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Typical insurance packages available in New Zealand

Life Insurance
50blendedfamily.jpg Life cover provides a lump sum payment in the event of death. This lump sum can help reduce debt, pay for final expenses, provided the investment required to fund the retirement gap left because of the death of a loved one, create an investment fund to generate ongoing income, enable business ownership to be restructured or provide an inheritance or donation, amongst other things. The purpose of the funds is entirely yours to decide.
 
Early payment of benefit
Depending on the sum insured and the complexities of an estate it can take some time before the proceeds of a life policy can be legally released. To assist with immediate expenses while that process is completed, the bereavement support benefit allows around $15,000 of the life cover to be paid out immediately upon notification of death.
 
When the news is bad
Life insurance allows the life cover benefit to be paid out early upon diagnosis of a terminal illness. While this is not something any of us want to think about, having access to these funds at this time can help prevent financial stress from compounding the obvious emotional stress at such a difficult time.
 
Premium options
You have typically have three premium options to choose from for your life cover:
 
Yearly renewable term
Your premiums are based on your current age and sum insured and are adjusted each year on your policy anniversary.
 
Level term to age 65
Premiums are averaged and then guaranteed to remain the same until you reach age 65 at which time the premium structure automatically reverts to yearly renewable term. Premiums only change in line with any changes to your sum insured until age 65.
 
Level term to age 80
Premiums are averaged and then guaranteed to remain the same until you reach age 80 at which time the premium structure automatically reverts to yearly renewable term. Premiums only change in line with any changes to your sum insured until age 80.

 
Future proofing the value of your benefits
To ensure your life cover benefit can continue to deliver the same real value to you as when you first purchased it, your life cover benefit will automatically increase by inflation each year. These increases apply irrespective of any changes to your health after your life cover starts.
You can also have an option to set a minimum inflation rate of 5% so even when the inflation rate falls below this level your life cover will still increase by 5%.

Of course, if your life cover does increase by inflation, so will your premiums. You can choose to decline any increase in any given year without losing the automatic increase in following years, so you really have the best of both worlds – automatic rights to increase with no obligation to do so.

 
Turning claims promises into reality
Insurance companies are regaining public confidence by promising to pay out on “grey area” claims. Iconic Financial partners with insurance companies who manage claims fairly and ethically, irrespective of what the law might allow as an insurer.
 
Expert assistance
If you or your family would like assistance with managing the proceeds of a life cover claim, some insurance policies provide a financial and legal advice benefit which reimburses the costs of a financial planner and/or lawyer up to a maximum of around $2,500.
 
Special events increases
Most insurers recognise there are a number of life events which can trigger a need to increase your life cover. The special events increase benefit allows your life cover to be increased (within limits) without further health assessment for the following life events:
• Marriage or civil union.
• Divorce or legal separation.
• Becoming full-time carer for a dependent relative.
• Birth or adoption of a child.
• Taking out or increasing a mortgage.
• A dependent child starting full-time tertiary study.
Iconic Financial will help you understand and implement these life-event increases as they occur.

 
Optional increase benefit
In addition to the automatic inflation adjustment and increase options under the special events increase benefit, you can also purchase a future insurability option which allows further increases to your life cover each year without further assessment (up to certain limits).
 
Worldwide cover
Your life cover is valid wherever you may be in the world.

 
No Obligation Consultation at Our Expense
If you want to find out more about life insurance see us today. We offer a no obligation meeting at our expense.  It wont cost you anything to find out what benefits you will gain by being insured.  Contact us today and give yourself peace of mind that you've got it covered.
 


 
Income Protection Insurance

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Income cover provides a financial safety net should you suffer a total or partial disability which causes a reduction in your ability to earn your normal income and which lasts longer than the chosen waiting period. The monthly benefit is designed to replace a significant portion of lost income to help maintain your usual lifestyle during treatment and recovery.
Benefit agreed upfront or assessed at claim
You have the choice to provide financial evidence at application time to obtain an agreed monthly benefit, which is not then financially assessed again at claims time. Alternatively you can choose to purchase an indemnity benefit which will be calculated based on the income you can prove you were earning just before becoming disabled.
 
Waiver of waiting period
If you suffer a recurrence of a previous disability or a new disability within twelve months of ending a claim under income cover, the chosen waiting period is often waived for the second disability. This is to reflect the fact that you have most likely exhausted your available sick leave and annual leave entitlements during the previous waiting period.
 
