Did you know: insurance for farmers
We ask adviser Fiona Keenan for her top insurance tip. Fiona is widely known in rural communities throughout the South Island, resulting from her agribusiness-focused career and identification with rural New Zealand.
You’ll already know that life insurance costs more as you get older, but did you know that level term life insurance keeps your premiums the same year-on-year, up to age 100? This makes long-term financial planning for individuals or businesses easier and overall more affordable. It’s especially beneficial for farms, where accidents are common, and farm owners face succession planning challenges.
Level term life insurance can help the farm remain in the family for generations to come as level term premiums allow the farm to be able to budget and cash flow the premiums for the long term. They ensure that the claim will be paid as part of the succession plan. Life insurance and using level term rates can be an excellent tool for any farm succession plan.
Disclaimer: The information published here is not financial advice. At Fidelity Life, we try hard to make the information we publish accurate and helpful to you, but we cannot guarantee its accuracy and we aren’t liable for any action you take as a result.
At Fidelity Life we believe strongly that financial advice should be tailored to your needs, and that you should get your advice from a professional financial adviser (which we are not). We can help you find a financial adviser in your area if you would like advice.
The information published here shouldn’t be taken as an endorsement of the author.