Latest / The Curve / RTC63: A guide to adulting - Getting your Plan B sorted before it’s too late

Transcript

RTC63: A guide to adulting - Getting your Plan B sorted before it’s too late · The Curve

• 0:00
  Rochelle and Philly are financial advisors from R&P Insurance,
• 0:03
  Arthur Rochelle and Pee for Philly, but also Arthur for Risk and Pee for Protection,
• 0:08
  which is quite clever.
• 0:10
  They specialize in insurance and are super passionate about making it a fun and easy conversation.
• 0:16
  Insurance doesn't need to be this big scary overwhelming topic,
• 0:20
  but it often is, which is why we're really grateful for them for demystifying
• 0:24
  and making the whole situation an application process just so much easier.
• 0:29
  The first step is to understand all about insurance, which hopefully, after this episode, you will.
• 0:34
  And the second is to decide what kind of cover, if any, you want to go for.
• 0:38
  So thank you so much to Rochelle and Philly for being so passionate about educating
• 0:42
  and helping ensure those like me, who have definitely ignored it for far too long,
• 0:47
  actually start to get on to it.
• 0:49
  For more information or to get in touch with them, you can head to r&pinsurance.co.nz
• 0:54
  or you can find them on Instagram at r&pinsurance.
• 0:59
  Welcome to Raising the Curve, a podcast designed to teach you everything you need to know
• 1:03
  to be better with your money.
• 1:04
  And the wise words of Amy Schumer were slipping carrots into the brownie recipe.
• 1:09
  I don't really get the saying.
• 1:12
  It's kind of like eating vegetables that actually taste good.
• 1:15
  You know, I'm like, I'm staring at the brand new.
• 1:16
  Are you on the script?
• 1:18
  It's basically like saying, investing in finance can be boring, but it totally doesn't need to be.
• 1:24
  Okay, okay.
• 1:26
  So we're making it fun by putting the carrot.
• 1:29
  Okay, the vegetables are good for you.
• 1:31
  It's the brownie recipe.
• 1:32
  Okay, we got there.
• 1:33
  We got there.
• 1:33
  Okay.
• 1:34
  Well, you've really got a finance way.
• 1:36
  Yeah, one of us has to.
• 1:38
  This is a joke.
• 1:39
  Okay, come and learn alongside me from Vic Harris, ex-fun manager.
• 1:43
  Well, I'm going to ask all the questions that you wish you could.
• 1:46
  And I'm going to be eating all the brownie you wish you could.
• 1:48
  No, that's so not the joke, Vic.
• 1:51
  Okay, just come and talk and learn and laugh with us.
• 1:53
  Because together, we really can raise the curve.
• 1:58
  Today is the first time that we've had two guests on Studio Vic.
• 2:02
  It's a bit crowded in here.
• 2:03
  It's crowded.
• 2:04
  It's hot.
• 2:05
  It's hot.
• 2:05
  It's busy.
• 2:07
  You're a cord everywhere.
• 2:08
  No, but welcome to the Studio of Michelle and Philly.
• 2:10
  It's very exciting to have you here.
• 2:11
  And also, they're flown all the way from Christchurch, which is just a plus plus for Rupert.
• 2:15
  Thank you for having us.
• 2:17
  It's an absolute pleasure.
• 2:18
  Do you not recommend flying jute star up on the stage?
• 2:23
  We were a little bit late this morning.
• 2:24
  So, yeah.
• 2:25
  No, it's not your fault.
• 2:26
  We won't be blaming you.
• 2:27
  We're going to be blaming jute star.
• 2:28
  Yeah, jute star.
• 2:29
  Now, this is, before we get started on this conversation,
• 2:32
  I must say, every time Vic has brought to the subject, I'm like,
• 2:38
  I used to say, sorry, we'd be like, look, we need to talk about Kiwi Sabre.
• 2:41
  She'd be like, oh, and now she realizes the importance.
• 2:44
  So, I'm hoping that after today,
• 2:47
  I'm just going to be like, ensure, rinse, ensure, rinse.
• 2:50
  Yeah, that's okay.
• 2:50
  So, the cat's held the bag.
• 2:51
  We're talking about a joke.
• 2:52
  I'm sorry.
• 2:53
  I'm sorry.
• 2:54
  Oh my god.
• 2:55
  So, Rupert is lovely and troll.
• 2:57
  I just couldn't cut to the chain.
• 2:58
  No, it's fine.
• 2:59
  So, Michelle and Philly are independent financial advisors.
• 3:02
  Their owners and co-founders of R&P insurance,
• 3:05
  and they've got a very different approach
• 3:07
  to what you would expect a normal insurance company to have.
• 3:10
  So, nice to have you both here.
• 3:12
  Thank you for coming in.
• 3:13
  Thank you for having us.
• 3:14
  It's an absolute pleasure.
• 3:16
  We wanted to get them in studio to chat about insurance,
• 3:19
  why it's important, why we need it,
• 3:21
  how you even go about getting it.
• 3:22
  Because I think it's one of those kind of
• 3:24
  a key conversations that's quite filled with lots of men
• 3:27
  and so it's who don't have much here left.
• 3:29
  So, it's a bit of a COVID baby, really, wasn't it?
• 3:31
  Or around the time of COVID?
• 3:34
  Yeah, we left post, left corporate jobs, post-COVID,
• 3:37
  which is quite brave when we look back.
• 3:39
  I still can't believe I personally did it as being,
• 3:42
  yeah, breadwinner with two young kids.
• 3:44
  What we found with COVID is that it actually just
• 3:47
  brought to the forefront what was most important to us
• 3:51
  and we wanted to work hard,
• 3:53
  but also had balance with our family
• 3:55
  and that R&P kind of,
• 3:57
  or the both of us decided that we might just take that leap
• 4:00
  off faith, which was massive, I think.
• 4:03
  Philly's quite risk of birth, I love a good...
• 4:04
  Me too.
• 4:05
  I feel like I'm still a poor person.
• 4:08
  I'm a bit alone or we'll wait till this COVID thing passes.
• 4:11
  I'm like, it's three years away.
• 4:12
  Great day.
• 4:13
  Yeah, I had the pros and the cons list,
• 4:16
  but something was just going to count telling me inside to do it.
• 4:19
  And so...
• 4:19
  Oh, you know, there's never a right time, honestly.
• 4:22
  Like, you can sit around and wait and wait and wait
• 4:24
  for the right time, but, yes, you just kind of just jump in
• 4:27
  and make it work.
• 4:28
  Yeah, and I'm so glad we have zero regrets.
• 4:30
  I'm not saying it, it's been easy,
• 4:32
  but it's...
• 4:33
  I've learned so much, which is probably especially me as well,
• 4:36
  not having kind of a business background.
• 4:38
  That's great.
• 4:39
  Well, our own boss is...
• 4:40
  What actually is insurance and how does it work?
• 4:43
  So people are paying a certain amount to a certain company.
• 4:47
  I don't know, I know that sounds really basic,
• 4:49
  but if you could just give us a general context
• 4:51
  as to what insurance is, if something goes wrong,
• 4:55
  the insurance company is then going to replace that loss for you.
• 4:59
  So for us, it's genuinely based on somebody's health.
