Thinking of ditching insurance for a DIY 'stash away the premiums' approach? Self-insurance sounds smart, but is it really? In this episode, Tim and Nick unpack why skipping cover can backfire, the behavioural biases that trip us up, and why integrating risk management into your financial plan is essential for long-term security.

(00:00:00) Intro: What is self-insurance and why it sounds appealing

(00:00:57) Nick explains the concept and why people consider it

(00:03:38) Inflation and rising costs make self-insurance risky

(00:05:38) Behavioural biases: present bias and optimism bias

(00:07:39) Why transferring risk to an insurer matters

(00:09:35) Nick’s real-life claims story

(00:11:02) $18,000 car repair and the ripple effect

(00:11:30) $1.20 washer leads to $55,000 home damage

(00:12:34) $28,500 medical costs

(00:13:55) Why self-insuring would have failed in this scenario

(00:15:54) The importance of holistic financial planning and insurance

(00:18:10) Closing thoughts: seek advice and integrate risk management

The Adviser Talk is available on all major streaming platforms, including Spotify and Apple Music.

• Nick Stewart is a Financial Adviser and CEO at Stewart Group, a Hawke's Bay and Wellington-based CEFEX-certified financial planning and advisory firm. Stewart Group provides personal fiduciary services, Wealth Management, Risk Insurance and KiwiSaver solutions.
• The information provided, or any opinions expressed in this show, are of a general nature only and should not be construed or relied on as a recommendation to invest in a financial product or class of financial products. You should seek financial advice specific to your circumstances from an Authorised Financial Adviser before making any financial decisions. A disclosure statement can be obtained free of charge by calling 0800 878 961 or visit our website, www.stewartgroup.co.nz

Hosted on Acast. See acast.com/privacy for more information.

What do you consider your biggest asset, and is it covered?

Featuring Tim Ewan, Risk Insurance Manager at Stewart Group, we discuss the significance of income protection insurance for New Zealanders, the limitations of ACC, and the roles of different types of personal insurance.

Tim explains why income protection is vital, how trauma and TPD cover work, the impact of non-accidental conditions, and practical steps for choosing the right cover.

Tune in now and ensure you are covered where it matters most.

Important Time Stamps

(00:02:03) Why income protection insurance is important for everyday New Zealanders.

(00:03:23) ACC coverage explained, and its limitations compared to private income protection.

(00:04:37) Overview of personal insurance types: life, trauma, TPD, and income protection.

(00:08:12) The impact of insurance events and why planning ahead matters.

(00:09:10) How insurance payouts can relieve stress and aid recovery.

(00:10:05) ACC statistics: non-accidental conditions, workdays lost and how income protection fills gaps not covered by ACC.

(00:12:35) First steps for people considering insurance: importance of good advice, regular insurance reviews and claiming when eligible.

(00:16:00) Final thoughts: protecting your income and choosing the right cover.

The Adviser Talk is available on all popular streaming platforms, including Spotify and Apple Podcasts.

• Tim Ewen is a Risk Insurance Manager at Stewart Group, a Hawke's Bay and Wellington-based CEFEX-certified financial planning and advisory firm. Stewart Group provides personal fiduciary services, Wealth Management, Risk Insurance & KiwiSaver solutions.

• The information provided, or any opinions expressed in this show, are of a general nature only and should not be construed or relied on as a recommendation to invest in a financial product or class of financial products. You should seek financial advice specific to your circumstances from an Authorised Financial Adviser before making any financial decisions. A disclosure statement can be obtained free of charge by calling 0800 878 961 or visiting our website, www.stewartgroup.co.nz

Hosted on Acast. See acast.com/privacy for more information.

Are we really as wealthy as the headlines claim?

New Zealand recently ranked fifth globally in per capita wealth—but is that just an illusion? In this episode, Tim and Nick unpack why so much of our “wealth” is tied up in property, what that means for financial security, and practical steps to build resilience beyond bricks and mortar.

(00:00:00) Intro: Are we really the fifth-wealthiest nation, or is it smoke and mirrors?

(00:00:36) Why Kiwis feel squeezed despite global wealth rankings

(00:00:49) The Allianz report and New Zealand’s property-heavy balance sheet

(00:03:38) Why housing wealth creates an illusion of security

(00:04:29) The “third age” and risks of poor cash flow in retirement

(00:06:40) Government incentives and our obsession with property

(00:08:07) GDP per capita vs wealth rankings—what’s the real story?

(00:09:57) Why New Zealand’s productivity has lagged for decades

(00:13:30) Export strategy and lack of value-add in key industries

(00:16:02) Practical steps for genuine financial resilience

The Adviser Talk is available on all major streaming platforms, including Spotify and Apple Music.

• Nick Stewart is a Financial Adviser and CEO at Stewart Group, a Hawke's Bay and Wellington-based CEFEX-certified financial planning and advisory firm. Stewart Group provides personal fiduciary services, Wealth Management, Risk Insurance and KiwiSaver solutions.
• The information provided, or any opinions expressed in this show, are of a general nature only and should not be construed or relied on as a recommendation to invest in a financial product or class of financial products. You should seek financial advice specific to your circumstances from an Authorised Financial Adviser before making any financial decisions. A disclosure statement can be obtained free of charge by calling 0800 878 961 or visit our website, www.stewartgroup.co.nz

Hosted on Acast. See acast.com/privacy for more information.