Life Insurance New Zealand – All You Want to Know About
Life Insurance New Zealand All You Want to Know About
What is life insurance?
Life insurance is a lump sum paid out in the event of your death or terminal illness. This allows family and dependants to be financially secure in the event of your death. Important to note that there is suicide exclusion imposed for the first 13 months of when you commence a policy.
Do any of these describe your situation?
1. Married or in a defacto relationship:
2. You have a mortgage:
3. You are a single parent
4. You are a stay at home parent:
5. Your children are now adults and you are debt free
6. Your parent(s) depend on you financially
7. You are single:
8. You own your own business:
How much will Life Insurance cost?
This will depend on a number of factors:
The type of insurance you take out
How much cover you need
Your past & current health status
Your age
Your gender
Whether or not you smoke
Don't compare different companies' policies by their price. Look at the details of the policies.
5 key features:
1. Life Cover to protect your client's family or business.
2. Guaranteed level premiums for 20 years.
3. O ption to terminate the policy and opt for a partial return of premiums from year 6. The longer the Cover is retained, the higher the premium return will be.
4. 100% return of premium at the end of the 20 year anniversary of the policy, including all Life Cover premiums and optional Waiver of Premium, including GST.
5. The policy terminates at the end of the 20 year term.
Key benefits
Cash Back Life Cover:
Provides a lump sum paid in the event of death or up to 100% return of premiums paid.
Gives clients with a specific time-bound goal orneed, the ability to protect against death during that time or exercise the premium return option from year 6 onwards.
Guaranteed level premiums provide certainty of affordability for personal customers and business owners.
Peace of mind your client knows they have cover for the next 20 years.
For business owners it can cover long-term debt.
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