95. Which Insurances Do I Need? Part 1

Today we're tackling a crucial but often overlooked topic: how to calculate your life insurance needs. With recent FSC research showing only 20% of New Zealanders have income protection insurance, we'll break down the essentials of personal insurance and help you figure out exactly how much coverage you need. Key Questions Discussed: What are the different types of life insurance available? How do you calculate your ideal coverage amount? What's the difference between stepped and level premiums? Do couples need individual or joint policies? What are common insurance policy exclusions? and much more! Key References: Financial Services Council (FSC) 2023 Research MoneyHub Insurance Calculator If you enjoyed today's show, we'd LOVE for you to rate & review it on Apple Podcasts and share your favourite episode with a friend. SUBSCRIBE to It's No Secret, wherever you listen to podcasts and never miss an episode: Apple Podcasts - Spotify Follow us for fun chat & financial tidbits on IG: @itsnosecretnz Got questions? Get in touch: www.itsnosecret.co.nz Disclaimer: Investing involves risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time. The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice. Any information we provide is general only and current at the time of writing. Kernel Wealth Limited is the manager and issuer of the Kernel KiwiSaver Plan and Kernel Funds scheme. The Product Disclosure Statements are available at www.kernelwealth.co.nz