In today’s world, where stories of unexpected health scares and events constantly remind us of the unpredictable nature of life, having the right insurance is more crucial than ever. However, navigating the realm of insurance can sometimes feel overwhelming, riddled with myths and misconceptions.

At insuranceBASE, our mission is to demystify insurance, providing clarity and guiding you towards making informed choices.

Let us guide you by debunking these common myths starting with Part One of this two part series…

MYTH: “It’s Too Expensive”

When considering insurance, some might feel it stretches their budget. However, the beauty of insurance lies in its adaptability to individual needs. One key strategy to consider is level term insurance. This allows you to lock in a premium at an affordable rate, particularly beneficial when you’re young and healthy, ensuring you avoid costly premiums in your later years. With an array of plans thoughtfully designed, there’s often a solution that aligns seamlessly with what you can afford. Remember, during times of claims, insurance feels invaluable. It’s about moulding your budget to cater to essential needs and ensuring you’re shielded during unforeseen times. Can you really afford to be without it?

 MYTH: “I’m Too Young for Insurance”

While some might consider insurance a pursuit for the mature, the truth is that youth brings its own advantages in the insurance world. Starting your insurance journey earlier not only means taking advantage of more affordable premiums but also gaining access to a wider array of options. By leveraging disposable income before the responsibilities of mortgages, families, and age-related needs kick in, you can strategically set payment plans. This foresight ensures that as time goes on and circumstances change, you remain adequately covered for the future without feeling the financial strain.

MYTH: “I Don’t Need Insurance”

While New Zealand offers certain safety nets, relying solely on government support might leave you caught off guard. The heart-wrenching stories we often see on “Give a Little” pages are a testament to the gaps that can exist when individuals or families aren’t adequately insured. The local health and accident system provides certain support, but they may not always be comprehensive. It’s vital to proactively understand the cover you have, ensuring that you, your business, and, most importantly, your family, have a solid safety net to fall back on during life’s unpredictable moments.

MYTH: “Insurance Companies Always Deny Claims”

While there’s a common notion that insurance companies may attempt to sidestep payouts, our experience at insuranceBASE differs. Many of the  insurers we collaborate with have an claim payout rates of 93%. This not only reflects our commitment to choosing reliable partners but also underlines our advocacy for our clients. We stand by your side, leveraging our expertise and relationships to ensure that you receive the benefits you’re entitled to.

Understanding insurance is the first step in making informed decisions for your future. While there are numerous misconceptions floating around, seeking clarity can ensure you make choices that best fit your unique needs. Stay tuned for more myth-busting insights in Part 2 and in the meantime, whether you’re re-evaluating your current policies or taking the first steps towards securing your future, we’re here to help. Reach out TODAY for a transparent, insightful conversation and let’s ensure your peace of mind for the future ahead.