Bolster Risk Management Dominic Bish

"Do I need to declare that I smoke?"

Whether you smoke cigarettes, cigars, pipes, vape, or use nicotine replacement patches (or chew nicotine gum), you need to declare this to the insurance company.

If you don't have insurance, you'll need a full risk review to understand your current situation.

If you currently have cover, then doing a full review should be done every 2-3 years, or whenever there are major 'life changes'.

One of the things that savings, loan payments, mortgages, KiwiSaver and the Consumer Price Index have in common is Compound Interest yet most people don't know what it is and how it works. In fact, most people would say what has it got to do with me and why should I even care about compound interest at all?

Key Ideas:

· What is compound interest and why care?

· The formula for compound interest

· How compound interest grows over time

· The good and bad



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BolsterRiskManagement.com

Personal insurance: The policyholder versus the beneficiary.

The policyholder can make decisions about the policy, and need to authorise any changes.

The beneficiary receives the benefit (for example, the life insurance amount)

Recently we had International Women’s Day and the Financial Services Council of New Zealand (FSC) encouraged businesses to promote and discuss women and money in the finance sector. This is important and relevant but is difficult for me to write about as a man without mansplaining (wow the autocorrect saw that as a real word!) and to really get to the heart of the issues.

There is no denying that there are clear discriminations when it comes to women and money and I will discuss these. I actively want to encourage women to have agency over their financial affairs. Read on, let’s see how I do.

Key ideas


“It’s a man’s world”
Facts, more facts and inference
Strong women help women get stronger
Keep It Simple

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#DominicBish

I was going to call this article “IP for Dummies”, but figured there might be some trademark issues. It is not something we often think about, but what would you do if you became sick and were unable to work? You may have heard about Income Protection (or ‘IP’) already. You may know that if you are sick and cannot work, this insurance will pay you out each month. This sounds great, but you may have also heard that it is too expensive, not worth it, or is just too boring and hard to understand. As a result, you do nothing.

Key Ideas:

· What is IP (and what it is not)?

· When would you need it?

· How is the cost figured out?

· What is Agreed Value, Indemnity and LOE all about anyway..?

· Pricing examples

Read the full article here

#DominicBish