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Insurance Policies being Cancelled due to Skyrocketing Premiums
It appears that a significant number of pensioners and families in Northland are cancelling their insurance cover as premiums skyrocket according to a report from an article in the Northern Advocate. Northland’s Grey Power Board member , Russell Bird reports that Grey Power has been receiving more complaints, especially in the last 9 months, with many cancelling their cover. For those dependant on NZS as their sole income in retirement increases of the order of 25-40% are just not affordable and so cuts are necessary. Rather than being left without any protection those facing high increases are encouraged to get alternative quotes, and to consider raising their excess amount, rather than cancelling protection in these uncertain times.
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