Retraining and rehabilitation
If you are receiving a claim under the income cover benefit, your insurer will most likely assist you with and may reimburse costs associated with retraining and/or rehabilitation programmes that might assist you to return to work.
 
Return to work reward
If you are receiving a total disability benefit and manage to return to work on a part-time basis as part of your recovery, some insurers will boost your partial disability payments with bonuses once you have been back to work part-time for three months and then again after six months.
 
Emergency transport costs
Your income cover will often reimburse you for the costs of any emergency transport you require as a result of your disability (up to certain limits).
 
Special equipment or home modifications
If you need to purchase specialised equipment, prosthetic devices or make alterations to your home or vehicle as a result of a disability, your income cover will often reimburse those costs (up to certain limits).
 
What if the disability is total and permanent?
If you are claiming a total disability benefit and it becomes clear that you will never be able to return to work again, then some income cover policies will pay you a lump sum of up to twenty four times the monthly benefit and your regular monthly benefit will also continue (certain conditions apply).  Please note that this benefit is not available on all income protection policies.
 
Bringing you home
If you have been working overseas for more than three months when you suffer a disability and you wish to return home, your income cover includes a return to home benefit which will reimburse you for the costs of bringing yourself and a companion home to New Zealand (up to certain limits).  Please note that this benefit is not available on all income protection policies.
 
Future proofing the value of your benefits
To ensure your income cover can continue to deliver the same real value to you as when you first purchased it, your income cover will automatically increase by inflation each year, even when you are receiving monthly claim benefits. These increases apply irrespective of any changes to your health after your income cover starts.

With some insurers you have an option to set a minimum inflation rate of 5% so even when the inflation rate falls below this level your income cover will still increase by 5%.
Of course, if your income cover does increase by inflation, so will your premiums. You can choose to decline any increase in any given year without losing the automatic increase in following years, so you really have the best of both worlds – automatic rights to increase with no obligation to do so.

 
Turning claims promises into reality
Insurance companies are regaining public confidence by promising to pay out on “grey area” claims. Iconic Financial partners with insurance companies who manage claims fairly and ethically, irrespective of what the law might allow as an insurer.
 
Help when it’s really needed
A premium holiday is available to you to provide financial relief during difficult times without losing your valuable cover.
In the tragic event that you lose a spouse or child, are made redundant or bankrupt or are forced to leave work to care for a relative who has become dependent on you due to ill health, your Insurance Plan provides up to six months of free income cover, while you rearrange your financial affairs.
Alternatively your premiums and cover may be suspended for up to twelve months if you need temporary financial relief due to overseas travel, parental leave, extended periods of leave without pay or even if you decide to embark on some additional full-time study. At the end of the suspension period you can restart your income cover without being reassessed.  Please note that this benefit is not available on all income protection policies.

 
Optional dependents benefit (available through some insurers only)
You have the option to purchase the dependent caregiver benefit which will provide you with a proportion of the monthly benefit should you need to give up work to provide full-time care for a relative who can no longer take care of themselves as a result of a total disability (up to certain limits).
 
Optional KiwiSaver savings contribution while on claim (available through some insurers only)
You have the option to purchase the retirement protection benefit and to select either a 3% or 4%
contribution rate. In the event of a disability Partners Life will contribute the selected percentage of the monthly income benefit directly to your KiwiSaver scheme provider. This contribution is in addition to your monthly benefit.

 
Your choice of waiting periods, cover terms and payment terms
Iconic Financial will seek out the income cover that provides you with the flexibility to structure your plan to most closely suit your needs. You have a choice of waiting period (four, eight, thirteen or twenty-six weeks); cover term (to ages 65 or 70); and payment term (two or five years or to the end of the cover term). Your Iconic Financial adviser will assist you to understand the implications of these options to enable you to make the best choice for your personal circumstances.
 
Worldwide cover
Your income cover is valid wherever you may be in the world.
 
No obligation Consultation at Our Expense
If you want to find out more about income protection insurance see us today. We offer a no obligation meeting at our expense.  It wont cost you anything to find out what benefits you will gain by being insured.  Contact us today and give yourself peace of mind that you've got it covered.

