What is life insurance?
Life insurance provides a lump-sum payment if the insured person dies.
Who is paid?
The lump sum is paid to the insurance′s policy owner.
Who can apply?
It can vary by insurer, but usually any person between the ages of 16 & 74 (and is an NZ Citizen or a permanent resident) can apply.
Note: if you are in New Zealand on a work visa and are currently in the process of applying for residency you may also be eligible. And New Zealand Citizens or permanent residents living overseas can also get cover in some situations.
Please contact us for further details on 0800 800 400.
What is covered?
A good life insurance policy will provide cover in the event of death through any cause (e.g. sickness, accident, etc).
What isn′t covered?
The main exclusion is for suicide within the first 13 months of setting up the policy. Insurers can also decline a claim if there has been significant “non-disclosure” on the application form (for example not mentioning a history of illness). For this reason, if you are in doubt about the relevance of any information you should always disclose it during the application process.
Terminal illness Benefit
Policies will also make an early payment of your life insurance if you are diagnosed by a doctor as being terminally ill (which usually means likely to die within 12 months).