Reaching Your Financial Goals

Every person has certain goals that he/she wants to meet. Some people want to buy a home, while others want to purchase a car. Some pragmatic people want to save up sufficient money so they can live comfortably after retirement. Now, while financial goals may vary from person to person, there is the risk that you may be unable to achieve your goals. A common mistake people make is setting goals that are too ambitious or lofty with regards to their earnings and capacity to save money. In some cases, the circumstances don’t allow them to go through with their plans.

This doesn’t mean that you shouldn’t set financial goals or take each day as it comes. The idea here is to help you reach your financial goals through effective steps that you can follow easily. So, without further ado, here are a few tips for reaching your financial goals:


Plan Wisely

Failure to plan is planning to fail when it comes to your financial goals. You cannot just say that I want to save a million dollars by the age of 50. You have to think of a feasible plan that you can follow to reach that number. There are several factors that you have to consider when coming up with a plan. First and foremost is the amount of money you want to save. The second and equally important factor is the amount of time you have for saving that amount of money. This will enable you to calculate how much money you need to save every month or every year to reach your goal.

Any plan that answers these basic questions will prove effective in the long run. With a viable plan in place, you will be able to track your progress and not have to worry about making changes or cutting corners to save more money. Of course, you need to keep your plan a little flexible, because things can change unexpectedly. That being said, you should try to cover all the bases when coming up with a plan so that you don’t face any major hurdles towards achieving your financial goals.


Be Realistic

You may have considered the amount and time factors, but there is another equally important factor that your plan should include: realism. Your plan has to be realistic in order to be achievable. If you plan to save 25% of your salary every month, it is not a realistic plan. In fact, most people making $45,000 a year can save up to 3% of their annual salary. Plus, you have to consider any debts that you have to manage while saving to reach your financial goals. If your plan isn’t realistic, you will eventually end up abandoning it.


Since that is something you cannot afford, it is better to be realistic. An effective way of doing this is setting short-term goals, such as paying off your credit card in a year. This way, you will get an idea of how much money you can spare in a month and when you have handled your debts, you can start saving more.


Set Small Goals

As mentioned above, it is a good idea to start by setting small goals. Your overall financial goals stay in place but you can break them down into smaller chunks. For instance, if you plan to save money to put down a deposit on your home and you need $50,000 in 4 years, you should instead focus on saving $12,500 this year. Break it down further and you will come down to around $250 a week. When you achieve the smaller goals, you get the confidence and the motivation to continue pursuing your long-term goal. Otherwise, there is a risk that you might give up.


Automate the Process

You should automate the process based on your plan. For instance, if you have to transfer $250 a week to your savings account, ask your bank to do it directly, rather than you having to go to the bank. Not only will this reduce the hassle involved in the process, but keep you accountable. The money will be gone by the date you have decided on, and you will have to make do with the remaining amount in your checking account.


Don’t Use Your Savings

This is perhaps the most difficult part of the process. You might be tempted, on occasion, to use the money you have saved for any upcoming expense. For instance, you may have to pay your son’s tuition fee. However, if you tap into your savings, you are compromising your plan. Therefore, it is important that you find a way to keep your money out of reach. For example, you can set up an account where you can only withdraw the money after a certain period, let’s say 5 years. Otherwise, you might be reaching for your ATM card and making withdrawals every time you need some money.




These are some tips you can follow to reach your financial goals. The key is to be consistent, disciplined, and focused. Once you make the commitment, you don’t have the option to renege. So, be mindful of this before you go ahead with this plan.

Sam Kodi | Financial AdvisorAll you really need to do is make a plan and seek advice from an experienced financial professional and you are good to go. You can make the most of your earnings and support your lifestyle while at the same time building for the future.

If you would like a review of your current Wealth & Investment plan then please contact me on 021 283 5065, or book an appointment on my website

How to Ensure Financial Stability as a Health Professional

The common perception is that a career in the health industry is lucrative and there is greater job security as compared to other fields.

However, what most people don’t realize is that financial stability may be elusive even if you find a job as a health professional.

Keep in mind that this means that even if you have a well-paying job, you might still have some way to being financially secure and stable in the long run. So, why does this happen? Let’s look at the factors that affect the financial stability of health professionals:

Extravagant Spending

Doctors and other medical professionals have to really struggle and suffer during their training period. Naturally, you might feel that once you start earning, you can accumulate assets that will help you live it up.

