Episode 31 ⋅ 7th December 2021

Is Insurance a Waste of Time and Money?

Income protection insurance, health insurance, trauma insurance…which ones do we need?! In our second insurance episode we dive into all the details. 


Today on the podcast we're back for part two of our insurance series. If you haven't listened to part one, stop right now and go back to our previous episode. It's one not to miss. This podcast will also make a lot more sense after listening to the first one too! 

In this episode, Christine and Cat chat about:

  • Where to start with insurance, and how to figure out which insurances you need
  • Why trauma cover is the most expensive type of insurance 
  • The 101 of trauma cover, income protection and health insurance 
  • Questions to ask yourself to figure out whether you need life insurance
  • Who life insurance is for, and why you would take a policy out
  • Figuring out the sum to insure for with life insurance 
  • Total impermanent disability (TPD) and how this works with income protection insurance
  • How to calculate how much of a lump sum to insure for with TPD insurance
  • How income protection works when mental illness comes in
  • The benefits of insurance advisers, and how fees come into play
  • Whether it's necessary to get a will pre-marriage
…And there's lots more goodness in there, so get listening now. 

Great resources mentioned on the podcast are: 

  1. Financial Services Council (FSC)'s insurance industry statistics 
  2. Reserve Bank of New Zealand's insurance stats 2021

Featuring on today's podcast are your hosts, Cat and Christine.

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