• 5:02
  That's what goes wrong, and then we replace the income.
• 5:04
  Like, that's genuinely what it is.
• 5:06
  So you guys focus quite a lot on health insurance,
• 5:09
  which I imagine probably...
• 5:10
  I think the reason we wanted to have this conversation now,
• 5:13
  as well, just for context for everyone listening,
• 5:15
  is the world right now is so uncertain,
• 5:17
  there's so much happening, whether it be with the events,
• 5:20
  whether it be dare I say it, COVID,
• 5:22
  there's so much uncertainty.
• 5:24
  And I would say now more than ever,
• 5:27
  I've started to think about all different types of insurance,
• 5:30
  whether that be...
• 5:30
  I'm...
• 5:31
  You can just put my hand up right now.
• 5:32
  Do you have current insurance?
• 5:35
  I have no insurance at all.
• 5:37
  Too huge to the car goals.
• 5:39
  Please look after the police.
• 5:41
  I don't have car house contents, nothing.
• 5:44
  I've got no kind of insurance.
• 5:47
  Which is...
• 5:47
  Even though there's a lot of tea at me, like...
• 5:50
  So, no.
• 5:52
  I just pause this and like, I'll do that for you.
• 5:54
  We're just going to have a bit of an anxiety attack.
• 5:55
  You jump online.
• 5:57
  But what is the most important type of insurance?
• 5:59
  For someone like me who might not have any,
• 6:01
  where would you start?
• 6:02
  Please just get some contents in car.
• 6:03
  Yeah, I think it's a good place to get into car.
• 6:06
  Yeah, and like, we don't do contents in car.
• 6:08
  We do the other stuff.
• 6:09
  But contents in car, cover your stuff that you've worked hard to get.
• 6:13
  It's affordable, and then you can get used to it.
• 6:16
  But then the next step for me would be probably health insurance.
• 6:18
  I actually had no health insurance.
• 6:20
  I think.
• 6:21
  Oh, that's good.
• 6:21
  Oh, sorry, I just see that.
• 6:22
  We could check that.
• 6:23
  I think maybe I canceled it when I didn't...
• 6:25
  At one point when my...
• 6:26
  When I was healthy?
• 6:27
  Yeah, which is really good.
• 6:29
  Look, I'm obviously not a great case study, but...
• 6:33
  No, but I think you bring up a good point, right?
• 6:34
  Because it's also not tangible.
• 6:36
  We're talking about things that aren't tangible.
• 6:38
  So people can't see the benefit of them straight away.
• 6:40
  And that's what does put a lot of people off.
• 6:43
  Because yeah, you're just paying for something.
• 6:44
  It's coming out of your account, and you have no context as well at school.
• 6:46
  I only recently went to my parents.
• 6:47
  I was like, why don't I just put that money?
• 6:49
  I think it was like, I don't know, $1 a month.
• 6:51
  Why don't I just put that into an account?
• 6:52
  And then if I need it...
• 6:54
  Yeah, you're going to save hundreds of thousands of dollars
• 6:56
  for medical treatment that you might need.
• 6:58
  That the government's not going to cover.
• 7:00
  Yeah, probably not.
• 7:00
  But do you want to save your house to do that?
• 7:02
  And in a rush?
• 7:03
  Like, that's where they're real thing of it is.
• 7:07
  It's kind of like removing the added stress and emotion
• 7:10
  if you've already sorted out insurance.
• 7:11
  Like, have you just been diagnosed with something
• 7:13
  or you've just lost your house to a flood,
• 7:16
  or whatever, or in a fire, whatever it is?
• 7:19
  If you've got insurance, it's almost like that added
• 7:22
  like piece of mind of like, okay,
• 7:23
  well, that's one less thing I have to worry about.
• 7:25
  There's nothing worse than like something happening.
• 7:27
  So my daughter, she is 16.
• 7:29
  She has a way better laptop than I do.
• 7:31
  And she broke the screen.
• 7:33
  Yeah.
• 7:33
  And that's nearly $2,000 like.
• 7:37
  And I was like, oh, I've got insurance.
• 7:38
  So I've just gone through this process.
• 7:39
  She's got a new computer and everything.
• 7:40
  So that cost me $300.
• 7:43
  Excess.
• 7:43
  Done.
• 7:44
  I love it, everyone looks strangely like.
• 7:46
  See, you're going to get it now.
• 7:47
  You're going to get it now.
• 7:48
  No, but there's a thing we are carrying.
• 7:49
  A lot more expensive things now.
• 7:51
  Like our phones are worth over a grand now.
• 7:52
  And more and laptops.
• 7:55
  So even if you get a little bit of cover,
• 7:57
  you're not, you're not looking at it.
• 7:58
  I think for me, it's also like the policy documents.
• 8:01
  I feel if I got insurance on something,
• 8:04
  I wouldn't read the policy document.
• 8:06
  And then I'd be,
• 8:07
  it's great, you know, because something would happen.
• 8:09
  And it's like, no, no, but on this 50 pet,
• 8:11
  oh my gosh, document.
• 8:13
  It's said that you're sort of, yeah, yeah.
• 8:14
  And it's like, oh, come on, really?
• 8:16
  You're going to read that.
• 8:17
  And so when you're comparing insurance companies,
• 8:20
  or which insurance company to go with,
• 8:21
  it's quite overwhelming.
• 8:23
  What you just said,
• 8:24
  remind me of something.
• 8:25
  So when I went traveling,
• 8:26
  I did get travel insurance.
• 8:29
  Which everyone was always surprised by.
• 8:31
  But I did get it.
• 8:32
  And I remember thinking, oh,
• 8:33
  my goodness, never ever ever going to travel without it.
• 8:36
  Because I basically, what happened was I lost my bag.
• 8:38
  It was the middle of winter.
• 8:40
  I was in Europe.
• 8:41
  It was freezing like negative 10 degrees in Berlin.
• 8:45
  And I had no clothes.
• 8:47
  And the policy said we will only give you up to $500.
• 8:52
  And definitely no matter how long it takes
• 8:54
  for that stuff to come back.
• 8:55
  So I was stuck for weeks with nothing.
• 8:58
  And the middle of winter with $500 gets you
• 9:00
  like some thermals in a jumper.
• 9:03
  And if I'd known that, I would have got a different policy.
• 9:06
  But I think it's just the fact that we don't have
• 9:10
  the time or energy,
• 9:11
  or I think it's overly important to sift through the fine print.
• 9:15
  And you also think it's not going to happen to me.
• 9:16
  So I don't need to go through the fine print.
• 9:18
  And it's not two situations like that when you're like,
• 9:20
  oh my god, it's only $500 and you're like,
• 9:22
  damn, I wish I'd read the fine print.
• 9:24
  How do you work in terms of if someone was to come to you
• 9:27
  and say, I need insurance?
• 9:28
  How do you help them to make it less complicated?
• 9:30
  We are independent financial advisors.
• 9:32
  So we basically will provide you advice on your situation
• 9:37
  for insurance suits you.
• 9:38
  How does that look?
• 9:39
  Client will come to us and say,
• 9:40
  hey, I think I need life insurance.
• 9:42
  Or I want to know more about this.
• 9:43
  And we send them through what we call
• 9:44
  our six-step advice process.