However, some assets may lose their value over time and with each passing year, your depreciation expense will continue to increase. Of course, you might feel you deserve the extravagance but it isn’t good for financial stability.

Unnecessary Credit & Debit

You probably graduated with a huge student loan debt, so you are accustomed to making monthly payments from time to time. Once you become a professional, you will find that credit is readily available to you and all you have to do is apply.

There is a chance that you fall into the trap and start accumulating more debt over time. As a result, a large part of your income will go towards paying off existing debts, rather than helping you secure your future.


Keeping Up Appearances

Being a doctor means you have to dress and look the part. Unfortunately, that means spending a lot of money on items that necessarily don’t offer any real value and only make a dent in your wallet. Buying a house or a new car could mean accruing more debt, and the cycle continues.

Risky Investments

As a qualified medical professional, you might feel you have the brains to assess investment opportunities, and you do, but this also means that some professionals end up making risky investments that don’t pay off.

The good news is though it’s not all is doom and gloom. Here are some tips you can follow to ensure you can secure your financial future.

1. Set Goals

Failure to plan is planning to fail when it comes to finances. Therefore, it is important that you set clear goals for yourself when it comes to your income. Map out a plan which will enable you to save sufficient amounts of money in the future so you can live comfortably and be financially secure.

2. Protect Your Assets

The worst thing you can do, especially when you are just starting out as a professional, is exposing your money to risk. Whatever assets and income you have, make sure you don’t take any undue risks where you might end up losing everything. Therefore, be shrewd with your plans and stick to what you have, rather than aiming high and losing it all.

3. Efficient Debt Management

As mentioned, there is a good chance that you already have a student loan to deal with. Over time, you will use credit as it becomes available. The key is to spend what you can cover. Here, consult a professional regarding debt management. If you can structure your debts in a way that they don’t take up a huge chunk of your disposable income, debt won’t affect you adversely. Focus on paying off your debts faster and look for opportunities to do so.

4. Invest Wisely

It is a good idea to consult an investment professional and start building your investment portfolio. There are plenty of investment opportunities that offer a decent return with relatively little risk. The key is to rely on the experience and expertise of professionals who have been in the field for some time rather than counting on your judgment.

Assess your options and exercise caution before you take the plunge. Keep in mind that it takes only one bad investment for you to lose everything.

These are some tips that will help you ensure financial stability as a health professional. The best part is that following these steps is easier than you might think.

Sam Kodi | Financial AdvisorAll you really need to do is make a plan and seek advice from an experienced financial professional and you are good to go. You can make the most of your earnings and support your lifestyle while at the same time building for the future.

If you would like a review of your current Wealth & Investment plan then please contact me on 021 283 5065, or book an appointment on my website

Health Insurance

Things to Keep in Mind When Buying Health Insurance

There is no doubt that good health and health insurance should be a priority for everyone. We all know how expensive medical care and treatments can prove to be when you fall sick. This can be incredibly taxing as not only are you not feeling well in the first place, but the added expense will cause a lot of stress.

Thankfully, the government does cover some of the costs of healthcare for the people of New Zealand, but that coverage is limited, especially if you have a major illness. So, what can you do to ensure you don’t have to pay out of pocket for any treatments you undergo?

This is where health insurance comes in. As you know, with a health insurance policy, you can have the provider cover the costs of your medical treatments and care, without you having to bear any extra expense.

You simply have to pay the premium on time and you are good to go. The costs covered under health insurance include, but are not limited to, private surgery, hospital care, and ongoing expenses. Moreover, the best insurance providers offer extended coverage for spouses and children. You can even receive coverage for additional treatments, like dental work, with proper health insurance.

Not All Health Insurance Policies Are EqualHowever, not all health insurance policies are made equal. Though almost every provider claims they offer the widest and best coverage, if you go over the terms and conditions, there are major differences. Plus, it is next to impossible for you to understand the different terms that apply in case of medical emergencies.

All in all, you need to pay significant attention when selecting a health insurance policy. The best option in this regard is consulting an insurance expert.

The expert will provide you the guidance you require and suggest options as per your needs.

This will not only enable you to reduce the hassle associated with the process of selecting health insurance but also ensure that you receive coverage when you need it the most. However, even when working with a professional, you have to keep a few things in mind to make sure you make the right decision.

