How it works

Life & Living Insurance is insurance you can understand. You can tailor your cover yourself, so you know exactly what you’re paying — and what you’ll get paid.

Life Account

This is paid out in full if you die or become terminally ill. You can specify who gets the money if you die, and they’ll be able to get up to $10,000 in cash quickly to deal with immediate expenses.

Living Account

Lots of things can happen that don't kill you. You might survive an accident or illness, but be off work for months – or even forever. Your Living Account is paid out in instalments if you’re sick or injured, and as the balance goes down, you’ll pay less for it in premiums.

Here’s an example

If you die or are diagnosed as terminally ill
We’ll pay your Life Account in full
If you’re totally and permanently unable to work through sickness or injury
We’ll pay your Living Account in full
If you’re totally but temporarily unable to work due to sickness or accident
We’ll pay a monthly allowance from your Living Account, reducing your total balance.
If you experience a cancer or cardiovascular conditions that we cover
We’ll pay you a portion of your Living Account, depending on the severity and type of condition. You may be able to claim more than once. Each paid claim will reduce the balance of your Living Account.


Choose what you need

You’re in control. Tailor your accounts to suit you, change what your Living Account pays out for — or drop it altogether if you just need life insurance.

We can help if you are not sure what you need or if you want a more traditional life insurance product, give us a call and we can talk through your options.

Add redundancy cover

Add redundancy cover to help bridge the gap if you’re suddenly made redundant. It’ll cover your expenses for up to six months — and you don’t have to dip into your Living Account.

Work out what it might cost

Have a play with the calculator to see how much it could cost you, and what you’d get paid if you couldn’t work.

Life & Living Insurance Calculator

Not sure what you need?

We’ve put together a handy guide to help you decide what cover you might (or might not) need, and what you might get if you had to make a claim. You can also check out examples of how it might work for some typical kiwi families.

We highly recommend you read our Life & Living Insurance fact sheet (PDF 77.7 kB). It provides valuable information, that can help you decide what’s right for you.

Guide to Life & Living Insurance

Making a claim

Call us on 0800 222 491. The insurance team are available 8:30am to 5pm, Monday to Friday.

A claim needs to be lodged within six months of the policy-holder dying or getting sick. When you call, you’ll be assigned a specialist who you’ll be able to deal with directly until the claim’s resolved.

When you call to make a claim, we’ll talk you through exactly what we need.

Interested? Let's talk

Get in touch or apply now


You must live in New Zealand. For a Life Account, you must be aged between 18 and 70. For a Living Account or Living+ benefits, you must be 18-60 and also have a Life Account. If you continue to pay your premiums, your Living Account can continue to age 65 and your Life Account to age 80.


"We", "us" or "our" means Kiwi Insurance Limited.

Important conditions and exclusions are set out in the Life & Living Insurance Policy (PDF 182.4 kB)

If you took out your Life & Living Insurance policy between 15 November 2012 and 13 May 2015 important terms and exclusions are in this policy Life & Living Insurance Policy. (PDF 269.9 kB) Effective between 15 November 2012 - 13 May 2015.

Kiwi Insurance

Life & Living Insurance is provided by Kiwi Insurance Limited and Kiwi Insurance Limited is solely responsible for any claims under the policy. Kiwibank Limited does not guarantee the obligations of or any products provided by Kiwi Insurance Limited. Kiwibank Limited may receive a commission on any policy it arranges.

Kiwi Insurance Limited has a financial strength rating of A-(Excellent) from A.M.Best Company.

Rating Scale


  • A++, A+ Superior
  • A, A- Excellent
  • B++, B+ Good


  • B, B- Fair
  • C++, C+ Marginal
  • C, C- Weak
  • D Poor


  • E Under Supervision
  • F In Liquidation
  • S Suspended

Like all insurers in New Zealand, Kiwi Insurance Limited is required to meet solvency standards which are determined by the Reserve Bank of New Zealand.

Kiwi Insurance has one statutory fund which constitutes the whole of the company. As at 31 December 2015, the Actual Solvency Capital of Kiwi Insurance Limited was $14.069 million, which gave a margin of $8.618 million, over the Minimum Solvency Capital of $5.451 million. The Reserve Bank requires the Minimum Solvency Capital to be $5 million or more. The breakdown of these amounts is shown in the following table.

As at 31 December 2015
Actual Solvency Capital (A) 14,069,000
Minimum Solvency Capital (B) 5,451,000
Solvency Margin (A-B) 8,618,000
Solvency Ratio (A/B) 258%

Life Insurance before 14 November 2012

If you have Life Insurance and your cover started or you made an application before 14th November 2012, your insurance is provided to you by Kiwi Insurance Limited and Kiwi Insurance Limited is solely responsible for any claims under the insurance policy. Kiwibank Limited does not guarantee the obligations of, or any products provided by, Kiwi Insurance Limited.

To make changes to your policy or to make a claim, call us on 0800 222 491 between 8:30am and 5pm, Monday to Friday.
See your policy for full details of your cover: Life Insurance policy (PDF 693.4 kB)