Do you need Life & Living Insurance?

If you have a family or debt, you probably need some Life insurance — and unless you’ve got loads of savings, you should probably think about some Living insurance too. Basically, you want to make sure that if you die or get really sick and can’t work, the people you care about will have enough money to keep living comfortably.

Life insurance

If you were to die would there be enough money to cover your:

  • family's immediate living costs - things you spend money on day to day like food, transport and electricity
  • existing debts - things like your mortgage, credit cards and personal loans
  • funeral expenses

If you've got children you'll need to think about:

  • childcare costs if your partner were to become a single parent
  • how many of your household expenses your partner could handle alone
  • your children’s education.

Living insurance

If you were unable to work because of illness, or if you were made redundant, would you have enough money to cover:

  • your current income. If you were to receive a disability benefit from WINZ, you’ll need to ask yourself if it’ll be enough to live on, to feed your family, pay the bills and keep your home.
  • your family's immediate living costs - things you spend money on day to day like food, transport and electricity.

Who doesn’t need Life insurance?

If no one depends on you financially, you might not need Life insurance. But remember that if you die in debt, your debts might be passed on to your estate if your savings don’t cover them including funeral costs.

Who doesn’t need Living insurance?

If you’ve got enough savings to cover your living costs, if you weren’t able to work for a long period of time due to a serious illness, then you might be able to get by without Living insurance, or with a reduced level of cover.

Find out more

Work out what it might cost

Get an idea of what kind of insurance and cover could work for you, and how much it could cost. You can compare your calculation with other Kiwis in a similar situation. It should take a couple of minutes and when you’re done we can email you with the results.

Life & Living Insurance tool

Interested? Let's talk

Get in touch or apply now

Insurance tips and advice

  • Know what you have — make sure you’re not doubling up on any cover
  • Always read your policy and understand what you’re covered for and what’s excluded
  • Be honest when you apply — your claim could be declined in years to come because you omitted something you thought wasn't worth mentioning when you applied.