After all, the insurance expert will advise and guide you based on the information you provide. To make things a tad easier for you, here is a look at the things you need to keep in mind when buying health insurance:

Be Honest at All Times

First and foremost, you need to maintain open and honest communication with the insurance expert. Answer all the questions they ask truthfully, especially when it comes to any medical problems you already have.

Often, policies are rejected based on misinformation on part of the client. Moreover, there is a good chance your claims might be turned down if the insurance provider discovers you hid a medical condition at the time of applying for the policy. Therefore, it is crucial that you are honest with the insurance expert you are working with.

Medical IssuesOften, people abstain from being honest because revealing medical issues at the time of application means paying a higher premium. So, don’t hide information in a bid to save money, because then you run the risk of your policy being voided later on.

Keep in mind that you will not receive the money you have paid to that point back. And this also holds true after you have applied. For instance, there is a chance you are diagnosed with a condition after you have applied for the policy.

In that case, you are responsible for informing the provider about the change in status.

Some people, in a bid to save a few dollars, deliberately hide their medical problems. This could get you in trouble and it is likely you won’t be able to find a decent health insurance policy later on. So, the bottom line is that you need to be truthful and open about your health status, as eventually, the company will find out if you misled them.

Provide Your Accurate Medical History

In addition to being honest, you have to provide an accurate medical history to your insurer. It is part of the procedure of applying for health insurance and something you should not ignore, at any cost.

At the end of the day, all you really need to do is call your doctor and get a copy of your medical history. Don’t be apprehensive as the insurance company is legally bound to keep your medical history private!

Pay Your Premiums on Time

Before you go ahead and sign the dotted line, make sure you can afford to pay the premium every month, on time. Even a single missed payment can result in your policy lapsing. Therefore, it is important that you keep this in mind before you actually apply.

Sam Kodi | Financial AdvisorThese are some things you should consider when buying health insurance. By working with an insurance expert, you can ensure you cover all bases and get the best possible coverage.

If you would like a review of your current Health Insurance plan then please contact me on 021 283 5065, or book an appointment on my website


All You Need to Know About KiwiSaver

Planning your financial future is important. However, it can be tedious to go over your options as not all of them are exciting.

This is where KiwiSaver comes into the picture.

Though KiwiSaver might not be the most highly touted or glamorous option for ensuring financial security, it can prove an effective tool. To make things easier for you, here is an overview of KiwiSaver along with all that you need to know about it.

What is KiwiSaver?

In simplest terms, KiwiSaver is a retirement fund you can sign up for. Sanctioned by the government, KiwiSaver offers a savings scheme you can contribute a percentage of your income to.

KiwiSaver is voluntary scheme, and you have to opt in to make contributions to it. The way KiwiSaver is designed helps you save money from your current income for your retirement.

This is achieved through:

KiwiSaver Can Help First Home Buyers• Receiving contributions from your employer that will help increase the amount of money you save over time.

• Contributing a nominated percentage of your pay to the scheme.

• A tax credit granted by the government on an annual basis to all members.

• Assistance with making a deposit on your first home, provided you are eligible for the scheme.

Despite being initiated by the government, KiwiSaver is managed by private companies. These include a range of financial companies and institutions that bring their experience and expertise to bear to help you secure your financial future.

How it Works

Under KiwiSaver, you can choose from a range of options. They offer different plans, each with its own level of risk and return. You will be charged a certain fee for using KiwiSaver, which will be deducted from your account.

Moreover, you have the freedom to choose the provider you want to invest your money with.

In case you are unable to make a decision, for whatever reason, your money will be invested in the scheme your employer prefers or in any default scheme. However, you do have the option to change providers, as and when you see fit.

What KiwiSaver is Not

It is equally important that you understand what KiwiSaver is not as what it is. The issue is that there are certain myths and misconceptions about KiwiSaver, and it’s crucial that these myths are dispelled.

• KiwiSaver is not a general savings account. The purpose behind the scheme is to help you save for your retirement. This does mean that there are certain conditions under which you can withdraw your money, for instance buying a house or facing a medical emergency.

• The government approves of KiwiSaver but does not guarantee it. The risk is yours to bear. This is because all the decisions regarding which provider to choose and how much money to invest lies with you. The scheme can fail, which is a risk with virtually every financial scheme, and the government will not provide any assistance. This is why it is recommended that you seek professional guidance for choosing a provider.

Why Opt for KiwiSaver

KiwiSaver - Your Nest Egg

It is a matter of time before you reach the age of retirement and will earn no further income. At that time, you have to rely on the money you have saved over the years to maintain your lifestyle and lead a comfortable life.

