Personal Insurance

Personal insurance services provide tailored advice and support to help individuals and business owners protect themselves financially against unforeseen events. These services include guidance on selecting appropriate insurance types, structuring policies for tax efficiency, and ensuring coverage aligns with personal and business goals.
 

RSM New Zealand offers a consultative approach to insurance, helping clients navigate the complexities of the market and make informed decisions.
 

Insurance is a financial safety net that protects you and your family from unexpected events such as illness, injury, or death. Done correctly, personal insurance can:

• Safeguard your income
• Cover medical and living expenses
• Protect your business continuity
• Provide peace of mind

RSM’s personal insurance services help ensure your coverage is appropriate, effective, and aligned with your financial situation.

There are several types of personal insurance, each designed to cover specific risks:

• Life insurance – Provides a lump sum to beneficiaries upon death
• Income protection – Replaces lost income due to illness or injury
• Trauma cover – Pays a benefit upon diagnosis of a serious illness
• Total and permanent disability (TPD) – Covers permanent inability to work
• Key person insurance – Protects businesses from the loss of a critical team member
• Business expense insurance – Covers fixed business costs during illness
• Buy/sell agreement insurance – Funds ownership transfers in business partnerships

RSM’s personal insurance services help you choose the right mix of cover based on your needs.

Many people assume insurers won’t pay out claims, but most disputes arise from misunderstandings or inadequate coverage. Professional advice ensures:

• Proper medical underwriting
• Accurate policy selection
• Clear understanding of terms and conditions
• Increased likelihood of successful claims

RSM’s advisers help you avoid common pitfalls and structure your insurance for maximum benefit.

RSM provides personalised insurance advice by:

• Reviewing your current insurance position
• Assessing loans, debts, and lifestyle needs
• Considering education costs and family goals
• Evaluating business risks and succession plans
• Aligning insurance with superannuation and wealth strategies

Our team also helps identify insurers with strong claims histories and ensures your policy is structured to support successful claims.

Key person insurance protects a business from financial loss due to the death or disability of a critical employee or owner. It helps cover:

• Lost revenue
• Recruitment costs
• Business continuity

RSM’s personal insurance services include key person cover tailored to your business structure.

This insurance funds the transfer of ownership in a business partnership if one partner dies or becomes disabled. It ensures:

• Smooth transition of ownership
• Fair compensation for the affected party
• Business stability

RSM helps structure these policies to align with legal agreements and tax considerations.

Yes. With the right advice, insurance premiums and benefits can be structured to minimise tax and maximise value. RSM’s personal insurance services include tax-effective strategies for both individuals and businesses.

Key considerations include:

• Your income and debt levels
• Family and lifestyle needs
• Business obligations
• Long-term financial goals
• Existing superannuation and investments

RSM helps you weigh these factors and select policies that offer comprehensive protection.

Contact RSM New Zealand for a consultation. Our experienced advisers will assess your needs, review your current coverage, and recommend a personalised insurance strategy to protect your future.