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Life Insurance

Life Insurance isn't really about you; it's about the people who depend on you for financial support. In the event of your death, they'll need help with things like living costs, education
costs and funeral costs. In New Zealand, one in six men and one in nine women over 30 will
die between the ages of 30 and 65*. While it's easy to say "that won't be me', denying the possibility of premature death is like playing Russian roulette.

Life Insurance pays a lump sum if you die. It also gives you the option of full payment
if you are diagnosed as terminally ill.

How much cover do I need? 

Choosing the right level of cover is important. Too much insurance is a waste of money, but too little can leave the people you care about in hot water. You may want to consider clearing your current debts, providing a replacement income for your family to make up for yours no longer being there, covering the costs of childcare and education for your children.

Is my policy set up with the correct ownership?

Having the correct ownership arrangement on your life insurance policy is critical to ensuring your life insurance money makes it into the right hands in a timely manner, should you die. Having the incorrect ownership arrangement on your life insurance policy can cause major delays and possibly stressful court battles before your life insurance money reaches the ones you were trying to provide for.

Which Insurer is the best one for me?

To start with you want an insurer that has a good claims payment record, is financially stable and is competitively priced. Other things to look out for are whether or not they offer guaranteed insurability and life events increases; these will give you flexibility to increase your cover at a later date more readily.

 

Sound like gibberish? Ask an adviser.

 

 

In New Zealand, one in six men and one in nine women over 30 will die between the ages of 30 and 65*

 
* Statistics New Zealand (2004), New Zealand -
Life Tables 2000-2002

 

 

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