 

 

Trauma Insurance

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Trauma cover provides a lump sum payment should you suffer one of the covered conditions of the insurance. Covered conditions are by nature serious and potentially life threatening and, as a result, can have a significant financial impact. Trauma cover is designed to help alleviate financial worries. The lump sum can help reduce debt, purchase specialised equipment, pay for home modifications, provide additional care, and create an investment fund to generate ongoing income or enable business ownership to be restructured, amongst other things. The purpose of the funds is entirely yours to decide.

 

Early payment of life cover benefit or a benefit on its own

You have the choice to select accelerated trauma cover which means in the event of a claim all or part of your trauma cover benefit is paid out. Alternatively you can select a stand-alone benefit which pays a lump sum which does not reduce any other benefit you might be covered for. The accelerated benefit option is less expensive than the stand-alone benefit option.

Buying back claimed benefits
You can purchase an additional trauma cover buy back option which allows you to buy back any trauma cover which is reduced by an accelerated trauma claim, provided the life assured survives twelve months following the claim.  You can also purchase an additional trauma cover buy-back option which allows you to repurchase the trauma cover that has been claimed, provided that the life assured survives twelve months following the claim.
 
Diagnosis assistance
To meet the claim criteria for a number of the covered conditions you will have first suffered a significant level of impairment. There can be a significant period of time between the first diagnosis of the condition and the full payment criteria being reached for you.  Many insurance companies recognise that there can still be a degree of financial strain when a serious diagnosis is made. To assist with this financial strain for the indicated conditions, they will pay a portion of the trauma cover benefit early upon diagnosis, with the balance being paid if and when the full payment criteria is reached or another trauma is suffered.  The diagnosis benefit is 25% of the trauma cover up to a specified maximum (in some cases $75,000).
 
Partial payments
With some insurers you are also covered for a number of chronic conditions under the trauma cover which can be life changing but are not usually immediately life threatening at diagnosis. For these chronic conditions listed below you will receive a partial payment of 25% of the trauma cover up to a maximum of $75,000. Any partial payment will reduce the remaining trauma cover by the amount that has been paid to you.  Typical conditions covered are:
  • Severe Osteoporosis
  • Severe Rheumatoid Arthritis
  • Adult Onset Insulin Dependent Diabetes
  • Lupus
Cover for your children
Under the Trauma cover for yourself some insurers will provide you with automatic trauma cover for your children between the ages of two and eighteen of $50,000 for each child which is payable in addition to your trauma cover.
 
Typical covered conditions
 
Alzheimer’s Disease or Dementia (Diagnosis payment) Angioplasty (Diagnosis payment) Aortic Surgery
Aplastic Anaemia Benign Brain Tumour Blindness (Diagnosis payment)
Cancer (Diagnosis payment) Cardiomyopathy (Diagnosis payment) Creutzfeldt-Jakob Disease (CJD)
Chronic Kidney Failure (Diagnosis payment) Chronic Lung Failure (Diagnosis payment) Coma
Coronary Artery Surgery Deafness (Diagnosis Payment) Encephalitis
Heart Attack Heart Valve Replacement (Diagnosis payment) HIV – medically or occupationally acquired
Intensive Care Loss of Independent Existence Loss of Limb and Sight
Loss of Limbs (Diagnosis payment) Loss of Speech (Diagnosis payment) Major Burns
Major Head Trauma Meningitis Motor Neurone Disease
Multiple Sclerosis (Diagnosis payment) Muscular Dystrophy Organ Transplant
Out of Hospital Cardiac Arrest Paralysis and Plegias Parkinson’s Disease
Peripheral Neuropathy Pneumonectomy Primary Pulmonary Hypertension
Severe Inflammatory Bowel Disease Stroke Systemic Sclerosis
Terminal Illness Total and Permanent Disability  
 
Bringing you home (available through some insurers only)
If you have been working overseas for more than three months when you suffer a trauma and you wish to return home, your trauma cover includes a return to home benefit which will reimburse you for the costs of bringing yourself and a companion home to New Zealand (up to certain limits).
 
Treatment away from home (available through some insurers only)
If your recommended treatment has to happen outside of your home town, then your trauma cover includes a support person accommodation and transport costs benefit which will reimburse you for up to ten days accommodation costs and all transport costs for your support person (up to certain limits).
 
