Prime of Life

If you are in the final stages of your career or have recently retired, there is a lot to celebrate and consider when it comes to your later years. We all aim to have a comfortable retirement, but to do so we need to have planned and saved.

Entering retirement is not the end of financial concerns, and by planning well and protecting yourself, you can continue to live life the way you want, whether that be to travel frequently to visit children and grandchildren, manicure an award winning garden, or get into that hobby you’ve always considered.

Along with this, we also need to consider medical costs which will increase as we age, and other costs we or our families may face. Here we outline some of the things you may need to consider:

Your retirement income

In recent years, KiwiSaver has been in the headlines a lot and is doing much to encourage New Zealanders to save for their retirement. However, KiwiSaver is designed for those who are not yet retired, and there are other options that can be better suited to the investor who needs to rely on savings and investments to top up New Zealand Superannuation income.

Savings and Investments

Savings & investments are an important source of retirement income and keeping your money in the bank is not the only option. There are a range of investment choices at TOWER that can assist with managing your retirement savings, and what suits you will depend on what sort of risk you are willing to take, the time horizon you are wanting to invest over, and what sort of return you are hoping for.

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Personal Wealth Management

The TOWER Individually Managed Account Service is a personal wealth management system that is designed to be simple, flexible, and convenient for people who have built up a retirement nest egg and prefer to have a professional financial adviser assist them with taking care of it.

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Professional Financial Advice

Financial advice can be most helpful when you have to make important decisions about your savings, investment, and insurance needs in retirement, especially if you are receiving only New Zealand Superannuation as your principal regular form of income. Because today’s retired folk are likely to live for longer and be more active and healthy than previous generations, it is essential to make financial decisions appropriate for what could be several decades of busy, fulfilling retirement ahead. Find out more >>

Protecting your retirement lifestyle

While you may start rationalising what you own as you downsize your home, it’s still important to cover what you have, including your health.

Car Insurance TOWER Motor Vehicle Policy Tailored Protection is just as important in your later years as it is when you’re a new driver. Our full cover policy offers everything you’d expect from a broad cover insurance policy, plus gives you extra optional coverage for trailers and caravans and discounts if you exclude under 25 year olds – unless you trust your grandchildren to drive your pride and joy! Find out more >>	House and Contents TOWER House & Contents Provider SuperMaxi Protection Policy is the policy that combines your home and contents insurance into one policy, with no limit to the sum insured. It’s perfect as we get older and our possessions build up, and has some great benefits like ‘Spectacles, contact lenses, hearing aids and dentures’ which provides cover for repair or replacement, free of any excess. Find out more >>	Funeral Insurance Funeral insurance is an affordable insurance product that can help pay for your funeral, alleviating the stress and burden on your loved ones while they grieve. It’s a practical policy that pays out quickly, and paying the regular premium means you can get on with enjoying your retirement. Find out more >>
Travel Insurance TOWER Provider Travel Insurance is a must if you have the luxury of holidays abroad during your retirement. Helping to cover the medical issues, lost luggage and missed connections you have (or hopefully don’t have!) on your holiday can help take away the stress and let you focus on having a great time. Find out more >>	Health Insurance Premier Health™ can help you with the costs of medical treatment as you get older. The product has a broad Base Cover for the major surgical expenses you may face as well as a range of additional options that you can tailor to meet your needs. Find out more >>	Life Insurance Life Cover is still important as we age, and this cover can help the people you leave behind with the daily bills we face regardless of what else is happening in our lives. There are also additional policies you can add on to your Life Cover depending on your needs. find out more >>

If you’re spending your retirement on the family boat, we could have you covered with our Boat Insurance. And for those with rental properties, make sure you’ve got yourself covered with our Provider Rental House Policy. Talk to TOWER about these and other options by calling us on 0800 379 372, open seven days a week, 8.00am-8.00pm.