Life Insurance

Couple goals: tips for having the 'insurance talk'

Are you in a couple and looking for ways to protect the life you're building together? It all starts with an open, honest conversation.

Of course, we hear you: insurance is not the easiest thing to talk about. But it's important, nonetheless. So, if you're not quite sure where to start, here are some ice-breaking tips for you.

Understanding your needs

Everyone is different, and even within the same couple, there might be varying (and at times conflicting) needs and wants. So, the first key step is to take a good look at your financial life – where you're at today and where you'd like to be in the short and the long turn.

Some key questions to get you started:

  • Family – Do you have kids, and if you don't, do you plan to have any in the future?
  • Home ownership – Are you renting and saving to buy your first home? Or do you have a mortgage?
  • Debt – Do you have a mortgage or high level of personal debt?
  • Income – Is your partner relying on your income for their lifestyle, long-term financial commitments, or other goals? And if your partner is a stay-at-home parent, would it be worthwhile to take out relevant cover for them as well?

When assessing your life together, try to be as detailed but also as comprehensive as possible. This will help you identify your most important assets, those that are worth protecting.

Keeping emotions at bay

Talking about things like premature death, loss of income and serious illnesses can stir up powerful feelings. So, it's a good idea to allow for, but not be controlled by your emotions.

These hard conversations are all about listening to each other and keeping an open mind. Try to approach these difficult 'what-ifs' in a pragmatic way. After all, you're not taking out insurance because you believe that something is likely to occur, but because you want to take steps to protect your shared financial future should the unexpected happen.

Doing your research

Once you've discussed what you'd like to achieve, it's time to research what's available.

Our Content Hub has plenty of great information about insurance, how it works and what does what: you may find that some types of insurance are more appropriate for your situation than others.

And of course, if you'd like to know how insurance can fit into your budget, you can use our quote compare tool to get quotes in minutes from New Zealand's leading insurers. Once again, we're here if something is not clear enough: feel free to send us a message anytime

Get in touch

No matter the season, rain or shine, our friendly team of insurance advisers at LifeDirect are here to answer any questions you may have. Give us a call on 0800 800 400, start a Live Chat or fill in our contact form to get in touch.

Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.

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