- Craig comes to us. He’s listened to our goals, our investment needs and our insurance needs & he’s sold us products that fit best to suit our lifestyle.
- Louis & Barbara Kuriger
- Craig has really looked after us, He’s gone and got the best deals. That’s his job.
- Ross & Shelley Clark
- Dealing with a specialist company like Abacus is vital. That relationship thing is absolutely important because you know someone is going to bat for you.
- Steve Day, MD Pace Engineering
- I am truly grateful to Jamie and consider myself extraordinarily fortunate to have received the benefit of his astute advice and assistance.
- - J. F. Pickett
- It has felt very good to know we have Richard and the team at Abacus Group Ltd on our side.
- - Brian and Tracey Downes
- Richard bent over backwards in his endeavours to help us every step of the way through the claim, making the process as simple as possible.
- - John & Carole Lynskey
Myth 1: “I can cope with a little lost income”
TOWER Health and Life claim records show that 48% of income protection claimants are off work for an average of five months. That’s a long time to be without an income especially when there are bills and mortgages to be paid. And then there are the less obvious costs to be considered such as childcare and home and work modifications to aid recovery.
Myth 2: “But I’m young, fit and healthy”
While this may be a commonly held belief, 48% of Income Protection claimants are under 50 years of age. Fidelity Life Insurance paid around $8.3 million in Income Protection claims for the year ending June 2011. That means around half of this amount was paid to people under 50 years of age.
Not only that but 5 out of every 10 males and 7 out of every 10 females aged 25 years are likely to become disabled due to an illness or accident before they turn 65. That means they will have to be off work for more than a month.
These income protection benefits are paid out monthly by insurance companies and reflect the important role they play in providing New Zealanders with serious illnesses or disabilities with a financial safety net while they are out of work. The claim money enables recipients to pay their bills during treatment and the recovery period.
Myth 3: “But ACC will pay if I have an accident”
No, this isn’t necessarily the case as 27% of new income protection claims were for accidents.
Myth 4: “l’m the breadwinner, so only I need income Protection”
Have you seen the cost of childcare lately? Add that along with housekeeping, food preparation, home accountant and school transportation. From that list alone you get an idea how much a spouse really contributes to the household budget. It is estimated a non -working spouse contributes at least the equivalent of a full time job.
Companies such as Soveriegn have a range of Income Protection products to cater for every New Zealander. So no matter what your level of risk, or if you're a new business starting out, there are options available to cover your ability to earn.
Top 10 claims paid on people aged under 50
|M||$768,974||Chronic Bilateral Orchalgia & Prostatitis||45|
|$560,821||Plasmacytoma – Now Multiple Myeloma||34|
|M||$283,544||Farmer – Multiple Sclerosis||42|
|M||$241,436||Chronic Lymphocatic Leukaemia||45|
|M||$223,839||Depression and Anxiety||37|
|M||$191,605||Cancer of Stomach||46|
Source: TOWER Health & Life Claims as at 31 Dec 2006
• 24 years is the age of the youngest claimant
• The top claim payment to date is $953,726
• 13% of IP claims to Our Provider are for depression related illnesses
• 48% of claimants were off work for 5 months on average
• 74% of claimants were male
• Average age for claimant was 49 years
Happy Waitangi Day!
PART TWO OF A SIX-PART SERIES
The provincial hospital in Matanzas where Craig had three emergency surgeries looked good from the outside, but standards, experience and facilities were extremely lacking.
PART THREE OF A SIX-PART SERIES
Richard: “Remember virtually nobody could speak English and we had no Spanish. There was also an underlying culture we didn’t know about until later, that you just had to go along with the system. Being loud and pushy wouldn’t work, we just had to be very patient.