweeping the world.

Sberbank is offering 50,000 rubles worth of insurance coverage, equivalent to NZ$1,125, for personal injury while playing Pokemon Go.

Players simply need to enter their details, including their Pokemon Go nickname, online to receive the cover.

There have already been reports of injuries to players who have been distracted or disorientated while playing the game, and Sberbank is hoping to gain from concerned players.

However, Sberbank life insurance CEO Maksim Chernin said there was also a higher game in play, rt.com reported.

“It is also important for us that the project will improve financial literacy, as the younger generation will be able to learn about insurance instruments while playing the game,” he said.

The bank said it planned to install special Pokestops modules that will lure Pokemon and players to its offices.