Welcome back to our myth-busting series on insurance! In Part One, we tackled some common misconceptions. Let’s continue dispelling these myths and provide clarity on the true value of insurance with insuranceBASE.
MYTH: “Only Main Income Earners Need Life Insurance”
The notion that only main income earners require insurance oversimplifies the multifaceted dynamics of modern households. The sudden absence of a partner, even if they aren’t the primary earner, creates significant upheavals. For instance, if that partner was the main caregiver for the children, their loss would mean the surviving partner might have to shoulder additional childcare expenses, all while managing their job and handling the home’s financial responsibilities. Additionally, there’s the emotional strain to consider, which might further impact the family’s wellbeing and finances. Having a life insurance plan in place, even for those who aren’t the primary breadwinners, ensures that the surviving partner has a cushion during these challenging transitions, offering both financial support and peace of mind.
MYTH: “Health Insurance is Only for the Sick”
While many see health insurance as a safety net just for when they fall ill, the reality, especially in New Zealand’s current health care climate, is far more encompassing. With our health system facing significant strain, delays for both minor and major medical interventions have become all too common. Securing health insurance provides the flexibility and peace of mind that, should you or your loved ones need care, you won’t be left waiting. It offers options, such as seeking treatment from specialists, considering care outside your immediate locale, or even securing timely procedures for your family. Health insurance isn’t just for the worst days; it’s about ensuring the best care on any given day.
MYTH: “All Insurance Policies are the Same”
While it’s easy to believe that all insurance policies operate the same way, each one is as unique as the individual it’s designed for. The true value isn’t just in being insured, but in understanding precisely what you’re covered for — and perhaps more crucially, what you’re not. With myriad providers catering to different age groups, health profiles, incomes, and circumstances, finding the right match is essential. At insuranceBASE, our commitment isn’t just to provide insurance, but to ensure that you’re paired with the provider that best aligns with your life’s tapestry, offering clarity on policies and peace of mind. Rest assured, when the time comes to claim, you’ll know exactly where you stand.
MYTH: “ACC will cover me”
While ACC in New Zealand provides a reliable safety net for accidents, its cover is specific and has limits. ACC is tailored to assist with accident-related costs, but it doesn’t extend to illnesses or other events outside its mandate. It’s imperative to delve deeper into what ACC truly covers — and what it doesn’t. For utmost peace of mind, complementing ACC with personal insurance ensures you’re prepared for a wider range of eventualities. At insuranceBASE, we emphasise not just the importance of having your own cover, but also the clarity in understanding its breadth and depth.
At insuranceBASE, our mission is more than just debunking myths—it’s about educating and ensuring you’re equipped with the right cover tailored to your unique circumstances. Insurance is a testament to forward thinking, preparing for the future, and safeguarding the well-being of you and your loved ones. If you’re pondering your insurance needs or seeking advice, our doors are open for a conversation. Let’s journey through this together, ensuring peace of mind for the future to come.