Life Insurance Quotes

• Be a permanent resident and physically in New Zealand at the time of application.
• Be aged between 10 and 75 years.
  Parent’s or legal guardians must consent where Life/Child to be Assured is less than 16 years of age and older than 10.

Migrants on work visa, residence visa or business visa valid less than 24 months can in most cases buy life insurance whereas the policy will be cancelled and no benefit paid if the assured is outside the territorial boundaries of New Zealand, Australia, the Cook Islands, Tokelau, or Niue for a continuous period of more than three months.

Other benefits such as trauma cover, disability insurance, total permanent disablement and accidental death cover may be offered on an individual consideration basis.

Yes.

If you have been diagnosed with an incurable disease and expected to live less than 12 months, you may lodge a claim for your life insurance policy to be paid out. 

You may want to spend the money on palliative care to improve the quality of life or travel the world as a last wish. Either or, it’s your money and your decision.

Absolutely.

AIA, Asteron Life and Fidelity Life all have an inbuilt policy feature which pays out $15.000 and Partners Life pays out $25.000 helping your family with funeral costs while the claim is being assessed.

The Bereavement Support is paid out immediately upon notification of death.

If you are alive, the claim will be paid to you.

If you have died, the claim will be paid to the policy owner (often your partner or children) and if no policy owner is nominated, the funds will be paid to your estate.

When taking out a mortgage, most lenders expect you to get life insurance, so that your mortgage will be paid off if you die prematurely.

But it’s worth knowing that you don’t have to get life insurance from your mortgage provider  – our life insurance experts can help you and your family with short- and long-term life insurance cover from any insurer that is right for you.

You’ll need to work out whether you just want your life insurance to cover your mortgage or if you want your dependants to get a payout on top too. 

If you need help to compare the various options and policy details, contact one of the advisers at LifeCovered on 0800 259925 (Mon-Thurs 9am – 7pm, Fri 9am – 5pm, Sat 9am – 1.00pm).

Your life insurance application can be approved within hours or it could take a few weeks.

The approval process depends on the information you provide. If we have complete information and there are no medical issues to consider, the cover may be issued shortly after receipt of your application.

For applications that require more detail to process, such as medical reports, it may take a few weeks, depending on how quickly you or your doctor is able to respond to requests for information.

You will automatically be given 60 days of temporary cover while your application is assessed. Terms and conditions apply and the maximum life, trauma and TPD benefit is $500,000.

You can pay via direct debit, debit or credit card. Premiums can be paid weekly, fortnightly, monthly, 3- monthly, 6-monthly or annually.

Yes, you can cancel your life insurance policy at any time – and if cancelled within the “free look” period all premiums paid will be refunded. The “free look” period begins on:

• The day we tell you when your policy will start.
• The day you receive your policy documents.

Check your policy for more details.

If you cancel your policy, you won’t be able to make a claim. If you’re thinking about cancelling your policy, please contact us to discuss your options on 0800 259925

You are at the centre of everything we do. We are a people of action and we take ownership of everything we do.

If you have a complaint, we will do our best to resolve the situation with care, fairly and within a reasonable timeframe.

Call us on 0800 000 200 or (+6498698322 if you are overseas), or email careteam@lifecovered.nz

Our care team will look after you and try to resolve your issue straight away.

As Registered Financial Providers, LifeCovered is a member of the Insurance and Financial Services Ombudsman Scheme (IFSO Scheme), a free, independent service which can help settle any dispute you are unable to resolve with LifeCovered.

You must write to the Ombudsman within three months of being notified by us that a deadlock has been reached.

Any dispute or action relating to your policy will be determined in accordance with New Zealand law.

IFSO contact details:
PO Box 10 845
Wellington 6143
Phone 0800 888 202
Email info@ifso.nz
Website www.ifso.nz

Ask yourself a couple of hard-hitting questions and answer truthfully.

Imagine how your family would survive without you. Here are some questions that might help:

• Would your family’s financial security be at risk if you were to pass away prematurely?
• How much money will your dependents need in order to live comfortably after you’re gone?
• What are your monthly expenses, including mortgage payments and utilities? Could your family afford to continue living in your home?
• How much debt would you be leaving behind that your family will need to be able to pay off?
• Could your children’s educations be paid for?
• Does your partner need a nanny?
• How about any emergency expenses?
• How much coverage can you afford weekly or monthly?
• What is the claims‐paying history of the insurance company, and how is the company rated by industry experts?

Current policyholders are not affected by the pandemic outbreak, since the life insurance companies LifeCovered has partnered with do not contain exclusions for pandemics.

Applications for new policies will be assessed as any other life insurance application. And depending on your medical history, the covid-19 virus might have an effect on your policy.

Medical conditions such as high blood pressure, diabetes, high BMI or even a history of cancer won’t necessarily prevent you from getting life insurance, but you’ll want to shop around to make sure you find the best rates for your health history.

New Zealand law stipulates you must be physically located in New Zealand at the time of advice and application.

An insurer and adviser must comply with the regulations governing the provision of insurance products and advice in the country in which the advice is received, or the product is sold.

In practical terms, this means that a Registered Financial Advisors in New Zealand cannot provide advice or sell a new policy (can increase a current policy) to a client in another country. It also means that an adviser giving advice, for example to a New Zealander who is physically in Australia, would need to be registered and licensed in Australia.