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The insurance world keeps changing

The insurance world keeps changing. Many insurance companies are continually making changes to their policies.

Lately, Southern Cross have been amending their health policies. Now, many of the popular covers offered through them have unlimited limits for medical procedures.

No longer does the limit of $60,000 or $100,000 per procedure apply. You can have surgery and it doesn’t matter what it costs. They still have a few sub-limits and other conditions but one barrier to what they offered has now been removed.

Other companies such as Sovereign and Partners Life have also been amending what is covered as well. Amendments include adding new benefits and adding the ability to increase cover due to certain life events.

Recently, Sovereign added the ability to increase your insurance to cover the death of a spouse or a significant salary increase. This is on top of things like having a child, getting a mortgage or even a divorce. If you have any changes like this in your life, you should review the insurance cover you have.

So why are these are important? Amending policies will generally create more favourable terms. You want to make sure these additional features are passed back to you, the existing policy holder. If they are not, you may end up with a policy that is not current and the cover not as good as it should be. Make sure you are with a company that passes back enhancements but does not have the ability to remove benefits in the future.

If you want to know what is best for you, talk with me. I am happy to help in any way I can.

We really do make sure the wording on the policies we sell are up-to-date and offer you the best solution to your insurance needs.

You can contact me at grant@plus4.co.nz

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