• 9:46
  Send them, that sounds very...
• 9:47
  Thank you.
• 9:48
  Thank you so much.
• 9:50
  Send, it's all very digital with us.
• 9:52
  So basically, we will go through a fact-fine process.
• 9:55
  The fact-fine process is learning about you.
• 9:57
  So we want to know what you do for fun.
• 9:59
  We want to know what your finances look like.
• 10:00
  We want to know what your health looks like.
• 10:02
  All of that stuff encompassed into one document
• 10:04
  and we then used that information to go,
• 10:08
  what is the best insurance fit for you?
• 10:10
  Because if you passed away,
• 10:11
  what would you like your partner to have?
• 10:13
  If something happened to you and you weren't here
• 10:15
  for your children, would you like them to have a financial?
• 10:17
  Oh, scenarios are so good.
• 10:19
  They're so powerful because they're like,
• 10:21
  we're sitting with the lawyers and we're like,
• 10:22
  but what if so decides to take half the business
• 10:25
  and we're like,
• 10:26
  or what if so, it's another curve?
• 10:28
  Like, she's just like, oh, God.
• 10:29
  You're just basically going through that.
• 10:31
  And you know, I've been a single mum for,
• 10:33
  even with my daughter, my situation is so different
• 10:36
  to every single person I talk to.
• 10:38
  And my daughter, I have put her through private schooling.
• 10:42
  So for me, my life insurance is set up
• 10:45
  so that she can continue to have their education
• 10:47
  regardless of whether I'm here or not.
• 10:48
  All my family live in Australia.
• 10:50
  So does she want to travel back and forth?
• 10:52
  She doesn't know that now she's 16.
• 10:53
  So I kind of just those provisions for her.
• 10:56
  Whereas somebody else might be like,
• 10:57
  can you pay my mortgage off and make sure
• 10:59
  that my children have a fund for their education
• 11:02
  when they're older?
• 11:03
  So those are the types of things that we talk about.
• 11:05
  And next step is we bring the recommendations.
• 11:07
  Those recommendations will also have pricing in them.
• 11:09
  And then we work together to get that to a comfortable fit.
• 11:11
  If it's like, yep, I'm done, I'm good to go.
• 11:14
  I'm happy with that.
• 11:15
  Then we do it.
• 11:16
  All the client might say, actually, I feel like I would like this.
• 11:19
  Now that I know more about it,
• 11:21
  because you've got some time to think
• 11:22
  in between both situations.
• 11:24
  Or a budget might be a conversation we need to have.
• 11:27
  So we get it to a comfortable spot.
• 11:28
  Will you feel like you're protecting a lifestyle
• 11:31
  that you actually want to live?
• 11:32
  When you say you figure out someone's situation,
• 11:35
  so say me, no dependence, no house, whatever it is,
• 11:39
  all of the things that are a part of who I am
• 11:41
  and what I own and what I want to protect.
• 11:44
  And when you say budget-wise,
• 11:47
  is it basically like picking, choose what is most important?
• 11:50
  So if you can't afford all different types of insurance,
• 11:52
  you can actually just pull things back and say,
• 11:54
  okay, the only thing I'm going to do right now
• 11:56
  is health insurance.
• 11:57
  And when I get a pay rise, I'm going to get income insurance.
• 12:00
  Or is that kind of how it would work?
• 12:02
  Yeah, we will give you the ideal.
• 12:04
  So if insurance was free, this is what you should have.
• 12:07
  But hey, what I always say, what's standing out to you?
• 12:10
  What are you looking at going,
• 12:11
  I don't want to leave that.
• 12:12
  Like, I definitely want that.
• 12:14
  Because that's what all kind of research make
• 12:15
  of that person.
• 12:16
  But yeah, it might be that you take these two things
• 12:18
  and we come back for that later or,
• 12:20
  and that'll be different for you, the person.
• 12:21
  A lot of people, like yourself,
• 12:23
  so if you don't have all that, you know,
• 12:25
  a mortgage, children, all of that stuff,
• 12:27
  we just go, what is most important to you?
• 12:29
  If something went wrong tomorrow,
• 12:30
  what is most important to you to protect
• 12:33
  in a lot of the time, it's your independence.
• 12:36
  You don't have to run home to Mum and Dad
• 12:37
  and be like, hey, can you fix this
• 12:38
  or have to go and live with them again?
• 12:40
  Or something like that.
• 12:41
  So having income protection or having health insurance
• 12:43
  might be top priority
• 12:44
  or having contents insurance,
• 12:45
  so then you don't have to save to buy another laptop
• 12:48
  or phone or...
• 12:49
  Plus, we're always going to review it.
• 12:51
  Every year, we're going to talk about it
• 12:52
  and make sure it still fits.
• 12:53
  Can you explain a bit more about how health insurance,
• 12:56
  life insurance, how does that work?
• 12:57
  And what, like, yeah, so life insurance,
• 13:00
  well, it should really be called death insurance
• 13:01
  because that's when you get it.
• 13:04
  We're not you, we're not you, we're not you, we're not you.
• 13:05
  So now, yeah, I always say it as a bit of an investment
• 13:08
  because unfortunately, we are all going to pass away
• 13:11
  at some point, sort of more when.
• 13:13
  So that will pay a lump sum if you pass away
• 13:15
  to your family or to your parents.
• 13:17
  So whoever's, you know, whoever you want to that
• 13:18
  to go to, basically.
• 13:19
  And do you have to put that in your will?
• 13:21
  Yes, good idea.
• 13:22
  Yeah, okay.
• 13:23
  So it's not just, it's not like I take out life insurance
• 13:25
  and then say, I want to be paid too.
• 13:28
  It's all wrapped in your will.
• 13:30
  There's certain companies and certain policies
• 13:32
  where you could possibly put that in,
• 13:33
  but will is full proof.
• 13:36
  And there's so many rules around wills
• 13:38
  and who can get access to it and stuff like that.
• 13:40
  So obviously we're not lawyers,
• 13:41
  but highly, highly recommend if you have life insurance,
• 13:44
  you do not want everyone in your family
• 13:45
  fighting over your money.
• 13:46
  Does it work based on how much you earn
• 13:48
  or can you pay heaps?
• 13:50
  And then if you die, you get a giant payout,
• 13:52
  like how does that work?
• 13:54
  Like there has to be a purpose for it, I guess.
• 13:57
  I mean, obviously you could go to an insurance company
• 13:59
  and be like, I want a million dollars.
• 14:00
  And for most, for most people, they wouldn't question that.
• 14:03
  But you can't be like, I want five million insurance
• 14:05
  companies going to be like, why?
• 14:06
  Yeah.
• 14:07
  You know, there's a few, let's see,
• 14:09
  if you're earning 70k a year and you have no dependence,
• 14:12
  they'll be like, well, that doesn't sound quite right.
• 14:15
  But the way that we would quantify it as we go,
• 14:17
  okay, well, what specifically do you want?
• 14:19
  And we'll talk three different ideas and scenarios
• 14:21
  and stuff.
• 14:22
  So especially if there's kids involved,
• 14:23
  do you want to give them inheritance?