Future proofing the value of your benefits
To ensure your trauma cover can continue to deliver the same real value to you as when you first purchased it, your trauma cover will automatically increase by inflation each year. These increases apply irrespective of any changes to your health after your trauma cover starts.  With some insurers you have an option to set a minimum inflation rate of 5% so even when the inflation rate falls below this level your trauma cover will still increase by 5%.  Of course, if your trauma cover does increase by inflation, so will your premiums. You can choose to decline any increase in any given year without losing the automatic increase in following years, so you really have the best of both worlds – automatic rights to increase with no obligation to do so.
 
Turning claims promises into reality
Insurance companies are regaining public confidence by promising to pay out on “grey area” claims. Iconic Financial partners with insurance companies who manage claims fairly and ethically, irrespective of what the law might allow as an insurer.
 
Help when it’s really needed
A premium holiday is available to you to provide financial relief during difficult times without losing your valuable cover.
In the tragic event that you lose a spouse or child, are made redundant or bankrupt or are forced to leave work to care for a relative who has become dependent on you due to ill health, your Insurance Plan provides up to six months of free income cover, while you rearrange your financial affairs.
Alternatively your premiums and cover may be suspended for up to twelve months if you need temporary financial relief due to overseas travel, parental leave, extended periods of leave without pay or even if you decide to embark on some additional full-time study. At the end of the suspension period you can restart your income cover without being reassessed.  Please note that this benefit is not available on all trauma policies.
 
Expert assistance
If you or your family would like assistance with managing the proceeds of a trauma cover claim, some insurance policies provide a financial and legal advice benefit which reimburses the costs of a financial planner and/or lawyer up to a maximum of around $2,500.
 
Special events increases
Most insurers recognise there are a number of life events which can trigger a need to increase your trauma cover. The special events increase benefit allows your trauma cover to be increased (within limits) without further health assessment for the following life events:
• Marriage or civil union.
• Divorce or legal separation.
• Becoming full-time carer for a dependent relative.
• Birth or adoption of a child.
• Taking out or increasing a mortgage.
• A dependent child starting full-time tertiary study.
Iconic Financial will help you understand and implement these life-event increases as they occur.

 
Optional increase benefit
In addition to the automatic inflation adjustment and increase options under the special events increase benefit, you can also purchase a future insurability option which allows further increases to your trauma cover each year without further assessment (up to certain limits).
 
Worldwide cover
Your trauma cover is valid wherever you may be in the world.
 
No Obligation Consultation at Our Expense
If you want to find out more about trauma insurance see us today. We offer a no obligation meeting at our expense.  It wont cost you anything to find out what benefits you will gain by being insured.  Contact us today and give yourself peace of mind that you've got it covered.


 
Mortgage Repayment Insurance

 

propertyinvestment.jpgMortgage repayment cover provides a financial safety net should you suffer a total or partial disability which causes a reduction in your ability to meet your mortgage repayments and which lasts longer than the chosen waiting period. The monthly benefit is designed to cover mortgage repayments on your behalf during treatment and recovery.
 
Once the mortgage has been repaid
You can usually keep the agreed mortgage repayment cover in place even once the mortgage has been completely repaid as long as you keep paying the premiums. Certain offsets that apply to income cover will also apply to your mortgage repayment cover in these circumstances.
 
Specific injury (available through some insurers only)
If you suffer from one of the specific injuries listed in the Mortgage Repayment Cover Protection Benefit Sheet (contact us direct for this information), you will be paid the monthly benefit for a specified minimum period, irrespective of whether you return to work within that time frame. If your disability lasts longer than the specified minimum period the normal monthly benefit will continue to be payable.
 
Critical illness (available through some insurers only)
If you suffer from one of the critical illnesses listed in the Mortgage Repayment Cover Protection Benefit Sheet (contact us direct for this information), you will be paid the monthly benefit for a minimum period of six months irrespective of whether you return to work within that time frame. If your disability lasts longer than six months the normal monthly benefit will continue to be payable.
 
Waiver of waiting period
If you suffer a recurrence of a previous disability or a new disability within twelve months of ending a claim under the mortgage repayment cover, the chosen waiting period will usually be waived for the second disability. This benefit is to reflect the fact that you will have most likely exhausted your available sick leave and annual leave entitlements during the previous waiting period.
 
Retraining and rehabilitation
If you are receiving a claim under the mortgage repayment cover, an insurance company may pay up to twenty four times the monthly benefit to reimburse costs associated with retraining and/or rehabilitation programs that might assist you to return to work.
 