That being said, you might wonder why you should opt for KiwiSaver when there are other options available. For one, it is the only scheme backed by the government, with other retirement schemes no longer accepting new members.

And that is not the only reason why KiwiSaver is a viable option. Here are some other reasons why you should opt for KiwiSaver:

1. Convenience

You don’t have to put in any extra effort or resources to sign up for KiwiSavers. Once your account is set up, your employer will be responsible for handling your contributions. The money will be deducted from your pay every month. The employer will transfer the funds to the IRD, who will then forward the sum to the scheme you selected.

2. Flexibility

As mentioned above, you have complete freedom to select the options you want to avail under KiwiSaver. This makes it one of the most flexible retirement schemes available to you. You can decide on the percentage of your gross pay that you want to contribute every month, for instance 4%. Moreover, the scheme also allows you ‘contribution holidays’, ranging from 3 months to 5 years, provided you have made regular contributions for at least a year.

3. Rewarding

The amount of money you contribute from your gross pay towards your KiwiSaver account is not the only sum you will be saving. Your employer is also liable to pay 3% of your gross pay into your account. There are certain exceptions to this, but this does make KiwiSaver highly rewarding for you. The cumulative sum you contribute every month will be greater than your individual contribution

4. Tax Credits

As mentioned, the government offers a tax credit to every member. The maximum limit for the credit is $521.43, provided you contributed at least twice that amount, excluding contributions from your employer. This means extra savings, which add up over time!

Sam Kodi | Financial AdvisorOverall, KiwiSaver is a viable option that you can avail to save money for your retirement and secure your financial future.

If you would like a review of your current KiwiSaver investment plan then please contact me on 021 283 5065, or book an appointment on my website

Five Reasons to Use a Financial Advisor for Your Life Insurance

We all want to plan for our family’s financial security and future. Part of this process involves ensuring that our beloved family does not have to go through struggle and hardships in the event of a spouse’s death, a parent’s death, or our death.

“This is why getting life insurance is a crucial part of everyone’s life.”

It can provide protection and security in plenty of ways, such as helping to pay for education for dependent children, your house mortgage, or fund your retirement. However, understanding life insurance and purchasing from the right agency can be confusing, and too many people think that life insurance on its own will provide enough protection- whereas in reality there are many situations where this will not be enough.

It is incredibly important to ensure you have sufficient and correct cover before you actually need it- you don’t want your coverage to fall short in the unexpected event of your death, leaving your loved ones with financial difficulties at what is already an emotionally difficult time.

Therefore, there are many factors to consider when choosing life insurance, and a trusted and experienced financial advisor can help you navigate these, as opposed to buying straight from an insurance company.

Here are just five of the many reasons why you should use a financial advisor.

1) A financial advisor can advise you on the amount of coverage.

When purchasing life insurance, it is important to assess your options thoroughly, and this includes the level of coverage you will receive. A common mistake most New Zealanders make is buying too little life insurance. As a result, their family doesn’t receive adequate coverage.

In the unexpected event of your death, your family should have sufficient funds to be able support themselves and any outgoings you have left, such as your mortgage and any debt you may have. This is not a one size fits all amount, therefore it’s really important to discuss your needs with an experienced financial adviser who fully understands you, your family, and your financial situation.

When deciding how much insurance is right for you and your family, you have to consider a number of factors. If you own a business, you may also have to consider how your passing will financially affect the company.

Other factors include:

• Your Debt: Your outstanding debt is a crucial factor in deciding how much insurance you need. Will your family be able to manage your debt without you?

family-fun-at-beach• Your Dependents: How many kids do you have? Who depends on you for financial support? Is your spouse working?

• The Age of Your Children: If your children are independent and can support themselves, you won’t need as much coverage as you would if you are supporting them, particularly if you have a young family.

• Funeral Costs and Time to Emotionally Deal: Funerals can be expensive, with the average funeral in New Zealand costing $8000-$10,000. If you aren’t sufficiently covered for this, this can add further distress to your family at what is already a taxing time. You also need to ensure your family has time to adjust with their loss, both financially and emotionally, so discuss with a financial advisor how long this period may be and what level of cover you need to support this

2) A financial advisor can advise you on the type of insurance you need.