• 14:25
  If we talk about blended family situations,
• 14:27
  because that's quite common,
• 14:28
  it's making sure everybody's given what they need
• 14:31
  and the house is kept by the other person.
• 14:33
  Like these are all those kinds of things.
• 14:35
  From a person who doesn't have dependence,
• 14:37
  usually it's just, hey, you might want 20 or 50 grand
• 14:40
  to just be like, so my parents can have that
• 14:42
  and they don't have to pay for everything if I pass away.
• 14:45
  I'm covering myself, because honestly,
• 14:47
  that will cost you like two dollars.
• 14:49
  Maybe.
• 14:50
  Well, that's probably the only thing I would think.
• 14:52
  Yeah, honestly, it's super cheap.
• 14:53
  Yeah, but like, it's the cheapest product of the mall.
• 14:56
  So if you get a guard back and what a nice gift.
• 14:58
  Gives you a appearance.
• 14:59
  If I die, I know you'll be sad, but here's.
• 15:01
  Hey!
• 15:02
  I don't know you just raised me my whole life.
• 15:05
  Probably way more than that on me, but hey.
• 15:07
  Also, can you throw me a really big putty?
• 15:09
  Yeah, I want a massive.
• 15:10
  And you have to say only nice things about me.
• 15:12
  Yeah.
• 15:14
  So basically, a life insurance would be low
• 15:17
  if you only wanted a small payout when you died,
• 15:20
  but if you wanted something like 5 million, 10 million,
• 15:23
  whatever, your life insurance would be quite hefty,
• 15:27
  I imagine.
• 15:28
  Yeah, it depends on age and occupation and gender.
• 15:31
  So for me, I'm more expensive for life insurance.
• 15:35
  Because they died for us.
• 15:37
  They died for us.
• 15:38
  But they also never go to the doctor.
• 15:41
  I was like, what?
• 15:41
  Oh, no, that's a good thing.
• 15:42
  Yeah, yeah.
• 15:43
  But that's immediately fucked up.
• 15:46
  What?
• 15:46
  What do you mean they get something more than that?
• 15:48
  No, no, no.
• 15:49
  They're not in the scenario for once.
• 15:50
  No, they, yeah.
• 15:51
  So they die with motor vehicle insurance,
• 15:53
  as well, actually, when you're younger.
• 15:55
  If you're younger, they're more than a younger female,
• 15:57
  because we're better trans.
• 15:58
  Really?
• 15:59
  We are.
• 16:00
  Sorry, they'll say that.
• 16:01
  Yeah, yeah, yeah.
• 16:01
  Yeah, sure.
• 16:02
  Yeah, women, our living covers are more expensive
• 16:04
  because we get sick and do something about it.
• 16:06
  So it's one thing in the world that we get to pay
• 16:09
  less for, not more.
• 16:10
  Yeah, but then we just medical and trauma insurance
• 16:12
  will bump it up for females.
• 16:13
  So, yeah, yeah.
• 16:14
  It helps it like five seconds.
• 16:16
  Yeah.
• 16:17
  And to be fair, I mean, I've had like,
• 16:18
  I want to say about 40 over 40 grams worth of medical
• 16:22
  or health insurance claims, private health insurance funds.
• 16:24
  Yeah, yeah.
• 16:25
  Got a uterus that hates being so.
• 16:26
  I think we both do.
• 16:29
  We both do.
• 16:30
  We both do.
• 16:31
  Yeah, we do.
• 16:32
  I was going to say, can you get them taken out?
• 16:33
  Is that what it is?
• 16:34
  Yeah, I mean, it has streaked me in two ways.
• 16:35
  Yeah, and I'll be getting one in Jane as well.
• 16:37
  But I've just had surgery to like,
• 16:39
  I've got endometriosis.
• 16:40
  So, these have been it.
• 16:41
  So, you guys have matching uteruses.
• 16:42
  Yeah.
• 16:43
  Yeah.
• 16:44
  That would be really easy.
• 16:45
  We had to, like, operation at the same time
• 16:47
  to just share a room because we could just, yeah.
• 16:49
  Yeah.
• 16:50
  Yeah, do you answer that email, babe?
• 16:52
  Yeah.
• 16:53
  Just to see if that comes through.
• 16:54
  Yeah, yeah.
• 16:55
  So, yeah, when you're talking about that,
• 16:57
  so, guys, yeah, less expensive on the living covers.
• 17:01
  So, when we talk about insurance,
• 17:02
  when we say life and living, life insurance is a few parts,
• 17:05
  if you're dead.
• 17:06
  Most people don't care what happens at that point,
• 17:08
  but I mean, I think you care about your family.
• 17:09
  And then my sister and her husband have got it
• 17:11
  so that if either one of them dies,
• 17:13
  the life insurance pays the mortgage.
• 17:15
  Yeah.
• 17:16
  So, then if you've just lost your partner,
• 17:18
  you've got two kids to raise.
• 17:19
  You're not rushing back to work or like, you know.
• 17:22
  Yeah.
• 17:23
  You've got an example as to why it would be so.
• 17:24
  And it's like, you know what, you don't have to worry
• 17:25
  about the mortgage.
• 17:26
  And that's the scenarios we do, yeah,
• 17:28
  97% of the time, to be honest.
• 17:30
  And we obviously see clients via Zoom across New Zealand.
• 17:33
  So, we're, you know, in Auckland,
• 17:34
  the mortgage is, you know, obviously a lot higher.
• 17:37
  So, we're definitely getting over a mill now
• 17:39
  and life insurance is for sure.
• 17:40
  Yeah, when you do scenarios like that,
• 17:41
  and even that really hits home, you're like, okay, yes.
• 17:44
  So, life insurance is what gets paid out when you die
• 17:49
  to who are the you choose for it to go to.
• 17:51
  So, it might be to cover a funeral,
• 17:53
  it might be to cover a mortgage,
• 17:55
  it might be to give your daughter the schooling
• 17:58
  that she, you want her to have or the education or whatever.
• 18:01
  So, would you be comfortable sharing what your situation is?
• 18:05
  So, like, the life insurance that you both pay for,
• 18:08
  where is that going?
• 18:09
  Yeah. So, I, I've got a, I've got a sum
• 18:12
  and that will pay off our mortgage in full.
• 18:14
  It will also mean that I will have,
• 18:16
  my husband will have four years of roughly my salary,
• 18:20
  paid out and funeral and final expenses covered.
• 18:23
  So, it would put him in a pretty good position for a bit
• 18:26
  and I guess just give you that space
• 18:27
  to make those financial decisions
• 18:29
  in time whilst you're grieving and moving through.
• 18:31
  Yeah. It's a good point.
• 18:33
  Yeah. Yeah. What have you got, Rachelle?
• 18:34
  Mine is set up, yeah, basically.
• 18:36
  So, when I go to a private school,
• 18:39
  that's something that like people or public lessons
• 18:41
  that have been like, oh my god,
• 18:43
  but it's just what I've invested in.
• 18:44
  I don't have a home that I invested in my daughter's education.
• 18:47
  So, exactly. So, that is what mine I'm doing.
• 18:49
  Yeah. She doesn't own a home either.
• 18:51
  That was important to her.
• 18:52
  Yeah. I just had a headache.
• 18:54
  I've got plenty of time for all of that.