Return to work reward
If you are receiving a total disability benefit and manage to return to work on a part-time basis as part of your recovery, some insurers will boost your partial disability payments with bonuses once you have been back to work part-time for three months and then again after six months.
 
Emergency transport costs
Your mortgage repayment cover will often reimburse you for the costs of any emergency transport you require as a result of your disability (up to certain limits).
 
Special equipment or home modifications
If you need to purchase specialised equipment, prosthetic devices or make alterations to your home or vehicle as a result of a disability, your mortgage repayment cover will often reimburse those costs (up to certain limits).
 
What if the disability is total and permanent?
If you are claiming a total disability benefit and it becomes clear that you will never be able to return to work again, then your mortgage repayment cover will pay you a lump sum of twenty four times the monthly benefit and your regular monthly benefit will also continue.
 
Bringing you home
If you have been working overseas for more than three months when you suffer a disability and you wish to return home, some mortgage repayment policies include a return to home benefit which will reimburse you for the costs of bringing yourself and a companion home to New Zealand (up to certain limits).
 
Future proofing the value of your benefits
To ensure your mortgage repayment cover can continue to deliver the same real value to you as when you first purchased it, your mortgage repayment cover will automatically increase by inflation each year, even when you are receiving monthly claim benefits. These increases apply irrespective of any changes to your health after your mortgage repayment cover starts.
With some insurers you also have an option to set a minimum inflation rate of 5% so even when the inflation rate falls below this level your mortgage repayment cover will still increase by 5%.
Of course, if your mortgage repayment cover does increase by inflation, so will your premiums. You can choose to decline any increase in any given year without losing the automatic increase in following years, so you really have the best of both worlds – automatic rights to increase with no obligation to do so.

 
Turning claims promises into reality
Insurance companies are regaining public confidence by promising to pay out on “grey area” claims. Iconic Financial partners with insurance companies who manage claims fairly and ethically, irrespective of what the law might allow as an insurer.
 
Help when it’s really needed
A premium holiday is available to you to provide financial relief during difficult times without losing your valuable cover.
In the tragic event that you lose a spouse or child, are made redundant or bankrupt or are forced to leave work to care for a relative who has become dependent on you due to ill health, your Partners Protection Plan provides up to six months of free mortgage repayment cover while you rearrange your financial affairs.
Alternatively your premiums and cover may be suspended for up to twelve months if you need temporary financial relief due to overseas travel, parental leave, extended periods of leave without pay or even if you decide to embark on some additional full-time study. At the end of the suspension period you can restart your mortgage repayment cover without being reassessed.  Please note that this is not available on all mortgage repayment policies.

 
Increasing benefits to match your increasing mortgage
Our insurance partners recognise that your mortgage commitments can change over time and each time your mortgage increases, there is a financial need to increase your mortgage repayment cover to keep pace. The special events increase benefit allows your mortgage repayment cover to be increased (up to certain limits) without further health assessment, whenever your mortgage increases.  Please note that this is not available on all mortgage repayment policies.
 
Optional redundancy benefit
You have the option to purchase the redundancy benefit, which will provide for up to six months of mortgage repayment being paid on your behalf in the event that you are made involuntarily redundant by your employer (up to certain limits).
 
Your choice of waiting periods and payment terms
We will select a mortgage repayment cover that provides you with the flexibility to structure your plan to most closely suit your needs. You have a choice of waiting period (four, eight, or thirteen weeks) and payment term (two or five years or to age 65). We can assist you to understand the implications of these options to enable you to make the best choice for your personal circumstances.
 
Worldwide cover
Your mortgage repayment cover is valid wherever you may be in the world.
 
No Obligation Consultation at Our Expense
If you want to find out more about mortgage repayment insurance see us today. We offer a no obligation meeting at our expense.  It wont cost you anything to find out what benefits you will gain by being insured.  Contact us today and give yourself peace of mind that you've got it covered.

 
Total and Permanent Disability Insurance (TPD)

Total and Permanent Disability cover provides a lump sum payment should you completely lose your ability to ever work again (or carry on your normal tasks, if you are not employed), as a result of illness or injury. TPD cover is designed to help alleviate the significant financial impact that losing an income forever would likely cause. The lump sum can help reduce debt, purchase specialised equipment, pay for home modifications, provide additional care, and create an investment fund to generate ongoing income, provide a ump sum to invest to fund your retirement gap, or to enable business ownership to be restructured, amongst other things.  The purpose of the funds is entirely yours to decide.
 
