3 Things adults don’t want to pay for but probably should

  • Georgina Yarranton
  • 5th of October 2016
  • debt
  • finances
  • insurance
  • kiwisaver

Some days you just don’t want to adult but you do it anyway because you have no other choice!

Here are 3 things adults don’t want to pay for but, until you learn how to see into the future, it’s a good idea to consider investing in these insurance products:

Contents Insurance

Unless you live simply with just the clothes on your back contents insurance should be one of the first things invest in when you leave home. Contents insurance covers your precious things like your phone, laptop, TV, jewellery, clothes and other possessions so they can be replaced should they get stolen or damaged.

Tip: Some contents insurance policies do not cover your possessions if they get broken in your home, e.g. you left your designer sunglasses on the couch and your husband sat on them, so make sure you read the policy wording to cover all bases.

Health Insurance

We’re lucky that New Zealand has a pretty good health care system so day-to-day health costs aren’t too far out-of-reach for the average Kiwi but ACC and public hospitals can be limited to what they can help you with (and how quickly).

Unfortunately, you don’t have the luxury of planning when you’re going to get sick and need an MRI, or your wisdom teeth decide to make a painful appearance one day and need to be surgically removed, so when you have health cover it’s nice to know the not-so-nice tests and procedures can be taken care of as soon as possible with private health care providers – rather than being stuck on a long public waiting list, or having to leave it until you can come up with the doe (and in the mean time your ailment may worsen).

Tip: Health insurance is not a one-size-fits-all product so make sure you review your situation and choose a health cover option to suit you and your family. E.g. there are policies that can cover dentist and GP visits should you need it.

Life Insurance

Let’s face facts – we’re all going to die one day. And when we do it would be ideal if all our ducks are in a row and those closest to us are taken care of financially.

Life insurance means that any debt you have can be paid-off, rather than becoming a burden for your next of kin, helps them pay the mortgage, invest in your family’s future, put food on the table and pay the bills.

I know the extra monthly expense with insurance makes it easier just to say “she’ll be ‘right”, but it’s definitely worth the extra cost now to take control of you and your family’s financial future and health.

  • Georgina Yarranton Author

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