• 18:55
  So, if that was my kind of thing where else,
• 18:57
  I'm going to give her the best that I can.
• 19:00
  And yeah, she loves it.
• 19:01
  So, that basically will cover,
• 19:03
  when I originally put this in place,
• 19:05
  it would have been a few years ago.
• 19:06
  So, now it would cover full fees for the next couple of years
• 19:10
  because she'll finish a school at the end of next year.
• 19:12
  It would also cover boarding.
• 19:13
  So, that was an additional expense.
• 19:15
  It'll cover the travel back and forth from Perth to here,
• 19:18
  where all of my family are.
• 19:20
  And if she decided she actually wanted
• 19:22
  to just get up and go,
• 19:23
  it would cover the travel cost of going there as well.
• 19:26
  My sister was set up to be her Kira,
• 19:29
  but also received all of my life insurance
• 19:32
  because she would allocate it out for me
• 19:34
  the way that I wanted to.
• 19:35
  And that I've just gone through a bit of a change
• 19:37
  with my partner and I, and my daughter was like,
• 19:39
  can I stay here with Nick, my partner?
• 19:43
  Oh, wow.
• 19:44
  And he was like, yeah, that's cool.
• 19:46
  Oh, that's really special.
• 19:47
  Yeah, they're just very cute together.
• 19:49
  So, yeah, so that's that funeral expenses.
• 19:52
  I'm Māori, living in Christchurch.
• 19:53
  I've got to get my body back up to
• 19:55
  the Naira on the Coromadal Coast, where I would be buried.
• 19:58
  So, you know, there's an expense in that.
• 20:00
  I'm not fine jet-star there.
• 20:01
  Yeah, don't put the jet-star.
• 20:03
  Don't put the casket on jet-star.
• 20:04
  Everyone will be waiting in the funeral
• 20:05
  and be like, no, she's still not here.
• 20:07
  She's still not here.
• 20:08
  She's actually like you.
• 20:09
  She's actually like you.
• 20:11
  Oh, you know.
• 20:12
  Yeah.
• 20:13
  Oh, my goodness.
• 20:14
  Oh, gosh.
• 20:15
  All of those things, it sounds very complicated,
• 20:16
  but that's what it is.
• 20:17
  It's all just put my daughter in a good position.
• 20:18
  I think it's complicated.
• 20:19
  It's special.
• 20:20
  Yeah.
• 20:21
  Yeah.
• 20:22
  I love hearing that.
• 20:23
  It's so cool to hear, because I think,
• 20:24
  I honestly, life insurance was one of those things
• 20:26
  that I just heard in shooting blinks.
• 20:28
  No idea what that meant.
• 20:30
  But it totally makes sense.
• 20:32
  It's basically protection for the people around you
• 20:34
  so that they can continue living the life
• 20:36
  that you were living before you were there.
• 20:38
  So, we've covered life insurance.
• 20:39
  What about mortgage insurance and income insurance?
• 20:42
  I mean, health insurance, I think, is reasonably self-explanatory.
• 20:45
  Most people know you have health insurance
• 20:47
  if you want it to pay for any kinds of treatments
• 20:50
  if you need them, right?
• 20:51
  Yeah.
• 20:52
  So, private health care fast tracks use
• 20:53
  through the private system.
• 20:54
  So, it will mean that you can get treatment faster
• 20:56
  so therefore you can recover faster.
• 20:58
  And they're actually quite big things now with weightless
• 21:00
  among CDHBs, district health boards.
• 21:03
  So, that's a good point to remember.
• 21:05
  One little thing about private hospitals
• 21:08
  is it's like a hotel with nurses.
• 21:10
  And like, I literally, the last time I went out,
• 21:12
  was that me here to check in?
• 21:13
  Yeah.
• 21:15
  And I was like, I mean...
• 21:16
  Where's my rug?
• 21:17
  Where's my rug?
• 21:18
  Where's my rug?
• 21:19
  But they're just super lovely.
• 21:20
  The food is amazing.
• 21:21
  And they cater to...
• 21:23
  I've got, like, a dairy and a gluten intolerance.
• 21:25
  So, they cater to all the things.
• 21:26
  Yeah.
• 21:27
  We can eat our own rug.
• 21:28
  Yeah.
• 21:29
  It's just a nicer experience.
• 21:30
  And so, you get that by paying for private health insurance.
• 21:32
  Private health insurance.
• 21:33
  Yeah.
• 21:34
  Gotcha.
• 21:35
  So, you're essentially just not relying on the public system.
• 21:36
  If anything happens, whether it be a broken leg
• 21:38
  or you got forbid get cancer or a horrible degenerative disease,
• 21:44
  it's all of that stuff.
• 21:45
  If you're already paying for health insurance,
• 21:46
  well, not all of it.
• 21:47
  I guess it's read the fine print, right?
• 21:49
  Yeah.
• 21:50
  I think it's like elective surgery, right?
• 21:51
  So, say...
• 21:52
  Say it's not an emergency.
• 21:53
  Emergency, the public health system is real good with.
• 21:56
  Non-emergencies.
• 21:57
  They might take a little bit longer.
• 21:58
  So, it just means if you go to the doctor,
• 22:00
  like me with my endometriosis.
• 22:01
  So, I went to my GP.
• 22:02
  He was like, hey, I'm sorry,
• 22:03
  but we've got to jump through all these hopes.
• 22:04
  I was like, hey, hey, I've got private health insurance.
• 22:06
  I just told you what I did.
• 22:08
  And he was just like, all right.
• 22:09
  And it was just a straight-through referral.
• 22:11
  There were no hopes to jump through.
• 22:12
  So, I think for women,
• 22:13
  it's not a matter of if you'll use it.
• 22:15
  It's just wean.
• 22:16
  Yeah.
• 22:17
  Because it's like maternity issues
• 22:18
  and like complications related to labor and birth,
• 22:21
  and like all that included, or is it?
• 22:23
  No.
• 22:24
  So, all that stuff is genuinely publicly funded.
• 22:26
  So, it's usually stuff that's not...
• 22:27
  Got you.
• 22:28
  Yeah, I mean, there's just so many things that can go wrong
• 22:30
  in their general area.
• 22:31
  So, children's private health insurance is super cheap.
• 22:35
  But if you claim on it, you know,
• 22:37
  you're talking like three to four grand of minimum for a surgery.
• 22:40
  So, you're talking, you know...
• 22:41
  For grommets, adnoids, tonsils.
• 22:43
  Oh, my goodness.
• 22:44
  That's a 70% of children say need.
• 22:47
  That is like game changer.
• 22:50
  What else is there?
• 22:51
  Okay, so...
• 22:52
  And again, mortgage and income protection.
• 22:54
  Yeah.
• 22:55
  So, a lot of the time people will separate the two and say
• 22:57
  mortgage protection or income protection.
• 22:58
  They basically do the same thing.
• 23:00
  They're giving you a monthly amount to cover your...
• 23:02
  Basically, cover your income or your highest expenses.
• 23:05
  If you can't work due to illness or injury,
• 23:08
  they will cover you where ACC does not.
• 23:11
  So, health insurance covers the health side of things.
• 23:14
  The medical expenses?
• 23:15
  Yes.
• 23:16
  But you...
