Insurance
19/8/2020

The importance of working with an insurance specialist

Finding the right life, health, and income protection insurance can be complicated and confusing, especially if you go it alone.

So, where should you go for insurance guidance? Direct to an insurance company? A broker? Or should you try out that "no medical info required" life insurance advertised on Facebook? (Spoiler alert: not a good idea).

There are so many options around, and unfortunately, some insurance businesses are transactional and won't necessarily put your needs first. Cheap, fast insurance may seem like an easy option, but we liken it to fast food: convenient, but not terribly good for you in the long run.

So how do you make sure you get the right insurance for you?

Use a specialist.

Signs of an insurance specialist:

  • They have years of experience under their belt.
  • They have plenty of positive online reviews and testimonials.
  • They hold relevant qualifications.
  • They work with a range of insurers – not just one or two.
  • Their business has a professional online presence.
  • They ask for your medical notes during application.
  • They are thorough and meticulous.

Applying for insurance correctly requires plenty of information – your information – and time for the insurer to assess this information in a process known as underwriting.

The more detailed your application, the better. In the event of a claim, the insurer will always require full medical notes – so we believe it is better to do this at application time. Many insurance advisers don’t bother asking for medical records, but claims are much more straightforward when the policy has been set up correctly.

The process may take slightly longer, but under the guidance of a professional, you’ll end up with effective, thorough cover that fits into your budget.

Good insurance isn’t easy, and easy insurance isn’t good.

An insurance specialist’s service to you doesn’t end after your policies are put into place. If you need to make a claim, you’ll have a point of contact to help fast track your approval and claim payment.

At Finsol, we don’t promise a fast process, but we can guarantee it will work for you when it matters: at claim time.

Insurance is an investment, and you can’t put a price on the security that comprehensive insurance provides.

The opinions conveyed in this article are for general educational purposes only to provide information about the financial services industry. 

This information is not intended to provide specific advice or recommendations for any particular insurance, home loan, or investment product. You should not use this article to make any financial decisions, as we cannot assess your situation without thorough consultation. We highly recommend seeking professional advice from one of our qualified financial advisers. Get in touch on 0800 346 765 or email finsol@finsol.co.nz.



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