These are most definitely difficult and unique times as the world grapples with the rapidly evolving impact of coronavirus (COVID-19). Our thoughts are with those affected across the world, and of course at home in New Zealand.

Times such as these highlight the importance of supporting each other and caring for our community: from the courageous efforts of the health workers across the world to what we can all do individually to protect ourselves, our loved ones and the wider community. For our part, it reinforces the importance of being there for our clients: to offer guidance, to answer queries, and to provide expert advice in these uncertain times.

COVID-19 and your personal insurance cover

Expert advice for your needs: Whenever you have a query about your insurance, no matter how big or small that might be, please don’t hesitate to contact us. Whether you’d like to check in on the cover you have in place or have queries about a specific policy, we’re here to help.

Making informed decisions: We may see some changes from insurers relating to pandemics for new policies. This means it is even more important that if you are considering new cover, you have all the details and advice to help you thoroughly understand the benefits, exclusions, wait-periods etc. And this is particularly true if you are considering changing cover from an existing policy. Don’t hesitate to get in touch if you would like to review or discuss your options.

Mindful budgeting: In these uncertain times and particularly amid the significant financial concerns created by coronavirus, you may be looking for ways to save money. If your insurance is on your list to review, we urge you to get in contact. Insurance can provide important protection, and in uncertain times this can be all the more important. Having said that, we’re here to help so please do contact us should you experience financial hardship and need to review your options.

COVID-19 and your investments

As you know, we have seen swift and significant response from sharemarkets as a result of coronavirus. Current market volatility is understandably causing concern, added to which is the uncertainty as to how long this may last.

Being concerned is of course normal, but it is important not to make knee-jerk decisions, and to keep your investment goals and timeframe in mind. Of course, every individual investor has different needs, risk appetites and plans, so we encourage you to get in contact if you have any queries or would like to discuss your options. 

COVID-19 and your mortgage

To support the economy, the Reserve Bank of New Zealand recently cut the official cash rate to 0.25 per cent – its lowest level since the OCR was introduced in 1999.

Floating mortgage rates have followed suit, with most lenders passing on the cut in full, and some fixed rates are dropping also. In the rapidly changing environment, you may have questions about your mortgage – the structure and interest rate options. If so, we welcome you to get in contact to discuss, for example:

  • Re-fixing options, keeping in mind when your fixed rate or rates are due to expire, and any break frees that may apply.
  • Whether lower interest rates could be an opportunity to pay off your principal faster.
  • And importantly, if you have concerns about your home loan repayments during this time of economic uncertainty.

Remember, we’re here for your questions

As we all know, this is the time for our community to support each other. Please keep in mind that we’re here for any queries or concerns you may have about your insurances or investments. Also, in light of recent developments, and to support the comfort of our clients, our meeting options include consultation and advice via videoconferencing (and of course over the phone).

Take care and thank you for your time.

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 development or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.

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