You’ll need a Kiwibank Home Loan.
Pays off the outstanding balance on your home loan up to $500,000 if:
Death cover +
In addition to death cover, this plan covers you if you get sick or have an accident and can't work. Your home loan repayments (up to $4,000 per month) will be paid for up to two years.
If you’ll never be able to go back to work, your loan will be paid off up to a maximum of $500,000.
Death cover +
Disability cover +
In addition to death + disability cover, this plan pays your home loan repayments (up to $4,000 a month) for up to six months if you’re made redundant.
To add redundancy cover, you need to be working at least 25 hours a week for a single employer. You can’t be self-employed.
Choose to insure:
Here’s a typical example.
Sally is 33. John is 35. They’re both office workers and non-smokers. They have a joint home loan of $180,000. Sally and John have each taken out a policy to cover themselves for 100% of their home loan. That way if anything happens to either of them, the mortgage will be paid off in full.
Here’s what it would cost them:
|Sally - Per month||Sally - Per week||John - Per month||John - Per week|
|Death & Disability||$26.85||$6.20||$28.07||$6.48|
|Death, Disability & Redundancy||$35.04||$8.09||$36.81||$8.49|
Their premiums will adjust as their loan balance adjusts. Talk to us to find out what it’d cost you.
Home loan insurance takes care of your mortgage — but what about the rest of your lifestyle?
Home loan insurance and Life & Living Insurance are designed to go together. To make sure you get the best mix for you and your family, give us a call and we’ll talk you through your options.More about Life & Living Insurance
Home Loan Insurance and Life & Living Insurance is provided by Kiwi Insurance Limited, and Kiwi Insurance Limited is solely responsible for any claims under each 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.
Important terms, conditions and exclusions are set out in the Home Loan Insurance Policy wording (PDF 964.2 kB)
If you took out your Home Loan Insurance policy prior to 13 May 2015 your important terms and exclusions are in this Kiwibank Home Loan insurance policy. (PDF 1.1 MB) Effective to 13 May 2015.
If you took out your Home Loan Insurance policy prior to 4 August 2011 your important terms and exclusions are in this Kiwibank Home Loan insurance policy. (PDF 101.6 kB) Effective to 4 August 2011
Kiwi Insurance Limited has a financial strength rating of A-(Excellent) from A.M.Best Company.
Kiwi Insurance Solvency and Statutory Fund
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.
As at 31 December 2016, the Actual Solvency Capital of Kiwi Insurance Limited was $14.840 million, which gave a margin over the Minimum Solvency Capital of $7.263 million. The breakdown of these amounts is shown in the following table.
|As at 31 December 2016|
|Actual Solvency Capital (A)||14,840,000|
|Minimum Solvency Capital (B)||7,263,000|
|Solvency Margin (A-B)||7,577,000|
|Solvency Ratio (A/B)||204%|
Kiwi Insurance has one statutory fund which constitutes the whole of the company.