nature & scope of advice
Wiki Group provide advice to our clients about their life insurance, trauma, income and mortgage protection, total permanent disability and health insurance.
We only provide insurance advice
We only provide insurance advice about products from certain providers:
For new life insurance policies we work with: Partners Life | Chubb | Resolution Life | AIA | Fidelity
In providing you with financial advice, we will only consider existing term life, trauma, income & mortgage protection and health insurance policies (if any).
We utilise independent research Quality Product Research to assist in our recommendations when dealing with existing covers and possible replacement.
Insurance Advice Overview
Fees & Expenses
We do not charge fees, expenses or any other amount for the financial advice services provided to its clients. We do not charge a fee for clients to implement an insurance plan.
If you decide to take out insurance, the insurer will pay us. We receive payments from the insurance companies on whose policies we implement and service while in force.
Conflicts of Interest & Payments
We receive payments from the relevant insurance company if you take out insurance following our advisers advice. The payments are between 0% and 230% of the first year’s premiums of your policy – the amount depends on which insurance company and which insurance policy you choose. We also receive a payment of between 5% and 20% of the premium for each year the policy remains in force.
To ensure that we prioritise your interests above our own, we follow an advice process that ensures our recommendations are made on the basis of your individual insurance needs and circumstances. Advisers complete annual training about how to manage conflicts of interest.
We also undertake a Financial Advice Provider compliance audit, and a review of our compliance programme, annually to ensure we are meeting our duties.
Duties Information
The Wiki Group, and anyone who gives financial advice, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice:
We are required to:
- Give priority to your interest by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests
- Exercise care, diligence, and skill in providing you with advice
- Meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to
provide you with advice) - Meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should, and give you suitable advice).
This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz
What types of insurance advice do you offer?
Explore detailed explanations to frequent inquiries about our insurance advisory services, ensuring you get clear, prompt guidance.
What is life insurance and why is it important?
Life insurance provides financial protection to your loved ones in the event of your passing, ensuring their security and peace of mind.
How does trauma insurance support me during serious illness?
Trauma insurance offers a lump sum payment to help cover medical costs and living expenses if you experience a critical health event.
What is income protection insurance?
Income protection insurance replaces a portion of your income if you’re unable to work due to illness or injury, helping you maintain financial stability.
Can mortgage protection insurance help safeguard my home?
Yes, mortgage protection insurance assists in covering your mortgage repayments in case of unforeseen circumstances affecting your ability to pay.
What does total permanent disability insurance cover?
This insurance provides financial support if you become permanently disabled and are unable to work, helping you cover ongoing expenses.
How does your fee structure work?
We offer transparent, fair fees with no hidden costs, ensuring you understand all charges upfront and receive value for our services.