Early payment of life cover benefit or a benefit on its own
You have the choice to select accelerated TPD cover, which means in the event of a claim all or part of your life cover benefit is paid out. Alternatively you can select a stand-alone benefit which pays a lump sum which does not reduce any other benefit you might be covered for. The accelerated benefit option is less expensive than the stand-alone benefit option.
 
Buying back claimed benefits
You can purchase an additional life cover buy back option which allows you to buy back any life cover which is reduced by an accelerated TPD claim, provided the life assured survives 12 months following the claim.
 
Bringing you home
If you have been working overseas for more than three months when you suffer a TPD and you wish to return home, your TPD cover often includes a return to home benefit which will reimburse you for the costs of bringing yourself and a companion home to New Zealand (up to certain limits).
 
Treatment away from home
If your recommended treatment has to happen outside of your home town, then your TPD cover includes a support person accommodation and transport costs benefit which will reimburse you for up to ten days accommodation costs and all transport costs for your support person (up to certain limits).
 
Future proofing the value of your benefits
To ensure your TPD cover can continue to deliver the same real value to you as when you first purchased it, your TPD cover will automatically increase by inflation each year. These increases apply irrespective of any changes to your health after your TPD cover starts.  With some insurers you also have an option to set a minimum inflation rate of 5% so even when the inflation rate falls below this level your TPD cover will still increase by 5%.  Of course, if your TPD cover does increase by inflation, so will your premiums. You can choose to decline any increase in any given year without losing the automatic increase in following years, so you really have the best of both worlds – automatic rights to increase with no obligation to do so.
 
Turning claims promises into reality
Insurance companies are regaining public confidence by promising to pay out on “grey area” claims. Iconic Financial partners with insurance companies who manage claims fairly and ethically, irrespective of what the law might allow as an insurer.
 
Help when it’s really needed
A premium holiday is available to you to provide financial relief during difficult times without losing your valuable cover.
In the tragic event that you lose a spouse or child, are made redundant or bankrupt or are forced to leave work to care for a relative who has become dependent on you due to ill health, your Partners Protection Plan provides up to six months of free TPD cover, while you rearrange your financial affairs.
Alternatively your premiums and cover may be suspended for up to twelve months if you need temporary financial relief due to overseas travel, parental leave, extended periods of leave without pay or even if you decide to embark on some additional full-time study. At the end of the suspension period you can restart your TPD cover without being reassessed.  Please note that this is not available on all TPD policies.

 
Expert assistance
If you or your family would like assistance with managing the proceeds of a TPD cover claim, your TPD cover often provides a financial and legal advice benefit, which reimburses the costs of a financial planner and/or lawyer up to a maximum of around $2,500.
 
Special events increases
Most insurers recognise there are a number of life events which can trigger a need to increase your TPD cover. The special events increase benefit allows your life cover to be increased (within limits) without further health assessment for the following life events:
• Marriage or civil union.
• Divorce or legal separation.
• Becoming full-time carer for a dependent relative.
• Birth or adoption of a child.
• Taking out or increasing a mortgage.
• A dependent child starting full-time tertiary study.
Iconic Financial will help you understand and implement these life-event increases as they occur.

 
Optional increase benefit
In addition to the automatic inflation adjustment and increase options under the special events increase benefit, you can also purchase a future insurability option which allows further increases to your TPD cover each year without further assessment (up to certain limits).
 
Worldwide cover
Your total and permanent disability cover is valid wherever you may be in the world.
 
No Obligation Consultation at Our Expense
If you want to find out more about TPD insurance see us today. We offer a no obligation meeting at our expense.  It wont cost you anything to find out what benefits you will gain by being insured.  Contact us today and give yourself peace of mind that you've got it covered.


 
Private Medical Insurance

80casestudy.jpgPrivate medical cover provides the funding to enable you to have private hospital treatment whenever you require more immediate access or a broader range of treatment options than are available to you through the public health system.  At Iconic Financial we can assist you with medial insurance cover with most of the providers in New Zealand.  In our opinion two companies are outstanding in this field.  Talk to us about your options.  Below we outline the typical benefits offered under these policies:
 
Surgical treatment
If you require a surgical procedure (including lithotripsy), whether in hospital or day stay, and you choose to have the procedure completed privately, your private medical cover will pay the costs (including prosthetics) up to a maximum of $300,000 per year for each life assured (certain exclusions apply).
If your required surgery is as a result of a heart attack, stroke, coronary artery disease or critical cancer then the excess will not be deducted from this benefit.