• 23:17
  If you couldn't work because of your health...
• 23:19
  Yeah, so say you got six weeks of recovery time after a surgery.
• 23:23
  Do you have six weeks of holiday leave or, you know, sick leave?
• 23:27
  Probably not.
• 23:30
  R&P insurance, Michelle and Philly.
• 23:33
  Specializing insurance and a super passionate about making it a fun and easy conversation.
• 23:38
  The first step is to understand all the different insurance products.
• 23:41
  So, those are things like life insurance, trauma insurance, mortgage protection,
• 23:45
  that kind of thing, which hopefully will make much more sense after you've listened to this episode.
• 23:50
  And then the second step is to decide what kind of cover you would like to go for, if any.
• 23:54
  And I must say, as someone who didn't have current insurance until recently,
• 23:58
  talking and learning from them has made the whole thing just much less scary.
• 24:01
  So, if you would like to talk to them, you can head to r&pinsurance.co.nz
• 24:06
  or you can head to the Instagram at r&pinsurance.
• 24:11
  You know, I've seen people that have done needs and been out of work for eight to 12 months.
• 24:15
  So, you'd then be paid a monthly amount each month that you're out of work until you return.
• 24:21
  Really cool part of it is as well as that if you've got long-term cover.
• 24:25
  If you could never work again, you'd be paid to that till retirement age.
• 24:29
  Are you basically saying that you could get paid until retirement?
• 24:33
  What if a lump sum you've agreed on?
• 24:36
  Like in, that would be based on how much you're paying for that insurance, right?
• 24:39
  So, it could be full, it could be half, it could be.
• 24:42
  It would be based on what you earn.
• 24:44
  Yeah, the net percentage.
• 24:45
  Yeah.
• 24:46
  And it's never that it's never 100% of what you used to earn.
• 24:48
  Otherwise, no, whatever you go back to work, right?
• 24:50
  So, but there's no incentives there.
• 24:52
  The next you could get 75%, most people are a bit lower than that,
• 24:56
  but it's enough to cover expenses long-term.
• 24:58
  It's incredible.
• 24:59
  Imagine how good that would, I mean, it would suck if you had time off work,
• 25:03
  but quite incredible to think.
• 25:05
  Because I've got a friend, a flatmate who broke her neck a year ago,
• 25:09
  and she's had to have ACC because she can't work properly,
• 25:13
  but it's not a full, it's like, you know, only 20 hours a week.
• 25:16
  It doesn't exactly cover.
• 25:18
  So, in that situation, if she had had income protection,
• 25:22
  she could have had, I don't know, maybe had a bit more.
• 25:25
  And so, mortgage protection is effectively what the name suggests.
• 25:29
  Yeah.
• 25:30
  Well, it's basically, it's just a name we gave it in the industry
• 25:34
  and all it really means is covering your biggest expense.
• 25:38
  You do not have to have a mortgage, to have mortgage protection.
• 25:41
  Also, you wouldn't get one or the other.
• 25:43
  I mean, you wouldn't get both if you get one or the other.
• 25:45
  I make sure both can get both.
• 25:46
  So, mortgage protection just will pay out to an amount each.
• 25:53
  So, it'll pay out if you're sick or if you're if you're if you've had an accident or you're sick.
• 25:58
  Yeah.
• 25:59
  To cover your mortgage.
• 26:00
  To cover mortgage payments.
• 26:01
  Whatever you want.
• 26:02
  Whatever your biggest expense.
• 26:03
  Yeah. So, I think if we take away that it's mortgage protection,
• 26:06
  they're both income protection.
• 26:07
  Yeah.
• 26:08
  It's just one of them isn't going to be affected by any payments you've received from ACC.
• 26:11
  So, essentially, you're going to receive all of that money.
• 26:14
  But if you're if you're ill, you're also going to get your income protection.
• 26:19
  If you're, you know, had an accident,
• 26:21
  you're not going to get your income protection.
• 26:23
  But you're always going to get your mortgage protection.
• 26:25
  So, why are we going to get income protection?
• 26:27
  And not when they just get.
• 26:28
  Because you're restricted on how much we've restricted on how much we can ensure
• 26:31
  and mortgage protection, mortgage protection.
• 26:33
  So, generally up to 45% of your income can sit under that.
• 26:36
  And what it means is, hey, say I like insured you for $4,000 a month under mortgage protection
• 26:41
  and you had $2,000 a month under income protection.
• 26:45
  And then you had an accident.
• 26:47
  So, you'd receive 80% of your income from ACC as a payment and your mortgage protection.
• 26:54
  That's a lot of money.
• 26:55
  Because it's 80% plus the foreground.
• 26:57
  But you might have lost the to.
• 26:59
  But you won't get this to over here.
• 27:00
  You're going to be in a position from ACC.
• 27:02
  Yeah, you won't get this to over here because you're receiving from ACC.
• 27:06
  So, ACC overrides your income protection effectively.
• 27:09
  Just deletes it.
• 27:10
  Yeah.
• 27:11
  But you can get the mortgage.
• 27:12
  But if you aren't getting ACC, so it's an illness, so you wasn't an accident,
• 27:15
  you're your foreground mortgage protection and you're $2,000 in income protection because you're ill.
• 27:19
  But you're not going to get an ACC.
• 27:21
  So, it's just essentially three different ways of income protection working together.
• 27:25
  And us's advisors will give you the best scenario, which is generally going to be the more mortgage protection product, the better.
• 27:32
  Because you're more likely to get it when you're going to get it in both claims scenarios.
• 27:36
  And the thing with that is as well is that there are other insurances like total impermanent disability,
• 27:41
  which is a lump sum or trauma insurance, which is also a lump sum.
• 27:44
  So, total impermanent disability means you could never work in your role ever again.
• 27:48
  Or trauma insurance and often decided that is like your cancer stroke's heart attacks.
• 27:53
  So, like a serious illness happens.
• 27:55
  And these are lump sums that would pay.
• 27:57
  So, say, I've got a client whose dad has been out of work for about six years due to cancer
• 28:02
  and he's continuing getting treatment.
• 28:04
  So, he would receive the income protection, but also would have received the lump sum trauma,
• 28:08
  which then kind of just tops that up and they just work together as a team.
• 28:12
  Health insurance comes in and pays for those non-farm acts or non-government funded medications.
• 28:17
  And we're just in a space where I don't have to worry about money or treatment.
• 28:21
  I can just focus on getting better.
• 28:23
  That's what's got about it. That's what gives people the feel.
• 28:26
  Oh, yeah.
• 28:27
  Honestly, like I want all the insurances.
• 28:29
  Yes, I'm so glad I have it.
• 28:33
  So, sorry, what one would you get?
• 28:36
  What of all the insurances do you think you would miss?
• 28:39
  I would get both of them because if I got ill, but it wasn't an accident,
• 28:44
  then I'd only get my mortgage, but I would have anything else left over.
• 28:48
  So, you get income and mortgage.
• 28:50
  So, you get income as well, yeah.
• 28:51
  So, you'd get health income, mortgage, contents, pet, vehicle,
• 28:57
  life, holy moly, and life.
• 28:59
  So, sweet little package.
• 29:01
  That's a lot of insurance.
