In a world where insurance can be easily bought online, some may wonder why personal insurance advisors still exist. Hamish from mortgagesonline.co.nz asks Sandy this question and she shares an insightful story.
Sandy tells the story of her friend who purchased medical insurance online and paid over $8,000 for a few years. When her friend’s fingers started to have issues, he went to see his GP and was recommended to see a specialist and do some brain tests, which cost him thousands of dollars. He approached the insurance company for approval for the tests, but unfortunately, it was declined because he did not take up the specialist and test option at the time of signing up for the policy. They told him he could only make a claim when he needed surgery in the hospital.
This situation highlights the importance of having a personal insurance advisor. When applying for an insurance policy, there is a health questionnaire to go through, and it can be confusing to know what to disclose and what not to. For example, if someone has slightly high cholesterol levels, no medication needed, and the doctor only asks them to watch their diet, should they tick yes or no? Some people may skip questions they think are not important, which can affect their claims years later.
Sandy emphasizes that personal insurance advisors can help set up policies safely and properly, and offer comfort to clients. They can guide clients through the health questionnaire and ensure they disclose all relevant information, helping to ensure a robust claim process further down the line.
In conclusion, personal insurance advisors still hold value in today’s digital age. While it may seem more convenient to buy insurance online, having an advisor can provide the necessary support and guidance to ensure policies are set up correctly, and clients are protected when they need it most.
