Products

Life Insurance can provide some peace of mind, so you know that if the worst happens a lump sum of money will become available to your family, your business or to pay off debt.

We suggest that if you have a family, other dependents or debt, then life insurance is enormously important:

One way to think about the need for life insurance is to ask yourself this: if you were to die early, what would be the financial impact on those you leave behind?

Life Insurance can also be an essential part of your business planning, enabling:

Your home is one of the biggest purchase most will make, and making sure that you can pay the mortgage on that purchase is one of our priorities.

A mortgage protection policy will ensure that this commitment is met should you suffer an injury or illness, and increases the likelihood of you keeping your home.

Mortgage protection is a form of income protection that is generally based on your monthly mortgage payments, but can also be calculated on a percentage of your gross annual income. 

Mortgage Protection policies look at offsets, such as ACC, quite differently than Income cover. Chat to us further about what this would mean to you at claim time.

Handing someone a cheque for a lump sum when they have just been diagnosed with a major trauma can be life changing.

We make sure that by taking out trauma cover you will be protected from the financial impact that one of those major traumas can have on your life.

Most of us know someone who has been affected by cancer, heart disease or stroke, so protecting you against the financial implications of these is our priority. Trauma insurance can cover you for up to 47 conditions.

Although the statistics can be overwhelming in this area, we think it is important to be aware of the risks.

This is one area which is often overlooked & we talk a lot with our clients about choosing an insurance plan that will last the test of time so it can be there when they need it both short & long term. Levelling premiums mean that the premium is a fixed price, that is initially higher, but doesn’t increase annually and remains the same until the policy ends.

This option can make a significant difference to ongoing affordability if it is taken up at the right time for you. When is the right time?

The best way to find out is to chat with us & look at the various options.

Benefits of Level Premiums:

Group Health Insurance is considered one of the most desirable employee benefits offered by employers. Individuals with private Health Insurance are more likely to be treated and return to work up to three months faster than those without access to private treatment. For the employer, the benefits may also include a reduction in sick leave or staff being away for longer than necessary because they cannot get timely treatment.

• Pre-existing conditions for all groups subsidising five or more employees
• Average age rates for all groups, no matter their size
• Dependent children can be added to age 25 and be covered for pre-existing conditions
• A waiver of all stand-down periods on GP, Dental and Optical and Specialist options
• Employees are able to add options and family at their own cost.
• Non-Pharmac drug treatment.Yes – Can be subsidised by employer or added at employees cost. This can be from $ 50,000 up to $ 300,000 per member depending on levels of cover choosen. 

We often tell our clients that health insurance is about giving you options. (Health Comes First) When can I have a procedure done? Who is going to do the procedure? Where will it be done?

Medical insurance alleviates the concerns that come with medical issues. You can have tests and treatments performed in a timely manner and by the best in the field. Medical expenses can be costly, and the time off work can cost you if you are not able to return quickly. Waiting lists can be long, and treatments expensive.

There are many options in the market place, and the team at BHI spend a lot of time going over the various companies’ policies to make sure we offer you the very best.

Health insurance pays all or some of your medical bills if you are treated privately. It allows you to choose the level of care you receive, and how and when it is provided.

At BHI Finance we can show you how your ability to earn an income is your most important asset. Protecting this asset affordably and correctly is extremely important.

Relying on a benefit or ACC is not adequate if you wish to maintain the lifestyle that you currently lead as most people suffer from illness related conditions which are not often covered under the government’s benefits. Income protection gives you the confidence that your lifestyle will continue should you become unwell.

Income protection cover will pay you a monthly amount, just like a salary, if you are unable to work. There are many ways to structure this type of insurance, and we will work with you to find the best solution.

We know that your income is vital to allow you to live your life today – and make plans for tomorrow.

There are many reasons that a person would take up TPD insurance: to reduce debt, to replace income as a result of total and permanent disablement.

One option is ‘Own Occupation TPD’, which means that should you be unable to return to your usual occupation, you would be paid a lump sum. An example of this is a plumber who is unable to return to work, but is able to work in a plumbing office-based job.

The second option would be ‘any occupation TPD’. In this case, you can claim your lump sum if you are unable to return to any job to which you are reasonably suited by training and/or experience. For example, if you are a plumber and can no longer work as one, but you can work in a plumbing company office, you would not be paid. 

Shareholder protection

Going into business with somebody is a big decision. How will this work? How will the roles be divided? How will we grow the business together? How will we secure any bank lending when required? Certainly, all these questions are imperative to your success.

We will go over the following with you:

Without an insurance plan set up to protect you as a shareholder, you could find yourself in business with the family of the deceased shareholder simply because you could not raise the funds to buy them out. In addition, the bank could ‘call up’ some or all of the debt once one of the shareholders is no longer involved in the business.

Our role as your adviser is to make sure that your shareholder agreement is in place to protect all the partners and their families, much like a personal will. We will then back this up with the insurance required to provide much-needed funds to keep the business going or pay out shareholders.

Key Person

All businesses should consider using insurance to compensate the business for any financial loss or cost suffered when a key person becomes ill or injured.

Most businesses take out insurance cover for assets that do not make them profits – their plant, equipment, vehicles and buildings.

But it is the human asset that can turn the capital and assets into a profit, through their initiative, drive, skill, specialist knowledge and ingenuity. A key person is someone whose continued association with a business provides it with a significant and direct economic gain. 

Economic gain means more than just profits. It can also, amongst other things, include cost savings, capital injections, good will, access to credit and access to customers. A common example of a key person is an employee who is directly responsible for bringing in sales, or who holds key technical expertise on which a business relies.

The most important thing to look at when deciding who is a key person is what impact (financial and other) their loss would have on that business, how quickly it would be felt, and for how long. Perhaps the most appropriate way to look at this is to analyse each potential key person and ask:

These simple questions help you establish who you need to analyse, and whether you are trying to replace revenue so the business can continue to trade, or you are trying to establish what it would take to close the business down, repay creditors, and minimise the financial impact on the business owner(s).

Rural Key Person

This cover can contribute towards the cost of replacing you or one of your key employees if unable to work through sickness or injury.

There are plenty of options about how this can be structure depending on your individual situation & the reason why advice in this area is recommended.