• 29:03
  That's a lot of insurance.
• 29:04
  They all do different things as a problem.
• 29:06
  Have you seen a lot of people cut back on insurance recently just, you know,
• 29:10
  have had mortgage rates go up with kind of inflation?
• 29:13
  No, if any, think it might be in those excess conversations in the house space
• 29:17
  because that's an easy sort of thing that's changed.
• 29:20
  And I think that's something that we do really well at the time of speaking with the clients
• 29:24
  and making sure that when we're applying for cover that it is really affordable
• 29:27
  and it does fit their budget and it's realistic so that they understand how it works.
• 29:32
  Yeah.
• 29:33
  We pre-worn them that it's going to go up every year.
• 29:35
  We give them estimates, we give them projections,
• 29:38
  but also, like, you're putting insurance in place for a long-term view.
• 29:41
  If we're putting insurance in place for a 30-year-old,
• 29:43
  we could have been ensuring them for 30 years or more.
• 29:46
  It's a long time and it's a long and tense relationship.
• 29:49
  So, we're always going to review that with you.
• 29:51
  But generally, and we would like everybody to know that insurance
• 29:54
  is a normal standard household expense like buying food.
• 29:58
  I know you need to eat an insurance, you don't need to eat it.
• 30:01
  But if we could get it there, it feels less intense.
• 30:05
  It's just a part of it and eventually you will reduce it like,
• 30:08
  I don't know.
• 30:09
  I used to smoke and I gave it up.
• 30:11
  And in a couple of months' time, my insurance is going to reduce to half
• 30:14
  because of that.
• 30:15
  Oh, wow.
• 30:16
  And I'd like, even on myself, I'm like, what am I doing with that money?
• 30:19
  So, don't smoke kids.
• 30:20
  Yeah.
• 30:21
  Don't recommend it.
• 30:22
  Don't recommend it.
• 30:23
  It's very normal.
• 30:24
  And that's the one takeaway from this woman.
• 30:25
  Do you have any horror stories of people who,
• 30:28
  yeah, either maybe didn't get insurance
• 30:30
  and then had a bit of a blowout?
• 30:32
  I had actually had one instance that I could think of off the top
• 30:34
  of my head where a client came to me
• 30:37
  and had been meeting to get in touch for like three months
• 30:40
  and her husband had a heart attack in the meantime.
• 30:43
  And he's okay.
• 30:45
  But it has made a massive difference to the day to day.
• 30:49
  And if that had insurance,
• 30:51
  was that of a different kind of crying on the phone
• 30:54
  because I was like, oh, I can't help this person.
• 30:56
  It's too late.
• 30:57
  It's too late.
• 30:58
  It's too late for insurance.
• 30:59
  You've got to get it before you need it, right?
• 31:01
  And even like health insurance, any single thing that has happened to you
• 31:06
  in the past will be excluded when you take it out.
• 31:08
  Unless you have a specific corporate policy
• 31:11
  that covers pre-existings.
• 31:12
  And think, oh, I have that.
• 31:14
  There's nothing worse than having to say,
• 31:16
  notice somebody for that.
• 31:18
  What is the most interesting type of insurance
• 31:21
  that you've come across?
• 31:22
  Like, can you insure Heidi Klum insures her legs?
• 31:26
  And then the other day I lost my voice
• 31:28
  and someone was like, you need to insure your voice
• 31:31
  because you can't make money if you can't speak.
• 31:33
  And I was like, oh my gosh.
• 31:34
  It's such an American thing.
• 31:36
  But it made me think I was like, oh my gosh,
• 31:38
  is there actually insurance for that kind of stuff?
• 31:40
  Like, I guess genuinely, I think if it stops you working
• 31:43
  and a doctor says that it's specifically related to that,
• 31:47
  then I mean, like income protection is going to kick in
• 31:49
  like those types of things come into it.
• 31:51
  But one that's been quite big for us, I think,
• 31:54
  or not big, but really interesting and client's love
• 31:57
  is like specific or accidental injury.
• 32:00
  So it's like a couple of dollars a week, Phil.
• 32:02
  So what it will do is you don't have to be off work
• 32:06
  and you can be getting ACC, but it will basically pay out
• 32:09
  a few fracture part of your body that needs immobilisation
• 32:12
  so that includes fingers that need to be immobilised
• 32:15
  or it might be you fracture your foot and you're in a moon boot
• 32:18
  or you fracture your arm and you're in a sling,
• 32:20
  you'd get a sum of $10,000.
• 32:23
  Yeah.
• 32:24
  So let's see, insure it at top and chill.
• 32:26
  I've had right now on purpose.
• 32:27
  I've had people like look at their fingers before,
• 32:30
  always like talk about it.
• 32:32
  But it has like four client's fame on it.
• 32:35
  Oh my god, I had a friend at university
• 32:37
  and she was like, did Sarah?
• 32:38
  She's like, can you slam my finger in the door?
• 32:40
  Yes, I can't.
• 32:41
  I can't go into this exam because I haven't studied.
• 32:44
  And I remember standing there and we were about to do it
• 32:46
  and I was just like, what?
• 32:48
  I was just moment of realization.
• 32:50
  I was like, I'm about to break my friend's finger
• 32:52
  and I was just like, just get out of the exam.
• 32:54
  She was begging me.
• 32:55
  She was like, please.
• 32:56
  I had a friend at school.
• 32:58
  She was like wanting to avoid an exam.
• 33:00
  And she was running into a trade or a slam roll.
• 33:03
  She was like, that's not going to work.
• 33:07
  It's funny because you think the exams are like the,
• 33:10
  like, you know, if you fail the exam,
• 33:12
  it's the world.
• 33:13
  And it's like, you know what?
• 33:14
  You'll be fine.
• 33:15
  Yes.
• 33:16
  So if someone was one take listening to this podcast
• 33:18
  and thinking, yeah, shut up.
• 33:20
  I'm like, someone was?
• 33:21
  I'm not a friend.
• 33:23
  This is what I'm there for.
• 33:24
  So I was asking for a friend.
• 33:26
  What is the best?
• 33:28
  Do you deal with clients one on one?
• 33:30
  Because I think there's probably a bit of misconception
• 33:32
  that people need to do all the research first,
• 33:35
  figure out what they need, what the different options are,
• 33:38
  blah, blah, blah.
• 33:39
  That is essentially what people can come to you for, right?
• 33:41
  Absolutely.
• 33:42
  Yeah.
• 33:43
  And we are fully flexible.
• 33:44
  We use them for 99% of our meetings.
• 33:47
  So we have clients from Bluff.
• 33:49
  Everywhere.
• 33:50
  All over New Zealand.
• 33:51
  Yeah.
• 33:52
  So we can do that.
• 33:53
  And it's, you know, we're accessible.
• 33:55
  We can work around you in terms of times and things like that.
• 33:57
  But we do all that.
• 33:58
  Come to us and we can help you.
• 34:00
  So if you want to know more and you want to get to know us,
• 34:02
  you can follow us on social media.
• 34:03
  We do share a lot.
• 34:04
  Oh, yeah.
• 34:05
  What is your social media?
• 34:06
  That's a good thing to share.
• 34:07
  Um, head of social media.
• 34:09
  Head of social media.
