Business Insurance (Income, Life, Trauma, Total & Permanent Disablement)

Business people work too hard to throw

away their money.

Yet knowing just where and how to get the best value can be difficult. That’s where the team at Horizon Insurance Advisors come in.

“One of the most important decisions people in business can make is partnership or ‘key-person’ insurance,” says Fiona. “In the event of the unexpected, it is vital that the partners or business owners already have a plan in place.” Without a plan, problems can arise if a key person or a business partner suffers a serious illness or dies, says Fiona. “Business insurance is future proofing” because having the funds from an insurance policy gives the policy owner choices. Many small businesses would suffer financially if a key-person was disabled and couldn’t continue in his or her role; likewise if a business partner suffered a serious illness or died, funds would be needed to buy the partner, or his/her beneficiary out.

“The right time to take out insurance is before you need it”, says Fiona. Business owners can put in place, at the time of application, the facility to increase their protection as their business grows.” This means regardless of any future changes to their health, they have the peace of mind knowing they can increase their protection.

Aligned with that insurance should be a buy/sell agreement between the partners. This important document spells out the criteria for the trigger point (medically) for one partner to buy out the other, which is then funded by insurance.

Business and personal Insurance is the major part of Horizon’s business. “But ours is not a fire and general business, says Fiona.

“We cover the body.” As well as life insurance, the advisers at Horizon offer trauma, income protection, health insurance, total and permanent disability, and mortgage repayment insurance.

“Many people think that their house is their biggest asset, when in reality it is often their biggest liability. Your ability to earn is your biggest asset because without income you don’t have a lifestyle” says Sue.

“A huge point of difference we have from many other adviser businesses is that we don’t have contractual obligations to any one insurance company,” says Lisa. “We are able to choose which company’s products best meets our clients’ needs.”

It is all about the clients and ensuring we’re there for them at claim time, says Fiona. “Often the client’s interpretation of the policy wording is quite different from the insurance company’s. That is when we go into battle for our client.

Staying informed is vital so the all-women team (Fiona, Sue and Lisa) invited ACC to come to the office and explain its CoverPlus Extra policy. “It is in our, and our clients’ interest that we know all about this,” says Fiona. ACC, together with Income Protection or Mortgage Repayment, used as part of a client’s risk protection plan, offers better all-round protection than ACC alone, but it’s vital that our clients have the right type of ACC cover.

Investment Advice is an area that has become highly regulated in the last year. An important aspect of any investment is ‘risk profiling’.

The Authorised Financial Adviser (referred to as ‘AFA’) must conduct a risk profile with each investment client. This is a comprehensive profile analysis that assesses the client’s ability to handle risk, and determines whether the client is a conservative, balanced or aggressive investor.

“On July 1, 2011 it became mandatory for all fi nancial advisers who gave personalised advice on insurance and investments to become authorised,” says Lois. This involved a great deal of hard work, study and examinations. The regulations set standards for disclosure, competence, continued training, accountability and transparency.

One of the major changes under the regulations was the process by which Authorised Financial Advisers give advice. “Our first visit is about fi nding out our client’s situation and needs” says Fiona. We look at the whole picture, their short, medium and long-term goals. Then we research how best to meet those needs. That research and the subsequent recommendations must be backed up by supporting documentation and the client provided with our ‘Statement of Advice’ – a document that summarises what our client wants to achieve from a risk protection plan, our recommendations and the cost of the recommendations.

Collectively the women at Horizon have many years experience in their profession and they all thoroughly enjoy their work and their working environment. “We are never too busy to have a laugh,” says Sue.

For more information ring  Fiona on 027 432 3439, Sue027 418 3067 or Lisa  on (027 211 8335, or

email: admin@horizoninsurance.co.nz