COVID -19 .... Progress
Welcome to the new norm! As I write this, we’re on Alert Level 2 with the ability to have gatherings of up to 100 in a couple of days. Freedom! A word that I suggest has new meaning after the last few weeks. Something, as with many things, we took for granted. However, I hasten to add, that we chose to give up our freedom in the best interest of our country, our people and most importantly our family. All the right reasons.
But now, we have to face and deal with a new challenge, that of our economy. Here at PPNZL, and personally, we have made a very firm decision to spend our money locally. Here in Rangiora. We are very firmly dedicated to support local business. If we don’t need to go to the “big smoke” then we won’t. I encourage all of you to think the same. Shop local, save jobs.
We might well now be close to normal, but not everything will be as it was. Our overseas holiday to somewhere warm and tropical just isn’t going to happen this year. And, maybe not even next year. Some things will take a long time to come back. However, this experience has educated us in that we have learnt new words and a new meaning to old words.
Before the 2010 Earthquake no one knew the meaning of the word “liquefaction”. We do now! We also learnt the importance of good and appropriate insurance. In this experience we’ve learn what Covid 19 is, what Coronavirus is, what a pandemic is, just to mention a few. Another terminology we’ve heard time and time again, and, we now better understand because we’ve experienced it, is “risk management”. Identifying a risk and then setting a course to minimize the effects of that risk. There’s another term we heard time and time again, “stay the course”!!! I must admit that last one I’m now a little tired of hearing.
Insurance, any insurance, forms part of a risk management plan. While being in lockdown many us, including here at PPNZL, were unable to work. Either completely unable or certainly very restricted. During that time many of us were granted a financial government subsidy to help offset the financial implication of the not being sable to work. I mentioned in my last column that your income protection insurance does not cover this situation as it is implemented by government intervention. Your income protection and/or disability insurance pay out when you’re unable to work due to a physical or mental health issue.
And so, consider the financial risk if you were unable to work for the same period or longer than the lockdown without any financial support. No government subsidy, no ACC, and minimal support in the form of a sickness benefit. Is this a risk? I suggest it is and is a very real risk. Do you have a plan to manage that risk? That question I can’t answer. Only you can. What’s your plan?
At PPNZL we’re here to help with that. Not just in advising on the insurance policy, but more about what policy best suits your plan, your circumstances. We’re here to help with the specifics that are needed to support your risk management course for financial support while you’re unable to work. If you’re in business or self-employed, then you’re needs will be much different then those that are employed.
If you’re in a position where you need a risk management plan, or your plan needs updating then give us a call.
After-all, it’s what we do!!
Hank Van Keulen
EMAIL: admin@ppnzl.co.nz
Ph: 021 357 062