Personal Protection Products
Life Insurance
A lump sum payment to ensure your loved ones are taken care of.
What is Life Insurance:
Life insurance is a way to help protect the people you care about if you pass away. In New Zealand, you pay a regular fee (called a premium) to an insurance company. If you die while your insurance is active, the insurance provider gives money (called a payout) to the person or people you choose, such as your family or friends.
They can use this money to cover important costs like funeral expenses, mortgage payments, or everyday bills. This can make a big difference if they rely on your income or support.
When looking for life insurance, it’s good to compare plans and talk to a trusted advisor. Make sure you understand what’s covered, how much you’ll pay, and how the payout will help your loved ones if the worst happens.
What can life insurance be used for:
Your Life Insurance can be used in anyway you choose. Some common uses are listed below.
Funeral Costs:
It can help cover the expense of a funeral or any other costs related to a person’s passing.
Everyday Bills and Living Costs:
If your family depends on your income, life insurance can help pay for rent or mortgage, groceries, and other ongoing bills.
Paying Off Debts:
It can help clear debts—like a mortgage, credit card bills, or personal loans—so loved ones aren’t left struggling.
Children’s Future Expenses:
It can help pay for education or set aside funds for your children or dependents.
How do premiums work:
Premiums are the payments you make to keep your life insurance active. You can usually choose to pay them monthly, quarterly, or yearly. The cost depends on things like your age, health, and how much cover you want. If you stop paying your premiums, your policy might end, so it’s important to keep up with them to stay protected.
There are different types of premiums:
With life insurance in New Zealand there typically two types of premium structure, these are Rate for Age and Level.
A Rate for Age premium payment will increase every year on your policy anniversary (the date you took out your policy). This is to reflect your age and the increase in risk you pose to the Insurance Company.
A Level premium payment will remain level throughout the life of the policy and is based on the age of the applicant when they take out a policy. This allows policyholders to budget accordingly for the future. A level premium structure has advantages for those who take out their policies at a young age.
Reviewing your Life Insurance:
Reviewing your life insurance policy every so often helps make sure it still fits your needs. Major life changes—like getting married, buying a house, or having a baby—can affect how much cover you need. By checking your policy regularly, you can keep it up to date and help ensure your loved ones are properly protected.
Take a second to look over our frequently asked questions.
Have different questions? Email us at mailto:info@insuredforlife.co.nz
How does Insured For Life help me find insurance?
By submitting your details, we match you with a qualified and trusted adviser who can provide expert guidance and a personalised quote.
Who can use our service?
If you are over 18 years of age, you can use our service!
Simply take the quiz and fill out the form here.
Even if you currently have a policy and want a second opinion, our advisers are here to help!
How long does it take?
An adviser will be in touch via your preferred contact method within 24 business hours, unless stated otherwise.
What are the fees?
There are no fees.
We only partner with advisers who offer no charge consultations!
You will only have to pay your schedular premiums to the Insurance Provider, should you decide to implement the recommended plan.
Is it safe?
Our service is 100% safe!
We hold your information submitted through our simple quiz for a maximum of 60 days. This allows us to find the right adviser for you.
After this period the only people who will have access to your personal information is your financial adviser.
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