Each insurer in the market has various products that have various features and benefits. These are too numerous and complex to list here and are part of the reason engaging a good adviser is important, as they can assist you in making sense of these; what might be best for you and matches your situation. A good adviser will also be able to highlight needs and risks that are specific to your situation that you may not have considered when previously choosing your insurances.
Advisers can access these products across various companies and lay out their differences and benefits next to each other using specific software which and details these differences. There are more than 20,000 differences in the New Zealand Insurance market which can make navigating the products extremely difficult for the general public who may not be used to the terms used and the implications this can have on the product and how it functions.
The purpose of a good insurance adviser is to guide you through the process of making an insurance decision. However, the relationship with an adviser should not end there. As a long term; or lifetime client; your adviser should be there assisting you with changes to your lifestyle that affect your insurance needs; claims; and ensuring you are getting the benefits you are paying for. It is important to note that nobody’s insurance needs are static, they will change and shift throughout your life as your lifestyle changes and therefore your insurance should change with you.
Your adviser is your advocate in the buying process. They will help you purchase the products you require and then assist your claims if and when they occur.
It is important then to engage with a reputable adviser/ brokerage firm to ensure your needs are put first and that you are able to cultivate a long standing relationship that can be relied on when you need it the most.