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10 Dec 2021

Six signs that an insurance review is due

As we welcome the new year, there’s often a feeling of fresh starts and new beginnings in the air. Now can also be a good opportunity to take stock of the big and small changes that you’ve experienced of late, and re-assess the level of insurance protection you have in place. To help you get started, here are some common signs that an insurance review might be due. Of course, there may be others depending on your circumstances; so if it’s been a while since you last reviewed your cover, please don’t hesitate to contact us. We can organise a review meeting at your earliest convenience.

You have a family now 

As your circumstances change, so may your insurance needs. For example, if you’ve recently started a family, protecting your child’s financial future is likely to be a new priority for you. And that makes certain types of insurance for you – like life cover, income protection or trauma cover – worth considering. Get in touch: we can help you explore your options. 

Your relationship status has changed

Just like starting a new family, a change in relationship status may also trigger the need to review your cover. Whether you’re now in a couple or have recently separated, it’s important to check that your insurance is aligned with your current situation. You may like to consider other policies or a different level of protection altogether. 

Your income has changed

If your income has changed since you first took out cover, then now can be a good time to reassess your insurance spending. If you had a pay rise, for example, you might be able to afford to expand your coverage and get more of the protection you need; on the other hand, if you’re earning less than you used to, it may be worth checking that you’re not paying for extras that you don’t use. As always, we’re here to help. 

You’re looking for long-term affordability

If you’re in your 30s or 40s, you may be looking into the benefits of level premiums. Unlike stepped premiums, which increase with age and are the most common type of insurance premium in New Zealand, level premiums usually start higher but remain the same as you get older. 

This option is available with some types of insurance (life cover, for example), and can be a good fit if you expect to keep the same level of cover for a long time and you’re seeking certainty of payment amount, without age-related increases.. Get in touch to learn more. 

You’ve become self-employed

Many people, especially over the past couple of years, have been reconsidering their career path and some have made their entry into self-employment. Sound like you? Going into business is likely to trigger the need for an insurance review. Once again, get in touch if you’d like to talk about your protection.

You’ve quit smoking

If you were a smoker when you took out cover, and you quit for good at least 12 months ago, you can ask your insurer to switch you to non-smoker premiums. These are usually much lower than their ‘smoker’ counterparts, so the savings you can get are significant. 

Have your priorities changed? Get in touch

These are just some examples of common scenarios that usually call for an insurance review – but there could be more. As insurance advisers, we’re here to help you understand if your cover is still aligned with your ever-evolving needs: get in touch if you’d like to explore your options further.



Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.

Link Financial Group Ltd trading as Mortgage Link and Insurance Link FSP 696731 holds a licence issued by the Financial Markets Authority to provide financial advice. Insurance Link (NZ) FSP 446867 is authorised by that licence to provide financial advice. Please visit for more information and Disclosure information.