Life, disability and medical insurance

[WickedOne]

I am currently exploring an employment opportunity "on the side" and would like to get some feedback from you KBers.

We all know that, partaking in the activities that us bikers do, there are risks of injury, disability and even death. Do you currently have life insurance,
medical cover or disability cover and, if not, would you look into such insurance to ensure the wellbing of your family if the unthinkable was to happen?

[Devil]

Have life insurance, disability and working on medical at the moment!

[ManDownUnder]

Medical Insurance in place in case I get hurt, but alternate plans are in place should the unthinkable happen to our income

[Pumba]

I have Sothern Cross medical cover, and have done since I was 2 months old. I dont have life insurance or income protection insurance but do have other measures in place to take care of the mortgage and other things

[Bloody Mad Woman (BMW)]

I have had medical insurance in the past, but never got my money's worth so canned it. Been ripped off too many times by insurance companies. Anyway there's only me.

[HenryDorsetCase]

all of the above.....

[onearmedbandit]

I'm with HDC, all bases are covered!

[Guitana]

No insurance at all why would you bother??
New Zealand has an excellent health service it only took 4 years to have my shoulder repaired on the public health roster!!!!

[Nasty]

I can't get these insurances without huge loadings on them as I got a disability before getting any insurance ... craps the big one really :(

[Hitcher]

Many people believe that worst thing that can happen to them and their families is for them to die, and they therefore invest heavily in "life insurance".

The worst thing that can happen to you is for you to be disabled by an accident or by a health condition to such an extent that not only are you unable to work, but also you become dependent on others for your health and general wellbeing. Very few people insure against this contingency. I strongly recommend income protection insurance, in addition to major medical cover. ACC and the welfare state will only take you and yours so far.

Have a chat with an independent insurance broker sooner rather than later.

[mstriumph]

They have medicare over here - you pay a % of your income for it ..... I had private health cover as well for a time whilst it was tax-deductible - then they made the private contributions taxable so i let it drop ..... bugger the double-dipping pollies ....

Similarly, i'm damned if i'll pay out on something i have to die to collect - and i'd think it macabre for my loved ones to reap a windfall profit of that sort [they are all self-sufficient as is]

The company covers my travel to/from work - their choice

I have enough odds and sods to pay out the mortgage should i snuff it and staunch loved-ones ready to gently pull the plug should i be irrevocably nearly-but-not-quite-snuffed [or not, as the case may be - no bother, either way i'll be past caring and wouldn't blame them]

Anything else is in the lap of the gods - life doesn't come with any guarantees
and, mostly, life and health insurance seems like a racket to me?

"Ahhhhh - but you'd feel differently had you a young child" i hear you say .... actually, no ......... when my daughter was younger i ensured i had carefully-planned guardianship arrangements and trusts in place for her should i involuntarily depart the planet ........ seemed more sensible that taking part in some sort of mega-payout lottery with my life as the pawn somehow.

. but i know my thinking on the subject isn't 'the norm.' - people choose for themselves - that's why it's a free country.

[Drum]

I've got income and mortgage protection insurance. If I get disabled or killed then the house gets paid off and the missus' gets an income for life (around 80% of my income). Applies to long term illness too (i.e Cancer etc).

It's not cheap - I got it instead of Sky.

[geoffm]

Life ins - to freehold the house. Income protection, ditto. Medical insurance (surgery).
None of them cover motorsport, diving or hunting :-(
Geoff

[Flyingpony]

Have life insurance but no longer any income or medical insurance. The later two when needed didn't pay out, so F#$% them. I've got better things to spend my money ($40 odd per month) on things like debt reduction vs wasting it on that.

[Squeak the Rat]

Have a chat with an independent insurance broker sooner rather than later.

:killingme: independent + insurance broker = oxymoron.

Sure they'll sell you something but they make a commission off the sale (ie a kickback), so it's in their best interest to either oversell or steer you towards the insurer with the highest kickback.

But you don't have much choice unfortunately, so ask for a comparison and disclosure of commission. And consider a longer stand-down period.

[Toaster]

All my insurances are costing a fortune - blimin' criminal what they charge for all kinds of basic insurances.

[F5 Dave]

ok well this is maybe off the originator's original intention, but I'll thread raid a little, heck, maybe it will tell him a bit about the perceptions of the competition.

Have medical through werk but since marriage & the recent mortgage we need to think about life/disability cover. Opinions as to decent company/option? (as opposed to they sent me a flier & I filled it in so I am with xx).

[Beemer]

We both have medical insurance and my husband has life and disability insurance. I have a small life insurance policy (just enough for a funeral!) but no disability insurance. I'm self-employed and my income varies month to month and for the money, I haven't really seen anything worth the premiums.

[judecatmad]

Have all the above due to my working in the industry. But then I'm a Life and Disability Underwriter so I know my chances of ever getting any of the above on standard terms under non-group schemes are laughably low, so I take advantage of all continuation options I'm offered every time I move companies!

[Hitcher]

Have medical through werk but since marriage & the recent mortgage we need to think about life/disability cover. Opinions as to decent company/option? (as opposed to they sent me a flier & I filled it in so I am with xx).

I'm with Tower for major medical and AXA for income protection. These were the two best options when I bought them some years ago. Things may well have changed since.

[bungbung]

Have medical through werk but since marriage & the recent mortgage we need to think about life/disability cover.

I'm in much the same boat. I'm with Southern Cross for medical through work group scheme. I have a group retirement fund run by NZI which contains a small death/disablement policy, but I want to expand this to include my partner.

There doesn't appear to be any significant benefits involved in using the same insurance company as my other policies. (As opposed to getting a discount for holding multiple vehicle policies).