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How personal insurance works

Making personal insurance straightforward

The value of insurance

Most people wouldn’t dream of having an uninsured house or car, but often neglect insuring their ability to earn an income and protect their family.

Illness, death, accidents and disabilities – they’re all facts of life. Unfortunately many New Zealanders don’t have personal insurance that could provide the financial support to make it easier for those affected to get through a hard time.

Life is about living. What we pay in personal insurance claims helps you maintain your lifestyle and support those that matter most.

It pays to stay covered

When you get insurance, you’re taking up an ongoing expense just like rent or the costs to keep your car going. It’s recommended to factor the costs of premiums in your budget so you can be confident in your decision. You can’t predict when you may need to make an insurance claim, so it’s important that you can maintain premium costs for the long term.

Before taking up new insurance, it helps to assess any other insurance you currently. This can help to avoid any unnecessary overlaps and/or unintended consequences in terms of the cover you’re paying for.

How to arrange personal insurance

If you’ve decided to take out personal insurance cover – life, income protection, trauma cover, disability cover and/or health insurance – it’s best to talk to an Adviser. They’ll be able to personalise a plan to meet your needs and budget, and advise on the right options for you.

Find out how much cover you need

The level and type of cover you need depends on your personal circumstances, which includes factors such as:

  • your age
  • your earnings
  • the amount you owe
  • your health
  • your family’s medical history
  • how many dependents you have.

To get an indication of the right amount of life insurance cover for you, use our ‘How much life insurance do I need’ calculator.

The cost of personal insurance

The cost of your cover will depend on factors like:

  • your age
  • occupation
  • smoking status
  • your health
  • your family’s medical history
  • the level of cover you choose.

Speaking to a financial Adviser will help you decide the right level of cover for you.  They will be able to tailor insurance cover to meet your needs and advise on the best options.

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Make a personal insurance claim

See our range of personal insurance options

Find out more

Find an Adviser to get expert advice tailored to your needs

How much life insurance do you need

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Important information

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The content on this website is for information only. The information is of a general nature and does not constitute financial advice or other professional advice. Before taking any action, you should always seek financial advice or other professional advice relevant to your personal circumstances. While care has been taken to supply information on this website that is accurate, no entity or person gives any warranty of reliability or accuracy, or accepts any responsibility arising in any way including from any error or omission.

A disclosure statement is available from your Adviser, on request and free of charge.