Frequently Asked Questions

Mutual Solutions Limited is an independent insurance and financial advice firm based in Palmerston North, serving clients across New Zealand since 2012. It is led by Financial Adviser Upmeet Sodhi (FSP 250405) and provides advice on life insurance, income protection, health insurance, KiwiSaver, and home loans. We are not tied to any insurer or bank, we compare products from across the market, and we are rated 4.9 stars from 102 Google reviews. Initial consultations are free.

A good rule of thumb is 10 times your annual income, plus enough to clear any debts (mortgage, car loans, credit cards) and cover your family's living expenses for several years. However, the right amount depends on your age, income, number of dependants, existing savings, and any existing cover through KiwiSaver or an employer scheme. We do a full needs analysis in your free consultation. You can also read our guide on how much life insurance you may need.

ACC covers accidents only. If you're unable to work due to illness - cancer, heart disease, mental health, or any sickness - ACC won't pay. Income protection insurance fills that gap, covering up to 75% of your income whether your inability to work is caused by accident or illness. Most New Zealanders don't realise how significant this gap is until they need it. Our income protection advice page and self-employed guide explain this in more detail.

New Zealand has excellent public healthcare for emergencies, but the public system has long waiting lists for specialist appointments and elective procedures. Private health insurance lets you skip those queues, choose your own specialist and hospital, and get treated faster. If time matters, and it usually does when you're unwell, health insurance is often worth it. See our health insurance advice page or medical insurance guide.

Critical illness (also called trauma) cover pays a lump sum if you're diagnosed with a serious condition, typically cancer, heart attack, stroke, or similar. Unlike income protection (which replaces lost income), critical illness pays regardless of whether you can work. You can use the money for anything: treatment costs, modifications to your home, paying off debt, or simply taking time off to recover.

Yes, our initial consultation is completely free and there is no obligation. We receive commissions from insurance companies and lenders when you take out a policy or loan through us. This means our advice costs you nothing directly, and it doesn't affect the premiums you pay (you'd pay the same going directly to the insurer). We always disclose commissions upfront. Full details are in our Disclosure Statement.

Yes. Mutual Solutions is not owned by or aligned with any bank or insurance company. We compare products across a panel of providers, including Partners Life, AIA, Asteron Life, Fidelity Life, nib and Chubb Life, and recommend what we genuinely believe is best for your situation.

Most clients go from initial consultation to having their policies in place within 2–3 weeks. The first appointment (30–45 minutes) is a relaxed discovery conversation. We then prepare a written recommendation, present it to you, and handle all the paperwork once you're happy to proceed.

We're here for the long term. Every client receives an annual review to make sure your cover still fits your life. We also help with claims. When you need to use your insurance is when you need us most, and we'll guide you through the process and advocate on your behalf with the insurer.

Most New Zealanders are in a default or conservative fund that isn't right for their age and goals. Research consistently shows that fund selection has a massive impact on your retirement balance. The difference between a conservative and growth fund over 30 years can be hundreds of thousands of dollars. We review your current fund, model your projected balance, and recommend a switch if it's in your best interest (at no cost to you). You can start with our KiwiSaver advice page or test scenarios in the KiwiSaver calculator.

The minimum employee contribution rate and available contribution options can change over time. If you can afford to contribute more than the minimum, higher contribution rates can significantly accelerate your retirement savings, especially when combined with employer contributions and the annual government contribution. Check IRD.govt.nz for the current settings and thresholds. We can model different scenarios for you. Our KiwiSaver contribution guide and calculator are a good starting point.

Yes. We provide investment advice tailored to your goals, whether that's building a diversified portfolio, investing for a specific goal (like school fees or a property deposit), or making the most of an inheritance or lump sum. We take into account your risk tolerance, time horizon, and tax situation.

We work with multiple lenders, not just one bank, so we compare rates and structures across the market. We also know which lenders are offering cash-back deals, which have more flexible lending criteria, and how to structure your loan to minimise the total interest paid. Many clients find we can get them a better deal than going to their bank directly.

No. Like insurance, we're paid a commission by the lender when we arrange a mortgage for you, so there's usually no separate adviser fee payable by you for this service.

Absolutely. First home buyers are one of our specialties. We can help you understand how much you can borrow, whether you qualify for the First Home Loan scheme (which allows eligible buyers to purchase with as little as a 5% deposit), how to use your KiwiSaver first home withdrawal, and which lender is most likely to approve your application. For more detail, see our home loans page and first home buyer guide.

Yes. Upmeet Sodhi is a Financial Adviser (FSP 250405) and Mutual Solutions Limited is a registered Financial Advice Provider (FSP 729871) under the Financial Markets Conduct Act 2013. You can verify this on the Financial Service Providers Register at fsp-register.companiesoffice.govt.nz.

We take complaints seriously. First, contact us directly by phone (0800 67 55 55) or email (info@mutuals.co.nz) — we'll confirm receipt as soon as possible and aim to resolve it within 20 working days. If we can't resolve it to your satisfaction, you can escalate to our external dispute resolution scheme: Financial Services Complaints Limited (FSCL), a free and independent service. Call FSCL on 0800 347 257 or visit fscl.org.nz.