Christchurch Insurance Centre, Superannuation, Retirement Planning, New Zealand

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AUTUMN NEWSLETTER

 

Welcome to our first newsletter for 2013

In this edition we discuss:

·        KiwiSaver at a glance

 ·        KiwiSaver's first-home deposit subsidy

 ·        Fidelity Life – Upgrade to your policy

 ·        Momentum Mortgages

 ·        Tower on-line

KIWISAVER – At a glance

KiwiSaver is available to anyone entitled to live in New Zealand indefinitely who is under the age of 65 and has an IRD number.

·        There are some exceptions.
·        Your funds in KiwiSaver are locked in until the age of eligibility for New Zealand Superannuation (currently 65), or for a period of 5 years whichever is longer.
·        Early withdrawal may be possible in the event of serious illness, permanent emigration or significant financial hardship, or for first-time home buyers.
·        You can only participate in KiwiSaver via a registered KiwiSaver provider.
·        There is a range of investment choices reflecting the level of risk appropriate for you.

Please contact one of our Authorised Financial Advisers if you require financial advice on (03) 379 6847 or e-mail us on admin@supernz.co.nz and we will have an adviser contact you.

Fidelity KiwiSaver Scheme Investment Returns
For the Period Ended 28 February 2013
Fund	Inception Date	Fund Size ($m)	Unit Price	Month	Quarter	Six Months	One Year	Two Years (p.a.)	Three Years (p.a.)	Five Years (p.a.)
CapGuarantee	May - 08	32.90	2.490107	0.68%	1.46%	3.32%	6.50%	4.57%	4.69%	n.a.
Conservative	Oct - 07	41.80	6.712410	1.13%	2.24%	5.26%	10.26%	6.23%	6.42%	5.81%
Balanced	Oct - 07	93.72	6.528304	1.36%	3.86%	7.37%	12.26%	5.01%	5.82%	5.37%
Ethical	May - 08	8.94	2.444849	0.24%	3.91%	6.84%	12.09%	5.60%	6.39%	n.a.
Growth	Oct - 07	41.45	6.206159	1.64%	5.22%	8.96%	13.78%	4.34%	5.71%	4.08%
Aggressive	Oct - 07	15.51	3.116381	1.89%	5.82%	10.08%	14.54%	3.31%	5.36%	4.93%
Options	Oct - 07	62.86	4.696983	1.86%	2.71%	7.92%	12.62%	4.45%	5.43%	9.41%
The returns shown are net of investment management fees, fund management fees, performance fees paid to external fund managers (if applicable) and expenses. The returns shown do not allow for charges to individual accounts (administration fees and switching fees) or tax.

 KIWISAVER – First home deposit subsidy

DID YOU KNOW:

You can apply for the deposit subsidy if you have belonged and contributed to a KiwiSaver scheme, complying fund or exempt employer scheme for at least three years.

The subsidy is $1,000 for each year of contribution to the scheme.  Minimum being $3,000, maximum being $5,000.

The deposit subsidy can help you but a home, land to build a house on, or buy an apartment that is being built.  It cannot be used for purchase of investment property.

You do not need to make consecutive contributions.  So, if you take a six month contribution holiday, you will be eligible after three and a half years (the length of your holiday is added to the minimum three years of contribution)

Individuals who are eligible can combine deposit subsides towards a joint purchase.  Buying a house with someone who is not eligible for the deposit subsidy will not affect your eligibility, unless combined incomes exceed the income caps.

Should you wish to know more about first-home deposit subsidies please contact us on (03) 379 6847 or e-mail admin@supernz.co.nz

 

MOMENTUM MORTGAGES

Momentum Mortgages specialises in providing a market leading re-financing and smart debt reduction solution that is second to none.
Over the past six months Momentum Mortgages and Christchurch Insurance Centre have built on a relationship to provide expert mortgage advice and insurance advice to each other's clients.

Nick Dowling, Momentum Mortgages' Managing Director, said the relationship is crucial for our clients in the Christchurch market. We need to provide our clients' access to the best insurance and risk advice and in return we have delivered Christchurch Insurance Centre's clients average savings of $7,000 in the first year.

"The relationship is going from strength to strength and we look forward to helping all of Christchurch Insurance Centre's clients in the near future".

FIDELITY LIFE – Upgrade to your policy

Fidelity Life has upgraded policy benefits for a large number of our existing policy holders.  This upgrade rewards the loyalty of our long-term clients and provides them with more comprehensive protection for themselves and their families.

The upgrade has been applied to policy holders with:

ü  Protection Plan Policies with a commencement date on or after 1 April 2001
ü  Mortgage Protector Policies with a commencement date on or after 1 April 2001
ü  All Platinum Policies (these include the old Lumley policies)

The upgraded feature and benefits were automatically applied to eligible policies from 6 August 2012, there is no need for you to do anything.

·        Improvements to various policies, that may apply to you include:

Ø  Improved definitions on some trauma conditions as well as built in upgrade for any future definition changes.
Ø  A new partial benefit for total and permanent disability policies that provides a payment on the total and irrecoverable loss of use of one limb or the sight in one eye.
Ø  A dual definition of disability for income protection policies which allows you to select the definition that best suits you at claim time.
Ø  A specified medical condition benefit within income protection policies that pays a set benefit should you suffer one of a specified list of trauma conditions.
Ø  A specific injury benefit within income protection policies that pays a benefit for a set period of time should you suffer one of the list of the specific injuries.

·        New Benefits:

Ø  Where a new benefit has been added to the current policy since your original policy commenced, you will now be covered for that benefit under the latest policy wording from the upgrade date of 6 August 2012.

·        The best benefits and definitions:

Ø  If you need to make a claim you will be assessed against the terms of the most up to date version of your policy.  However if the terms of your original policy are more favourable to you at the time of claim then your assessment will be based on your original policy.
Ø  This means that you will be getting the best of both worlds at claim time.

If you wish to discuss any of the topics covered or want to review your Insurances or Investments please contact the office on (03) 379 6847 or e-mail admin@supernz.co.nz and we will arrange for one of our consultants to meet with you.

TOWER – Online

Christchurch Insurance, Investment & Superannuation Centre are proud to bring you their option where you can insure just about everything from your life to your boat online should you prefer that method.

·        Life Cover
·        Mortgage Protection Insurance
·        Trauma Cover – Accelerated
·        House and Contents Insurance
·        Car Insurance
·        Travel Insurance
·        Boat Insurance
·        Farm & Lifestyle Insurance
·        Business Insurance
·        Commercial Vehicle Insurance

All of the insurance products are underwritten by TOWER who have been helping New Zealanders protect and grow the things they value for over 40 years.

Simply go and visit our website at www.christchurchinsurance.co.nz click on the toolbox at the bottom left hand corner and follow the prompts.

CLIENT UPDATES

Just a reminder that if you have recently changed your address, phone numbers or e-mail addresses please let us know via e-mail admin@supernz.co.nz or call the office on (03) 379 6847.  We will inform your insurance provider as well.