First insurance adviser meeting: a New Zealand checklist

Start with the question you want answered

You do not need to choose a policy before speaking to an insurance adviser. A useful opening is one sentence about the decision in front of you: “We have taken on a mortgage and want to understand our existing cover,” or “My work has changed and I want to know which documents need reviewing.”

Add the reason it matters now and any real deadline. A renewal date, change of employment or upcoming settlement can help you explain the timing. Avoid deciding in advance that a particular insurance product must be the answer.

The FMA's insurance advice guidance describes a conversation about needs, affordability and policy terms. Use the first discussion to identify what needs investigating and what information is still missing.

Prepare a short set of meeting notes

Use the following worksheet as an organising aid. Keep the documents themselves somewhere private. You can ask the adviser which records are relevant before arranging a secure transfer.

The decision

Write your main question, what has changed and the date by which you need an answer. If several people are involved, note which questions you agree on and which need discussion.

What you already hold

List the policies you can find. Keep the latest schedule, wording and any later amendments together. Beside each document, record its date so an old quote is not mistaken for current cover.

Your household picture

Make a brief note of the people who depend on your income and the regular commitments you want to discuss. Mark estimates as estimates. A monthly figure and an annual figure should be clearly labelled.

The unknowns

Create a separate list for missing documents and unclear terms. “I do not know whether this benefit is still active” is a useful question; silently treating it as active makes the discussion less reliable.

The handoff

Ask what the adviser needs next, how to provide it and who will follow up. Do not put medical records, policy numbers or detailed finances into the website's initial enquiry form.

The FMA explains that advisers may need information about a person's circumstances, finances and existing insurance. The precise information depends on the advice being sought. See its guide to working with a financial adviser.

Ask about the scope and cost before committing

A prepared folder is helpful only if you also understand what the adviser will do with it. Write down a few questions in your own words:

• What part of my question can you advise on, and what will sit outside this discussion?
• Which providers or products can you consider for this work?
• How are you paid, and could any fee apply to me?
• What further information will you need before making a recommendation?
• How will I receive the explanation and the next steps in writing?

These questions are consistent with the FMA's guidance on understanding an adviser's service and remuneration. Gold Star's disclosure page and advice process provide context for an initial conversation; ask James to confirm the scope that applies to you.

An example: a household with a new mortgage

Illustrative scenario. This is a fictional preparation exercise, with no connection to a real client or outcome.

Two people have bought a home. They have an old policy schedule and a benefits leaflet from one person's previous employer. Their immediate question is whether their current arrangements still fit the responsibilities they have taken on.

A useful preparation note would separate the mortgage commitment, the policy documents they can verify and the employment benefit that needs checking. They could ask the former employer or relevant provider for confirmation through the appropriate channel, then take the answer to the adviser.

The exercise leaves the insurance decision open. It gives the adviser specific facts to work with and prevents an uncertain document from being treated as proof of cover. Any recommendation would still depend on their circumstances, applicable terms and the advice process.

Leave with a clear next step

At the end of the conversation, note the unanswered question, the person responsible for it and the expected follow-up. Ask for clarification if a recommendation or unfamiliar term is unclear.

Do not change or cancel an existing policy on the strength of this checklist. If you are considering a change, ask what it would mean for your current arrangements and obtain the relevant confirmation in writing. The FMA's insurance guidance highlights the need to understand the consequences of changing cover.

Common questions

Can I make contact if I cannot find every document?

You can begin with a brief question and explain what is missing. Ask which records are needed before a useful assessment can be made. Missing information should remain an open item.

Does preparing these notes tell me how much cover I need?

No. The notes organise a conversation. They do not calculate an appropriate amount, assess a policy or establish whether an insurer will accept an application.

What should I put in my first message?

State the topic and your preferred contact details. For example, “I would like to discuss a review of my existing insurance following a change at home.” Arrange any sensitive information separately, as explained on the privacy page.