Life insurance in New Zealand made simple
Compare life cover from NZ's leading insurers. Free quotes, licensed advisers, no obligation.
Get my free life insurance quoteWhat is life insurance?
Life insurance pays a lump sum to your family or estate if you pass away during the policy term. The money is theirs to use however needed, from paying off the mortgage to funding the kids' education or replacing your income for the years ahead. Most Kiwis use life cover to make sure their household keeps moving forward even when they no longer can.
Why Kiwis get life cover
Protect the mortgage
Make sure your family keeps the home.
Replace lost income
Cover years of household earnings.
Fund your kids' future
Education, opportunities, security.
Pay off debts
Clear loans and credit cards so they don't pass on.
What's typically included
- Lump sum payment on death
- Terminal illness benefit (most policies)
- Optional add-ons like trauma, TPD, and waiver of premium
- Choice of policy term to suit your situation
Things to think about
Cover amount
A common rule of thumb is 7 to 10 times your annual income.
Term length
Match the term to your mortgage or until kids are independent.
Level vs stepped premiums
Stepped is cheaper now, level costs less long term.
Existing cover
Check what you have through KiwiSaver, employer schemes, and old policies.
How NZQuoteCompare helps
We connect you with licensed NZ advisers who compare life insurance options across NZ's top insurers including AIA, Chubb Life, Asteron Life, Fidelity Life, and Partners Life. No fee for you. No pressure. Just clear options.
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Common questions
A common starting point is 7 to 10 times your annual income, adjusted for your mortgage, dependants, and any existing cover. An adviser will help work out a figure that suits your situation.
Term cover runs for a set period (e.g. 20 years). Whole-of-life cover lasts your lifetime. Most Kiwis use term cover because it costs less and aligns with the years your family is most financially exposed.
Generally, life insurance lump sum payouts to a beneficiary are not subject to income tax in NZ. Always check your situation with a qualified professional.
Yes. Most policies allow you to increase or decrease cover, change premium structure, or add benefits as your life changes.
Yes. Smokers generally pay higher premiums. Ex-smokers can usually access non-smoker rates after 12 months smoke-free.
This page is general information only and not financial advice. Speak with a licensed adviser for advice tailored to your situation.