Q: “Why do I need an advisor, can’t I just do it on line?”
A: Yes you can go online but unfortunately not all insurance companies or insurance policies are created equal especially with health, life, serious illness and disability insurances. Some companies may call their policies by the same names but may have significantly reduced features and benefits or have a much higher threshold to trigger a claim (often referred to as “the small print”). An advisor will ensure you have the correct insurance policies for your individual circumstances and needs. This is important because you never know the true value of an insurance policy until it’s time to claim.
Q: “What is the difference between Personal Insurance and Business Insurance?”
A: In very simply terms: Personal Insurance is asking the question “If a key member of the family (generally mum or dad) were to die, become seriously ill or unable to work for a period of time what financial risk does that expose the family to. You then pay a monthly amount to an insurance company to remove that risk. Business Insurance is asking the question “If a key member of the business (key stakeholder or key person) were to die, became seriously ill or unable to work for a period of time what financial risk does that expose the business to. You then pay a monthly amount to an insurance company to remove that risk.