Services

Insurance

A personal risk in insurance terms is the financial consequences you, your family or your business interests would face should you become unable to work due to illness or injury. The bottom line for most is – if you can’t work, you don’t generate income! A simple test to ask is: what have you got in place as a “just in case” should something happen to you in the short or long term?

 

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Health or Medical

The public health system will treat major and acute illness (e.g. heart attack, stroke and some cancers). You may require complex diagnostic tests, have a degenerative condition or your treatment is considered “elective” or nonurgent. Under the public system, you will be placed on a waiting list. Many extremely effective treatments or medications are emerging which may not be currently subsidised by PHARMAC. This means they may not be available through the public system, even if they are the best treatment option for your condition.

Private Medical Cover is designed to help meet the costs of treatments and procedures and jump the public system waiting list.

Income Protection

Income protection provides a financial safety net should you be disabled as a result of sickness or injury, which means you are unable to earn your regular income. The benefit is designed to replace a significant portion of your income to help maintain your usual lifestyle during treatment and recovery. If you are self-employed income protection can be used alongside ACC Cover Plus Extra to reduce your ACC levies, at the same time providing cover for both accident and illness. ACC Cover Plus Extra allows you to dial back your ACC levies, as a result your ACC entitlements are reduced if you are injured or die as the result of an accident.

Some of the income related covers include Income Protection/Loss of Earnings, cover designed to protect your income. There are a number of different variations on this, as with all insurance it is important to ensure that you get what is right for you. Mortgage Protection covers your mortgage payments should you be  incapacitated and unable to work, and Household Expenses works to pay the regular expenses to run your house should be unable to work (rent, electricity, gas, rates etc).

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Trauma Cover

Trauma cover provides a lump sum payment should you suffer a serious or potentially life threatening or changing condition, such as heart attack, stroke, cancer, loss of limb/s, Multiple Sclerosis, Parkinson’s disease, etc. The trauma cover benefit can assist you to stabilise your financial position following a significant health event.

You may wish to pursue treatment options not available in NZ, you may wish to take time to spend with loved ones, you might need to pay for nursing care, additional childcare costs or make alterations to your home as a result of any disability caused by the trauma.

The choice is yours.

Total and Permanent Disability Cover

Total and Permanent Disability (TPD) provides a lump sum payment should you completely lose your ability to ever work again (or carry on your normal tasks associated with normal living activities), as a result of illness or injury.

TPD Cover is designed to help alleviate the significant financial impact that losing an income forever would cause.

The lump sum can help reduce debt, purchase specialised equipment, pay for home modifications, provide additional care, create an investment fund to generate ongoing income or to enable business ownership to be restructured.

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Life Cover

Life cover pays you the insured amount when you are diagnosed as being terminally ill, or when you die. This cover can be used by your loved ones to cover funeral costs, pay off debt, leave a nest egg or inheritance.

Everyone’s situation is different so do get in touch and we can plan a meeting to discuss your cover and tailor a plan for you and your family’s needs. 

Adviser Disclosure Statement

I am a financial adviser (FSP778953), and I am giving advice on behalf of Foundation Advice Limited (FSP768191) who are the Financial Advice Provider. 

My details are as follows:

Name: Carla Jordan

Phone: 021 0488772, 0508 72 22 22

Email: carla.jordan@foundationadvice.nz

Address: 20 Florence Avenue, Orewa, Auckland 0931

www.foundationadvice.nz

I will provide you with advice in relation to your personal insurances (life and health), KiwiSaver.

We only provide financial advice about products from certain providers:

  • For life insurance, we work with AIA NZ and Partners Life.
  • For health insurance, we work with Accuro,AIA NZ, NIB and Partners Life.
  • For KiwiSaver, we work with NZ Funds.

In providing you with financial advice, we will only consider existing term life, trauma, income protection and health insurance policies (if any). We will not provide advice on existing whole of life or endowment products, so you will need to consult a specialist if you would like advice on those products.

Neither Foundation Advice Limited nor I have been subject to a reliability event.

A reliability event is something that might materially influence you in deciding whether to seek advice from me or from Foundation Advice Limited.

(As an example, such events would include legal proceedings against me, disciplinary action from regulatory bodies or if I had been discharged from bankruptcy in the last four years).

 

There are no “reliability events” that to be reported.

I will not charge you a fee for the financial advice I will provide to you.

I am employed by Foundation Advice and receive a salary. I also receive a percentage of the commission Foundation Advice receives from the relevant insurance company if you take out insurance following my advice.

For personal risk products, Foundation Advice Limited receives commissions between 180% and 230% of the first year’s premiums of your policy – the amount depends on which insurance company and which insurance policy you choose.

Foundation Advice Limited also receive a commission of between 5% and 10% of the premium for each year the policy remains in force which is to fund ongoing assistance with your policy. In addition, Foundation Advice Limited may receive commission of between 15% and 30% of the first year’s premiums of your policy, depending upon which insurance company and which policy you choose.

For KiwiSaver Contracts Foundation Advice receive commission ranging between $40.00 and $200 for KiwiSaver plans implemented. They also receive a commission of .025% of funds under management each year the plan remains under our supervision

All commission received by Foundation Advice are used to fund the business operating expenses (Rent, Utilities, Salaries, Training and Specialised Systems) and to provide ongoing assistance with financial advice and support clients and prospective clients.

To ensure that I prioritise your interests above my own, I follow an advice process that ensures my recommendations are made on the basis of your individual goals and circumstances. I complete annual training about how to manage conflicts of interest. We undertake a compliance audit, and our compliance programme is reviewed regularly.

If you are not satisfied with our financial advice service you can make a complaint by emailing jenny.fromen@foundationadvice.nz or by calling: 0508 722 22 22. You can also write to us at: 20 Florence Avenue, Orewa, Auckland 0931.

When we receive a complaint, we will consider it following our internal complaints process:

  • We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.
  • We aim to resolve complaints within 15 working days of receiving them. If we can’t, we will contact you within that time to let you know we need more time to consider your complaint.
  • We will contact you by phone or email to let you know whether we can resolve your complaint
  • and how we propose to do so.

If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact Financial Services Ombudsman Scheme Limited.

Financial Services Ombudsman Scheme Limited provides a free, independent dispute resolution service that may help investigate or resolve your complaint, if we haven’t been able to resolve your complaint to your satisfaction.

You can contact Insurance and Financial Services Ombudsman Scheme Limited by emailing info@ifso.nz , or by calling: 0800 888 202. You can also write to them at: PO Box 10-845, Wellington 6143.

Foundation Advice Limited, and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice.

We are required to:

  • give priority to your interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests;
  • exercise care, diligence, and skill in providing you with advice;
  • meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice);
  • meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should, and give you suitable advice).

This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at www.fma.govt.nz.

Foundation Advice Limited (FSP 768191) is the Financial Advice Provider.

You can contact us at:

Phone: 0508 72 22 22

Email: info@foundationadvice.nz

Office Address: 20 Florence Avenue, Orewa, Auckland 0931

www.foundationadvice.nz