About Lifestyle
Director and Principle,
Lifestyle Insurance
Introducing Tom Wu
Tom moved to New Zealand in 2002. He has been providing personal risk, business risk and ACC advice to New Zealanders since 2006. He lives with his wife Nikki and two boys on Auckland’s North Shore. He enjoys playing badminton, skiing with his boys and Track & Field competition.
Adviser Role
Tom is the Director of Lifestyle Insurance Consultants Ltd. He provides advice and programmes that meet the specific needs of medical professionals such as junior doctors, house officers, registrars, senior registrars, GPs and consultants. Almost all of his clients have been referred by medical professionals who have experienced his excellent service and exceptional knowledge of how ACC and private insurance can best serve their profession.
Qualifications
Tom is registered as a financial adviser on the NZ Financial Services Providers Register (FSP72221). He also has high-level qualifications and experience that bring his clients confidence. He holds a Master degree of Business Studies and a Bachelor degree of Commerce.
Professional Experience
Tom started his financial career in 1993 with the Bank of China. He has since worked in various aspects of finance including shares, future trading and risk management. Since 2006, he worked extensively in the area of personal and business risk.
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We specialise in the provision of life and business risk management services to our clients.
About Our Services
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We review your current financial, lifestyle and family circumstances, determine the key risks you are facing and work with you to determine appropriate risk management strategies for these risks.
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Where the financial and lifestyle effects of a risk event occuring require the use of insurance, we work with you to develop a cost effective insurance solution to suit the circumstances. Because we are not aligned to any particular insurance company and have no business quotas to fulfil, we are able to recommend an insurance solution from a wide range of alternatives. This helps to ensure that any product we recommend is best suited to your particular need.
We use products such as:
Life; lump sum and annuity-based insurance in the event of death.
Trauma; lump sum cover in the event of a major health trauma suffered by the insured. This would typically include most major health risks including heart attack, stroke and cancer.
Permanent Disability; lump sum cover where you suffer an injury of health condition sufficiently severe to remove you from the work force permanently.
Disability Income Protection; replacement of income in the event you are unable to work due to non-accident related health condition.
Medical/Health Insurance; cover for conditions requiring major medical/surgical procedures.
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If you already have an insurance programme in place, we can offer a fee-based service to assess your existing programme in the context of your situation and needs.
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Ultimately, the real proof of any insurance programme is at claim time and this is often the time at which you most need support from your adviser. We are fully committed to providing the support you need during claim time.
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Accident compensation in New Zealand is continually changing and there are a number of options available to business owners looking to manage their risk in the most cost effective way. Our ACC consulting service is designed to help develop a programme suited to the particular needs of your business and medical practice.
About Our Approach
Lifestyle Insurance Consultants Ltd is a specialist risk management financial advisory company.
We design and implement personal risk management solutions for our clients and in this regard we like to think we are a little different.
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We take a risk management approach to the design of our client solutions. We see our role as
Helping you to determine the key risks facing you, your family and your business/practice.
Evaluating the potential effect of those risk events on your finances and lifestyle
Determining how the financial/lifestyle effects of these risk events will be managed and
Where insurance is deemed an appropriate risk management tool, evaluating products and structures to maximise benefit in a cost effective insurance package without compromising quality.
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We use a very structured six step process recognised as best practice in the financial advisory sector around the world. This process includes
Initial meeting to determine whether we are able to help you with your needs
Information gathering to ensure that your current financial situation and needs over time are identified
Analysis and modelling of options to ensure that your programme is consistent with your needs.
Presentation and discussion of recommended risk management plan
Implementation of agreed programme and
Ongoing Reviews
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We review our clients risk management programme every year. Major changes in your life and lifestyle can occur quite frequently and typically such changes affect the risks you face. The arrival of a new child can fundamentally affect your insurance needs, children growing up and leaving home can similarly impact on your needs as can a decision to change jobs or set yourself up in business. Similarly, your general insurance needs will change over time and it is important to keep on top of these change to ensure that you insurances are appropriately structured for your needs at all times. Whilst an annual review may not result in any change to your risk management programme, it does enable you to ensure that your programme continues to meet the needs of you and your family.
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Our process incorporates a highly structured and comprehensive information gathering exercise analysis of your existing situation and plans over the next few years to ensure that your risk management programme meets your needs.
We also work with other professionals who provide you with advisory services to ensure that any insurance needs are structured appropriately in the context of your risk management programme. Our work in this area includes
ensuring that insurance ownership is structured in accordance with your particular needs.
ensuring that insurance, estate planning and asset ownership structures are synchronised. This may include ensuring that your wills are updated to incorporate the testamentary effects of a life insurance policy or recognising the implications for family trusts and updating accordingly.
Working with your accountant to ensure that insurance ownership is consistent with your overall financial situation.
Maximise tax deductibility of insurance programmes
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We all hope that our risk management plans are not required but ultimately, any risk management programme can only be evaluated in the context of a claim. We recognise that it is in times of crises that the effect of our services are really felt and often when we are most needed. We will be there to help you through these periods and ensure the benefits of your risk management plans are fully realised.
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To ensure that we are able to provide you with highly professional client service, we have joined MySolutions, major providers of support services to advisers around the country.
Tom is also a member of NZ Financial Advisers’ Association, who are leading the way for professional advisers in New Zealand.
We work with all the major life and health companies in New Zealand.
If you would like to discuss your particular needs, please call us on 0800 585 898 or send us an email via the contact form on this page.
Let’s work together
Interested in working together?
Fill out some info and we will be in touch shortly!
We can't wait to hear from you