Clients often come to us with a common issue concerning the fact that their premiums are rising with each passing year. In continuation of this fact we have seen clients requesting to cancel their covers because it has become unaffordable.
The real issue with the latter situation is that we have a situation where we see clients lose out on having covers when they have a maximum possibility to make claim -at their old age. This posed a real issue as clients were left with no insurance covers or were expected to pay a high premium which many times is unaffordable.
We advised clients to consider a level premium option as opposed to a rate to age / stepped premium mode that was increasing with each passing year. The outcome of this approach was that premium increases when making the switch from rate to age to level but thereafter premiums will remain the same means no increase in premium.
This approach has the following benefits for clients:
i. Premium is not increasing which helps in better budgeting.
ii. Cumulative premiums paid over a long-term were hugely less than the cumulative premiums that were expected to be paid on the rate to age mode
iii. Clients would have covered during their autumn years as a result of this approach as opposed to canceling them.
Our Insurance Services:
-- Life Insurance & terminal Illness
-- Permanent disability
-- We pay your premium
-- Serious sickness
-- Income protection
-- House & content insurance
-- Medical insurance
-- Guaranteed Money back policy
-- Mortgage protection policy
-- Commercial/Industrial/Business Insurances
A little about us:
Global Financial Services is one of leading mortgage broker agency in Auckland, New Zealand. We are one of the leading insurance brokers agency in Auckland, New Zealand. We recently opened our Henderson branch. We are highly respected, trusted and awarded agency. We have been helping kiwi families to reach their dream for 19+ years.
Scale & Size
We have arranged over $5 billion of mortgages and over $3 billion in personal risk insurance cover since our inception. Every year we cater to over 1,500 customers for their mortgage or insurance needs so that they can meet their financial goals.
The real issue with the latter situation is that we have a situation where we see clients lose out on having covers when they have a maximum possibility to make claim -at their old age. This posed a real issue as clients were left with no insurance covers or were expected to pay a high premium which many times is unaffordable.
We advised clients to consider a level premium option as opposed to a rate to age / stepped premium mode that was increasing with each passing year. The outcome of this approach was that premium increases when making the switch from rate to age to level but thereafter premiums will remain the same means no increase in premium.
This approach has the following benefits for clients:
i. Premium is not increasing which helps in better budgeting.
ii. Cumulative premiums paid over a long-term were hugely less than the cumulative premiums that were expected to be paid on the rate to age mode
iii. Clients would have covered during their autumn years as a result of this approach as opposed to canceling them.
Our Insurance Services:
-- Life Insurance & terminal Illness
-- Permanent disability
-- We pay your premium
-- Serious sickness
-- Income protection
-- House & content insurance
-- Medical insurance
-- Guaranteed Money back policy
-- Mortgage protection policy
-- Commercial/Industrial/Business Insurances
A little about us:
Global Financial Services is one of leading mortgage broker agency in Auckland, New Zealand. We are one of the leading insurance brokers agency in Auckland, New Zealand. We recently opened our Henderson branch. We are highly respected, trusted and awarded agency. We have been helping kiwi families to reach their dream for 19+ years.
Scale & Size
We have arranged over $5 billion of mortgages and over $3 billion in personal risk insurance cover since our inception. Every year we cater to over 1,500 customers for their mortgage or insurance needs so that they can meet their financial goals.
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