Life Insurance

Let's not beat around the bush: life insurance is a gloomy topic. But it's also necessary for peace of mind knowing your clan is taken care of if the worst happens.

Life insurance can help you and your family out financially in the case of an illness, redundancy or other plot twists in life.

Umbrella protecting family

What we can help with:

  • Mortgage protection (AKA cover to pay your mortgage while you can't)
  • Income protection or cover to replace your income
  • Life or trauma cover

Mortgage Protection

If you're no longer able to work due to sickness or injury, mortgage protection insurance will continue to pay an agreed monthly amount to cover your mortgage so you can concentrate on getting better, without losing your family home.

But isn't this what ACC is for? 

You're actually much more likely to be off work due to illness (the most common being stress) than you are due to an accident. And in the event that you DO end up having an accident that prevents you from working, you would receive both ACC and your insurance payments.

So how does mortgage protection work in the event of a claim?

You would have an agreed period of time before the payments kick in (typically 1, 2 or 3 months) depending on how long you can afford to wait after loss of income, and how much you want to pay for the cover (the longer you wait, the lower your insurance premium).

The payments would continue until you return to work or reach retirement age (again depending on what you have agreed up front). Your Squirrel adviser will discuss all of your options at the time of recommendation.

Life insurance - lifebuoy ring
Three umbrellas

How life insurance works

If you have a life insurance policy, this entitles the policy owner to a lump sum payment in the event of your death. Most policies will also have a clause which will allow a pay out in the event of terminal illness with less than 12 months to live (this is all a bit doom and gloom isn't it).

Why is life insurance important?

It allows your loved ones to take the time they need to grieve, covers any costs like the funeral arrangements and can help with the mortgage. It's not about making your family feel like they've won lotto your family won't be left in a position of financial instability in the event of your death.

What is trauma insurance?

Trauma cover will pay out if you suffer a major health problem such as cancer, stroke or a heart attack. When something major like that happens, it often put things into perspective and trauma insurance will allow you the freedom to focus on what's important without worrying about money.

How does trauma cover work?

If you are still alive 14 days after being diagnosed, then you will receive a lump sum payout to do whatever you choose with it. Trauma insurance will pay out whether you are able to work or not, unlike income protection.

Many people who suffer a major health issue can take a long time to recover and trauma insurance will take the pressure off financially. You could use the money to support a loved one who is caring for you, get alternative medical treatments, take a holiday with the family, childcare, pay off the mortgage - whatever you need. 

Who we work with for insurance

Your situation is unique, and not all providers are the same. We compare them to find the right cover for you. 

Making a claim is easy

As well as arranging your insurance, we're also here for you if the time comes to make a claim. 

To keep the process simple for you, all you need to do is get in touch with us, let us know what's happened and we'll go in to bat for you and make sure you get everything you're entitled to.

Give us a bell, we're happy to help.