What happens if all of your information isn’t written on the application form?
It is really important when somebody else completes an insurance application for you that you check to see the answers are correct and that no information has been left out.
The insurer can avoid the policy and decline to consider the claim if all the information wasn’t written on the application form.
Even when your broker writes the answers on the application on your behalf, you are still expected to read all the answers and sign a statement declaring all the information is correct.
At Thorners we always provide you with a copy of everything completed during a Life Insurance interview to give you time to reconsider your answers.
Call Thorners if you are considering any form of insurance to get the best advice in New Zealand.
Click here to email Thorners or Call Us on (04) 528 8088
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
What happens if you fail to disclose information to an insurer?
Currently the NZ law does not make a distinction between deliberate or innocent non disclosure. Effectively if you just left information out of an insurance application unintentionally or by accident, the insurer can still decline your claim, avoid your policy or make changes to your policy.
Contact Thorners if you need insurance advice and we will work with you to ensure that you understand the proposal form and disclose the relevent information.
Thorners service clients New zealand wide and are an award winning insurance agency offering personalised service.
Click here to email Thorners or Call Us on (04) 528 8088
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
Is it fair that insurers exclude pre-existing medical conditions?
We are often asked why insurers exclude pre-existing conditions.
Unless a policy offers cover for pre-existing conditions, the insurer isn’t obliged to cover any of them.
Companies generally exclude associated treatment for pre-existing conditions as they pose a higher risk and greater likelihood of a claim.
For sound advice on any new Life insurance policy, contact Thorners. We service clients New Zealand wide and have a sound knowledge of the best options available.
Click here to email Thorners or Call Us on (04) 528 8088
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
Insurance Disclosure – a real example
Non disclosure on insurance applications is becoming an increasingly serious issue, both for the insurers and the clients who have subsequent claims declined or deferred in their time of need.
This link will take you to a TV interview giving both sides of an actual story and gives a very clear insight into what needs to be disclosed or discussed with your insurance broker.
http://www.3news.co.nz/Video/CampbellLive/tabid/367/Default.aspx
Our website www.thorner.co.nz contains other blogs in the case study category on non disclosure including a list of health issues often forgotten but needing to be mentioned on an application.
Call the Thorners team if you have any concerns over your insurance policies or if you wish to take out new life cover. We also operate an online life quote and application system – check it out today.
Click here to email Thorners or Call Us on (04) 528 8088
Click here to view our disclosure statement.
Thorners
Winner – Best Trade /Service Business
Upper Hutt Business Excellence Awards 2009
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
Denis Thorner has MDRT Life Qualifying Membership
The Million Dollar Round Table (MDRT), The Premier Association of Financial Professionals, is an international, independent association of more than 31,000 members, or less than 1%, of the worlds life insurance and financial services professionals in more than 84 nations and territories.
MDRT members demonstrate exceptional professional knowledge, strict ethical conduct and outstanding client service. MDRT membership is recognised internationally as the standard of sales excellence in the life insurance and financial services business.
Denis Thorner of Thorner Financial Services Ltd is proud to be a Life Qualifying member of MDRT.
Call Denis if you require any insurance cover. Denis services clients New Zealand wide and welcomes your call.
Click here to email Thorners or Call Us on (04) 528 8088
Click here to view our disclosure statement.
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
Understanding Life Insurance Premiums
While paying for your protection benefits can seem pretty simple – the regular amount required is deducted from your bank on the due date – the reality is that there are a number of different premium structures on offer and if you are not aware of how your particular premium structure works then there may be some surprises for you in the future.
Lets look at the most common premium structure known as YEARLY RENEWABLE TERM or RATE FOR AGE.
This structure often represents the cheapest premium option in the first year.
The structure allows for annual, age related increases in premium so you pay an increasing price each year in conjunction with the life assured’s increasing age.
The structure also allows the company to pass on any increases or decreases in the underlying rates for age on the next policy anniversary following the rate change. this means that the future premium illustrated to you at the time you purchased your policy were estimated based on the underlying rates that were applicable at that time and are not guaranteed. Future premiums may differ from those illustrated according to the company’s actual experience of claims and persistency.
If you select an annually reviewable premium structure, you should be expecting your premiums to increase each year on the policy anniversary date.
Many people also choose the CPI Increase option to retain the true value of their benefits.
Because the premiums are increasing, the premiums payable for the benefits you have elected to CPI index will also increase by the inflation rate. these CPI increases in benefits and premiums will take effect on every policy anniversary.
There are options and we recommend that all clients also consider a Level premium option to provide certainty in the future.
Contact Thorners to discuss the premium options available to you. We offer a New Zealand wide insurance service and applications can also be made online for Life and Health cover from the link on the Thorner website.
Click here to email Thorners or Call Us on (04) 528 8088
Click here to view our disclosure statement
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
Supergold Card Holder Discount Offer Coupon
Thorner General Insurances Ltd offer 10% discount to all Super Gold Card holders New Zealand wide on any Ansvar Insurance Fire and General Policies for personal home, contents and car cover. This discount is over and above the already competative over age 55 age discounts already offered.
Please quote this blog when requesting your insurance quote.
Click here to email Thorners or Call Us on (04) 528 8088
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