Unfortunately, most New Zealanders think just life insurance is enough, when in reality, what would happen if an accident occurred, and whilst you were lucky enough to survive it, you ended up permanently disabled and unable to work?

How would this affect your family, your outgoings and your cash flow? And then there are added costs, such as rehabilitation facilities, alterations to your home and vehicle, and any future healthcare.

Therefore, it is also a good idea to supplement your life insurance with additional insurance- such as income protection, permanent disability insurance, and trauma insurance, so a trustworthy financial advisor will be able to assess your situation and discuss with you the level of protection you need.

You also need to make sure your premiums are manageable and affordable for your personal situation, so while in an ideal world you would be protected for all events, you may need to discuss which would be your must haves and which would be nice to have.

3) A financial advisor will ensure your insurance is tailored to you.

Buying your life insurance direct from a company may seem easy and straightforward- you can even do it from your couch online in the ad break of your favourite show these days. However, how do you know that the insurance you are purchasing is really covering your requirements?

Life InsuranceUnfortunately, too many people buy an off the shelf product, only for it to fail them when they need it most. Therefore, discussing your personal, financial and family situation with an adviser will ensure they really understand you and your needs, and means they will be able to provide the level of cover that YOU need, not someone else.

It’s more than likely that an adviser will know more about what you need from life insurance than you do, after dealing with so many companies and cases.

4) A financial advisor will save you time and hassle.

Gathering quotes from several different insurance companies can be incredibly time consuming, and when you go to compare them, they may actually appear identical.

The whole process can be tedious, therefore using the services of a financial advisor will take the hassle out of the process for you. A broker can arrange all the insurance and risk protection you need, and probably only need one meeting to identify your needs, so they can develop a comprehensive insurance proposal for you.

5) A financial advisor can provide guidance in the event of a claim.

In the event of your death, your family and loved ones will be dealing with enough emotional stress, whilst grieving, making funeral arrangements, dealing with your personal effects, etc. etc., therefore the last thing they probably feel like doing is dealing with an insurance company, even though financially they may really need the support.

A financial advisor can step in at this time and take the reins of the situation, and help with the paperwork needed to lodge a claim as quickly as possible. The insurance company will need a range of documentation, such as a death certificate, proof of the life insured’s age, the policy document, probate or letters of administration.

In the event your claim gets denied for some reason, your financial advisor can work with you and the insurance company to attempt to remedy this- the average person simply doesn’t have the experience to navigate the complicated contracts, difficult wording and sometimes mysterious practices of insurance companies, and therefore a good adviser will fight for you, spending hours on the phone or in person to make sure everything goes smoothly.

Sam Kodi | Financial AdvisorIf you want a review of your current insurance to ensure you are adequately protected in the event of your death, or if you don’t have life insurance at present and you want to talk to someone about the best option for you.

Please contact me on 021 283 5065, or book an appointment on my website

Winter is Over! How much did it cost you?

When the temperature drops and the days become shorter, power bills tend to soar. It’s not just heating our homes that causes the rapid rise in power payouts – there’s the added cost of using clothes driers, an extended need for lighting, more hours spent indoors meaning longer hours spent  wrapped up in front of the TV or computer, and the changes to what and how we cook during the winter months.

Staying on top of your power bill can get stressful – some household power bills more than double during our coldest months. Did yours?

Being prepared for the added costs ahead of time is a great idea. So while you may be thinking “Phew, the worst is over” what about next winter?  What can you do to make sure next winter doesn’t strain your budget?

It’s all about finding the cracks the winter draughts are blowing your hard earned money through, and staying ahead of the chill to keep your budget on track.

Big Ticket Items

These are items that need to be planned for in advance and involve an upfront cost to install but pay for themselves with reduced household heating costs in the medium to longer term.

  • Insulation – if your home is insulated already you’re one step ahead. If not, there are a number of options for insulating – even just getting the floors and ceiling insulated will make a massive difference. You may even be eligible for a subsidy! Make sure your hot water cylinder is well wrapped too. Your hot water cupboard should be dry but not overly warm – if too much heat is escaping from your cylinder, it’ll be working overtime to heat your water.
  • Energy efficient appliances – these can make a big difference to your power bill, particularly the type of heating that you use. A small fan heater uses a surprisingly high amount of power and are quite expensive to run. Look at installing a heat pump or other energy efficient form of heating.  When you next need to get a new appliance (of any description) make sure it is energy efficient – look for the stars!
  • Energy efficient hot water heating – approximately a third of your power bill is on hot water! Look at other solutions such as solar, heat pumps for water or on demand gas hot water heating.