• 34:11
  So it's at our end P insurance.
• 34:13
  So that's our ANDP insurance.
• 34:16
  If you jump on there, just stalk us for a bit.
• 34:18
  If that makes, you know, you feel better.
• 34:20
  Yeah.
• 34:21
  You can even like, there's no obligation.
• 34:22
  There's no, there's none of that stuff.
• 34:24
  And if you just go, hey, this is all I can do.
• 34:26
  This is all I want to do.
• 34:27
  Then that's also fine.
• 34:28
  We're not here to, you know, push anything.
• 34:30
  Because you wouldn't be made.
• 34:31
  You would be selling the products for the same price
• 34:33
  as if they were to go direct.
• 34:34
  Is that how it works?
• 34:35
  Pretty much.
• 34:36
  But also there's a lot of specialty or specialist products
• 34:39
  that you actually can't access without having an advisor.
• 34:41
  And they are the best on the market.
• 34:43
  And the reason for that is because we're giving financial advice.
• 34:46
  They are so comprehensive and so good.
• 34:49
  But also the pricing is genuinely better than if you jumped on the internet
• 34:52
  or went with, dare I say, at your bank,
• 34:54
  you just, yeah.
• 34:56
  And if you cover it's not right for you,
• 34:58
  then it's not worth paying for, really.
• 35:01
  Like if it's not going to be there at client time,
• 35:02
  it really doesn't matter who did it or how it was done
• 35:04
  or what you're paying for it.
• 35:05
  And I guess that's where word of mouth would come in, right?
• 35:07
  Because if you've done someone's income or life
• 35:10
  or any kind of insurance, and then they came to claim
• 35:14
  and they were like, fill the shell.
• 35:16
  Yeah.
• 35:17
  Why the hell can't I, you know?
• 35:18
  I mean, that would come back and bite you in the bum.
• 35:20
  We literally had that yesterday.
• 35:22
  We are situational to client and having an advisor approved very, very helpful and valuable.
• 35:29
  A client child was going in for an operation.
• 35:31
  So came through for pre-approval.
• 35:33
  Unfortunately, there was just some information in the GP notes
• 35:36
  that was pre-existing to before they did the application.
• 35:39
  So I meant that they wouldn't be eligible for a claim.
• 35:42
  But with a little bit of work between myself and the insurance company,
• 35:46
  there was a couple of other things that were going to be done in the operation.
• 35:49
  So we ended up covering those two things.
• 35:51
  Which ended up being 95% of the operation.
• 35:54
  Which was a really good outcome.
• 35:56
  And one that I know, if they didn't have an advisor, would not have happened.
• 35:59
  Yeah.
• 36:00
  Yeah.
• 36:01
  Yeah.
• 36:02
  We advocate really, really hard.
• 36:03
  It takes over our whole, like, we are emotionally hard.
• 36:06
  That was my whole day.
• 36:07
  It was a whole day.
• 36:08
  She's so stoked.
• 36:09
  She's messaging me.
• 36:10
  She's, you know, Philly was in school holidays as well.
• 36:12
  But I mean, we're very flexible in the way that we work.
• 36:14
  But, you know, we are very emotionally invested for our clients
• 36:18
  and we, like I said, it's all we found out.
• 36:21
  We don't educating people and educating our clients
• 36:24
  is a really big deal to us.
• 36:26
  And especially in the Mardy and Pacifica community.
• 36:28
  We need insurance.
• 36:29
  It's just not as accessible as it should be.
• 36:31
  I love that.
• 36:32
  Yeah.
• 36:33
  So when can I book an appointment?
• 36:35
  To that.
• 36:36
  Please do.
• 36:37
  Please do.
• 36:38
  Okay.
• 36:39
  So basically, if there's people listening and they don't have a whole lot of money
• 36:42
  or they're worried that they're not going to be able to afford it,
• 36:44
  it's the best thing to do just to come and have a conversation.
• 36:47
  Yeah.
• 36:48
  I think going through the process will be really valuable for you
• 36:50
  because you can see exactly what you need for your situation.
• 36:53
  And then you can make the decision.
• 36:54
  There's no judgment.
• 36:55
  There's no pressure.
• 36:56
  You just decide and come to us when you're ready.
• 36:58
  Our thing is insurance is plan B.
• 37:01
  So it's the backup plan.
• 37:03
  It is not the plan.
• 37:04
  So, you know, you don't want to claim on your insurance
• 37:07
  because if you are, it's very bit of sweet, right?
• 37:09
  Something's gone wrong.
• 37:10
  We want our clients to live their best lives
• 37:13
  in a healthy, holistic way.
• 37:17
  And we encourage them to do that.
• 37:19
  So we share a lot of what we do in fitness and health
• 37:22
  and through our social media channels
• 37:25
  and encourage that people to get out there and look after themselves
• 37:28
  and making sure that, yeah,
• 37:30
  they're at least likely to claim on their insurance.
• 37:32
  It's plan B, right?
• 37:33
  Plan B.
• 37:34
  Plan B.
• 37:35
  And we'll put together a really well-weigh.
• 37:37
  I love that I'm trying to claim it.
• 37:39
  You've put together a really cool little package
• 37:41
  that is kind of trying to reiterate that idea,
• 37:45
  that it's plan B not plan A.
• 37:47
  So it's a wellness.
• 37:48
  I'm actually...
• 37:50
  May I have forgotten my notes in terms of what's in the prize?
• 37:53
  But all the details are in our show notes.
• 37:55
  So if you would like to have a look and enter
• 37:57
  and get in touch with Philly and Rochelle,
• 37:59
  then we're going to put all of their details in the show notes.
• 38:02
  And if nobody got it, R and P insurance.
• 38:05
  Yeah, risk and protect.
• 38:07
  Risk and protect.
• 38:08
  Yeah, down Philly.
• 38:09
  Yeah.
• 38:10
  Yeah, there's like this.
• 38:11
  Joule meaning, eight meaning.
• 38:12
  Joule meaning, eight meaning.
• 38:13
  We'll quit note as well.
• 38:14
  R for risk.
• 38:15
  I take all the risks.
• 38:16
  Philly protect.
• 38:17
  Yeah.
• 38:18
  You guys love that.
• 38:19
  We need to change our branding.
• 38:21
  I don't need to be.
• 38:22
  Curves.
• 38:23
  Curves.
• 38:24
  Curves.
• 38:25
  You are not in charge of branding.
• 38:30
  Thank you so much for listening to Raising the Curve.
• 38:33
  These conversations are designed to teach you everything
• 38:36
  that you need to know to be better with your money.
• 38:38
  From saving, to investing, to talking to your friends
• 38:41
  about your salaries.
• 38:42
  And if you liked what you heard, we would love it.
• 38:44
  If you could hit subscribe button, please.
• 38:46
  Yes, please.
• 38:47
  Or, leave a review.
• 38:49
  It all takes five seconds.
• 38:51
  And it would really make our week.
• 38:52
  Oh yeah.
• 38:53
  Our month.
• 38:54
  Okay.
• 38:55
  Lots of love. See you soon.
• 38:56
  Bye.
• 39:06
  Bye.
• 39:07
  Bye.
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  Bye.
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  Bye.
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• 40:03
  Bye.