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Home loan insurance

Benefits

Your cover is provided by Kiwi Insurance Limited, and includes:

• Simple application process – you can apply at any Kiwibank branch or by calling Kiwi Insurance on 0800 222 491. You’ll be asked a few questions and in many cases Kiwi Insurance will be able to confirm your cover immediately.
• Terminal illness cover – if you’re diagnosed as terminally ill by a registered medical practitioner, with death likely to occur within 12 months, your home loan balance will be repaid to a maximum of $500,000 plus any additional life cover you’ve added to your policy.
• Cover for both of you – if you have a joint home loan, you can cover your partner as well under their own policy. This means that if anything happens to either of you, the other partner and your family can rest assured that payments on your home loan will be taken care of.
• Choice of cover level – you can insure more or less than 100% of your loan. The options available are 50% and 75% of your loan which may be suitable if you already have some insurance or the loan exceeds $500,000. You can also choose to insure up to 125% of your loan if you want a little extra paid out to help with other expenses during a difficult time.
• Premiums – your premiums adjust with your age, the balance of your loan and your current loan repayments. You can choose to pay your premiums weekly, fortnightly or monthly in line with your loan repayments.
• Insure more than one home loan – if you have more than one Kiwibank home loan you can cover them all under the one policy. (Note that there are maximum amounts that will be paid for each of the cover types.)
• Free look period – you’ll have 30 days to consider the policy. If you decide the cover isn’t right for you and cancel your policy within 30 days of the commencement date, any premiums you’ve paid will be refunded.

Important terms, conditions and exclusions are set out in the Home Loan Insurance Policy (PDF 1.6 MB).

Eligibility

You can apply for cover if you:

• live in New Zealand
• have a Kiwibank Home Loan
• are aged between 18 and 64

If you’re applying for Redundancy cover you must be in paid employment working at least 25 hours a week with a single employer. You can’t get Redundancy cover if you’re self-employed.

Your cover for all benefits continues until you turn 66, as long as you keep paying your premiums.

Apply now

Call Kiwi Insurance on 0800 222 491 (9am – 6pm Monday to Friday, or 10am – 2pm Saturday) and they can complete the application process over the phone – or visit your local Kiwibank.

You can also download and complete a Home Loan Insurance Application form (PDF 166 KB) and send it to: Kiwi Insurance Limited, Private Bag 39888, Wellington 5045.

Make a claim

To make a claim, call Kiwi Insurance on 0800 222 491 between 9am – 6pm Monday to Friday, or 10am – 2pm Saturday.

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