Day to day tips

If the budget won’t allow you to purchase any of the big ticket items above you can still save on power costs in other small ways.

  • Layer up – clothes, bedding, window dressing and draught stoppers. The less cold you let in, the less you’ll have to eliminate with heaters, heat pumps, and dehumidifiers.
  • Cook smarter – bake in the evenings (the oven will double as heating, but do NOT use your oven as an actual heater), make friends with your slow cooker (much more power efficient than a conventional oven), and batch cook when you can (two lasagnes at once, one for dinner, one for the freezer to be reheated).
  • Use the sun – it’s much harder in winter, but air dry your laundry as often as you can. Most dryers cost around $1 / average load while the sun (or wind) will do the same for free. Even getting larger items (towels, bedding, coats etc) partially dried on the line during the day and finishing off in the dryer will save you valuable dollars. Keep your home well ventilated and air it out on sunny days to keep help keep it dry – damp homes are cold homes.
  • Save energy – energy saving light bulbs, hot water bottles over electric blankets. Turn off heated towel rails when not in use, switch off the summer beer fridge and turn appliances off at the wall when not in use.
  • Go easy on hot water – this is where the bulk of power costs are made. Have shorter showers (and keep baths as a treat) – a 15min shower costs around $1. In a 4 person household that means around $120 is spent on showers. Rinse dishes with cold water, fill the sink when scrubbing pots instead of doing dishes under a running tap, and consider doing all dishes by hand (even the most power savvy dishwashers and very power inefficient).

Consider the way you pay for your power too. Some power companies have pay systems set up where they estimate the annual power consumption of your household and split the cost equally each month. It means you’ll pay a little more than usual over summer to make room for the extra winter consumption.

There are many ways to stay warm without leaving your bank account out in the cold – just don’t leave it until winter to prepare.

Stop the Bills, I Can’t Work!

It’s a fact of life that most people live from pay cheque to pay cheque. Not many have cash reserves capable of seeing them through a significant period of time off work. So what happens to your debts (mortgage, credit card and other loans) and everyday living expenses if you are unable to work?

This is when insurance should step up to the plate for you.

Most people will consider themselves all wrapped up if they have the three main insurances:

  • Life Insurance – a great start! This will cover you for a set and agreed amount if you unexpectedly lose your life.
  • House Insurance – also an essential building block. This will cover the replacement or repair cost of your home should disaster strike – fire, flood, or any other damaged agreed upon by your insurer.
  • Contents Insurance – not vital, but definitely a good one to invest in. This will ensure anything inside your home will be covered in the event of excessive damage – theft, fire, flood, vandalism etc.

However, too many people don’t place enough value on their most important asset – themselves, and their ability to earn money. Making sure you are fully insured to cover all of your assets and commitments is even more important once you have a home loan to think about too.

There are different ways to cover yourself if you find yourself either temporarily or permanently unable to work:

  • Mortgage Insurance. This will cover your mortgage repayments up to an agreed value if you are unable to work either temporarily or permanently – depending on your policy – or a lesser amount if you are made redundant.
  • Income Protection. Covers either all or an agreed percentage of your income should you fall ill, be diagnosed with a terminal illness, or lose your job due to circumstances outside your control. The advantage of income protection is that is can stretches a little further than trauma or mortgage insurance – depending on your previous income – so it should cover some of your other essential living costs too.
  • Trauma Insurance. This is similar to income protection but cover provided is limited to inability to work due to trauma. Basically, trauma insurance will cover you if you experience a heart attack, stroke, or similar event that affects your ability to work, or if you are diagnosed with a terminal illness. Trauma insurance will also cover any ongoing medical costs you may be left with – physio, special transport, therapy etc.

You should always keep in mind that insurance fine print is a must read! Policies and qualifying factors vary from insurer to insurer so make sure you know what you’re paying for and the extent of your cover.

Personal insurance can be a little complicated as some policies offer very similar cover – being over-insured is almost as unhelpful as being underinsured. The key is knowing the value of your income, the value of your commitments, and finding the right cover to protect you in all worst case scenarios.

Losing your ability to earn can be stressful enough – the right cover will mean you can focus on replacing your income or restoring your health without the added financial pressure.

If you are still not sure which type(s) of cover would best protect you and your assets, it might be time to speak with Sam Kodi.