 
Non-surgical hospital treatment
If you require non-surgical treatment in a hospital and you choose to be admitted to a private hospital your private medical cover will pay the costs up to a maximum of $300,000 per year for each life assured (certain exclusions apply).
If your admission to hospital is as a result of a heart attack, stroke or critical cancer then the excess will not be deducted from this benefit.

 
Life threatening illness treatment
If you suffer a potentially life threatening illness such as cancer, which requires drug treatment to arrest or cure but doesn’t necessarily require hospitalisation, you are still covered. The additional costs of these drugs over and above any government (or quasi-government) subsidies are included in the non-surgical cover detailed above. We want to help ensure you have access to the most effective drug treatments available, irrespective of whether those drugs attract a government subsidy or not (certain exclusions apply).
 
Before and after hospitalisation costs
If you have private surgery or treatment in a private hospital all of the related specialist consultations and tests in the six months before and after the hospitalisation are covered. Post-hospitalisation costs including prescriptions and sundries, physiotherapy, hyperbaric oxygen therapy or rehabilitation costs, which occur in the six months following your discharge, are also covered. These costs are included in the surgical and non-surgical covers detailed above (certain limits and exclusions apply).
 
Major diagnostic costs
If you require any of the expensive diagnostic tests listed, whether they lead to the need for further treatment or not, your private medical cover will pay the costs of these diagnostic tests up to a maximum of $200,000 per year for each life assured (certain exclusions apply).
  • MRI Scans
  • CT Scans
  • Arthroscopy
  • Laparoscopy
  • Dilation and Curettage
  • Cytoscopy
  • Myelogram
  • Hysteroscopy
  • Angiogram
  • Colonoscopy
  • Gastroscopy
 
When you are admitted to a public hospital
If you are admitted to a public hospital for longer than three nights your private medical cover will reimburse you $300 per night for each additional night you stay up to a maximum of 10 nights per admission for each life assured (certain exclusions apply). No excess will be deducted from this public hospital cash grant.
 
Emergency transport costs
Your private medical cover will reimburse you for the costs of any emergency transport you require (certain exclusions apply). No excess will be deducted from this transfer costs benefit.
 
Hospice respite
Your private medical cover includes reimbursement for hospice costs of $300 per day for up to a maximum of 10 days for each admission (certain exclusions and limits apply). No excess will be deducted from this hospice benefit.
 
Death benefits
A lump sum payment of $3,500 per life assured (or $2,000 for children under the age of ten), is payable to assist with funeral expenses should the person insured die (certain exclusions apply). No excess will be deducted from this funeral benefit.  In addition, if an adult life assured dies before the age of 70, then the private medical cover premiums you pay for all remaining lives assured will be refunded for the following three years (certain exclusions apply). If the person insured dies whilst in hospital as a result of medical misadventure a death benefit of $30,000 is payable (certain exclusions and limits apply). No excess will be deducted from this medical misadventure benefit.
 
Special assistance at home
If you require full time care at home following a period of hospitalisation then your private medical cover will reimburse you $300 per day up to a maximum of 10 days following each admission. No excess will be deducted from this home nursing care benefit (certain exclusions apply).
 
Bringing you home
If you have been working overseas for more than three months when you suffer a health condition which requires treatment and you wish to return home, your private medical cover includes a return to home benefit. This benefit will reimburse you for the costs of bringing yourself and a companion home to New Zealand (certain exclusions and limits apply). No excess will be deducted from this transfer costs benefit.
 
Treatment away from home outside of New Zealand
If you require treatment that is unavailable in New Zealand then your private medical cover will pay you a grant of up to a maximum of $30,000 to assist with the transport, accommodation and treatment costs that you incur (certain exclusions and limits apply).  If your required treatment is normally available in New Zealand but is unable to be accessed within the six months immediately following recommendation, then your private medical cover will reimburse you the equivalent New Zealand costs for the same treatment, if you decide to have that treatment overseas. Payment is made as if the treatment had been undertaken here, up to the maximums outlined in the surgical and non-surgical benefits detailed above (certain exclusions apply).
 
