Josh Hoskin Smart Money jhoskin@goldridge.co.nz

Do you really think that comparing one insurance quote with another gives you the whole picture? The reality is that two quotes from different advisers or providers can be very different and that is why sometimes you might be comparing an apple with an orange, or possibly in the worst case scenario, an elephant.

Knowing the detail in the quote can help a lot. Life insurance quotes could differ if premiums are quoted for just a one-year term or for a level term policy where premiums can stay the same over a longer period. The insurance company may have a special on in the first year but make up for it during the next nine years. Trauma insurance and total and permanent disablement might be accelerated rather than stand-alone. The benefit period on your income protection might be one or two years rather than to age 65; and the wait period might be six months as well.

This does not start to go into the claims payment history or the quality of the product at all. How much value do you place on having an adviser to help you through the claim process rather than another 0800 number? None of these options are outright wrong, by the way, it's just you need to aware of the difference because it effects the price.

If you want someone to help with this confusing jargon, and to increase your chances of ending up with something that will be useful when required, talk to your adviser today.