Medical tourism option
If you require treatment that is available in New Zealand within six months of recommendation, but you would prefer to have the treatment overseas, you are able to do so. The insurance company will reimburse you for associated costs including treatment, transport and accommodation for yourself and one support person. The total amount payable is limited to a maximum of 75% of the usual customary and reasonable costs of the treatment, had it been undertaken in New Zealand (certain exclusions apply).
 
Treatment away from home inside New Zealand
If your recommended treatment has to happen outside of your home town, then your private medical cover includes a support person accommodation and transport costs benefit which will reimburse you for up to ten days accommodation costs and all transport costs for your support person (certain exclusions and limits apply).
 
Automatic cover for babies
All children born during the term of your private medical cover are automatically covered free of charge for the three months immediately following their birth to give you time to officially add them as lives assured if you choose.  You should notify us within this time so we can add your children to your private medical cover within three months from birth without medical underwriting requirements.
 
Children added to your policy
Once children are added as lives assured, they attract the children’s premium rate until they turn 21. You can keep them covered under your policy for as long as you wish, their premiums will simply change to the applicable adult rate once they reach age 21.
If they wish to convert from your policy to their own policy at any stage, the insurance company guarantees to apply terms and conditions to their new policy that are no less favourable than the terms and conditions that apply to your policy at the date they convert.

 
Your choice of excess
Private medical cover can provide you with the flexibility to structure your plan to suit your needs. You have a choice of excess on the base plan ($0, $250, $500, $1,000, $2,000, $5,000 or $10,000) which can vary for each life assured. Your adviser will assist you to understand the implications of these options to enable you to make the best choice for your personal circumstances.
 
Optional non-hospital related specialists and tests cover
You have the option to purchase the specialists and tests benefit which will provide reimbursement for the costs of specialist consultations or diagnostic tests that are not otherwise covered by the base plan. Private medical cover can include registered alternative health practitioners as specialists under the specialists and tests benefit, provided you have been referred by a doctor for treatment of a diagnosed medical condition. An annual maximum of $4,000 each for specialist consultations and diagnostic tests applies to each life assured. There is also a standard $250 excess that applies each year for each life assured (certain exclusions apply).
 
Turning claims promises into reality
Insurance companies are regaining public confidence by promising to pay out on “grey area” claims. Iconic Financial partners with insurance companies who manage claims fairly and ethically, irrespective of what the law might allow as an insurer.
 
Help when it’s really needed (available through one insurer only)
A premium holiday is available to you to provide financial relief during difficult times without losing your valuable cover.  In the tragic event that you lose a spouse or child, are made redundant or bankrupt or are forced to leave work to care for a relative who has become dependent on you due to ill health, your Partners Protection Plan provides up to six months of free private medical cover, while you rearrange your financial affairs.
Alternatively your premiums and cover may be suspended for up to twelve months if you need temporary financial relief due to overseas travel, parental leave, extended periods of leave without pay or even if you decide to embark on some additional full time study. At the end of the suspension period you can restart your private medical cover without being reassessed.

 
Worldwide cover – Australasian treatment
Your private medical cover is valid for medical conditions, which might arise wherever you may be in the world, as long as the treatment for those conditions takes place in Australia or New Zealand. If the treatment takes place in Australia, you are covered for the equivalent New Zealand costs as if the same treatment had it been undertaken in NZ.
 
Please Note: These benefits are the typical benefits of the two main private medical insurers Iconic Financial recommends.  These benefits are not typical of most private medical insurance providers. A personalised assessment will be necessary to determine the most appropriate medical cover for your needs.

 
No Obligation Consultation at Our Expense
If you want to find out more about private medical insurance see us today. We offer a no obligation meeting at our expense.  It wont cost you anything to find out what benefits you will gain by being insured.  Contact us today and give yourself peace of mind that you've got it covered.

 
Fire and General Insurance
 
homeloan.jpgFire and general insurance is defined as non-life insurance policies and cover items like cars, property, and home contents insurance.  Property insurance or ‘home and contents’ provides protection against most risks to property, such as fire, theft, and some weather damage.  It is critical to obtain home and contents insurance to protect yourself from financial exposure if you own a home, and in most cases it’s compulsory when you take out a mortgage.  There are different types of insurance, such as replacement cost insurance, which pays for the cost of replacing your property regardless of depreciation or appreciation, or actual cash value that pays out replacement cost minus depreciation in the event of a claim.  Iconic financial is able to recommend the best type of protection for you and your family home, or investment property and advise of a reputable supplier.