Choosing life insurance can feel a bit like trying to wrap your head around Coralie Fargeat’s cult classic cinematic masterpiece, The Substance. At first, it might seem confusing or overwhelming, but once you break it down, everything becomes clearer. In this blog, we’ll guide you through the key considerations for choosing the best life insurance policy in New Zealand—so you can confidently protect what matters most without the headache. At Quashed, we make the process simple and stress-free for Kiwis.
It’s not one-size-fits-all
Life insurance isn’t a one-size-fits-all situation—it’s more like a well-tailored suit, designed to fit your unique needs at every stage of life. Just as your style evolves, so do your life insurance requirements.
Here are some key life moments where the right coverage makes all the difference:
Buying your first home: If you’re purchasing a house, life insurance becomes essential. A life insurance policy can ensure your mortgage is covered if the unexpected happens, protecting your family’s financial stability and ensuring your home stays in safe hands.
Career milestones: As your career progresses, your financial responsibilities may grow. Whether you’ve landed a promotion or started your own business, consider reviewing your life insurance to ensure your coverage aligns with your current income and obligations.
Empty nesters: Once your children are financially independent, your insurance needs may change. You might decide to adjust your coverage, focusing on protecting your partner or planning for final expenses. It’s an opportunity to reevaluate your priorities and ensure your policy reflects your new stage of life.
Understanding how your needs evolve over time is key to staying properly covered. At Quashed, we make it easy for Kiwis to review and adjust their life insurance, ensuring you always have the right coverage for life’s twists and turns.
Curious for more? Check out our 'Further Reading' section for extra tips and insights.
Compare like a pro: Time to be the director
Once you’ve identified your unique insurance needs, the next step is finding the right policy. That’s where Quashed comes in. Quashed acts like your assistant producer, guiding you through the scenes of your life insurance journey. With Quashed, you can easily compare life insurance policies in New Zealand side-by-side, cutting through the jargon and complexity. It’s like comparing The Shawshank Redemption to Pulp Fiction—spotting the differences, identifying what resonates, and choosing the best option for your needs.
Here’s where Quashed really shines: real-time life insurance comparisons. Say goodbye to switching between endless tabs or scouring multiple websites for hard-to-find details. Quashed brings together policies from top providers in NZ, giving you a clear and detailed overview in seconds. Whether you’re after affordable coverage or tailored protection, Quashed makes it simple and stress-free.
Want to know more? Head to our 'Further Reading' section for more tips and info.
Consider the providers: choose the best cast for your blockbuster
A great movie is only as good as its cast, and the same goes for life insurance providers. You wouldn’t want to cast a drama actor in a comedy, so why settle for a provider that doesn’t meet your needs? The top life insurance providers in NZ are those that align with your lifestyle, health, and future goals.
When comparing providers, think about their reputation, claims process, and policy flexibility. It’s like picking your dream movie cast—each provider needs to bring something valuable to the table. At Quashed, we simplify this process by partnering with trusted New Zealand providers and giving you the tools to compare life insurance policies side-by-side.
With Quashed, you can quickly see which provider fits your needs and confidently take the next step toward protecting what matters most.
Life insurance without the faff
Getting married? Buying a house? Life changes fast, and your insurance needs to keep up.
At Quashed, we simplify life insurance by helping you compare personalised quotes from New Zealand's top providers—quickly and completely free. With real-time comparisons and expert tools, you’ll have everything you need to find the right cover, stress-free.
Whether you're getting your first policy or reviewing your current cover, we’ll help you find the right protection for your next chapter.
Sign up now to get started and compare life insurance policies in under five minutes.
Further reading
Here are some great reads:
Life insurance intro: The what and the why of life insurance
Life insurance at different life stages: How life insurance needs change over time
Life insurance blunders: Mistakes to avoid
Smoking and life insurance: How smoking affects premiums
Cost of life insurance: Understanding life insurance costs
FAQs
Is it worth having life insurance?
Life insurance is worth it in New Zealand if you have dependants, a mortgage, or significant debts. It ensures your family’s financial stability if something happens to you. For single individuals, it may be less essential unless you’re covering funeral costs or leaving a legacy.
What factors should I consider when deciding how much life insurance I need?
Consider these factors:
Outstanding debts (e.g., mortgages, loans)
Living expenses for your family
Future costs like education for your children
Funeral expenses
A common guideline is to cover five to ten times your annual income, but your needs may vary. Seek financial advice if you are unclear.
Does ACC cover accidental death, or do I still need life insurance?
ACC provides some financial support for accidental death, such as payments to dependents. However, it doesn’t cover non-accidental deaths or provide comprehensive financial security like life insurance does. Life insurance is still essential for broader coverage.
Which provider has the best life insurance policies?
The best life insurance provider in New Zealand varies based on your needs. Consider factors like policy flexibility, claims process, and cost. Comparing providers on platforms like Quashed can help you find the right fit for your situation.
How does smoking affect life insurance costs?
Smokers often pay up to 50% more for life insurance premiums because of higher health risks. Quitting smoking for at least 12 months can significantly reduce your premiums.
Is life insurance worth it if I’m single or have no dependents?
Life insurance may not be as crucial if you’re single with no dependents. However, it’s still worth considering if you want to cover your funeral costs or leave a financial legacy for loved ones.
Is income protection or trauma cover more important than life insurance?
It depends on your situation. Income protection and trauma cover provide financial support if you can’t work due to illness or injury, which may be more relevant during your working years. Life insurance, on the other hand, ensures your family is taken care of if you pass away. Many New Zealanders choose a combination of these covers.
What happens to my life insurance if I stop paying premiums?
If you stop paying premiums, your policy will lapse, and you’ll no longer have coverage. Some policies have a grace period to catch up on missed payments, but it’s best to contact your insurer to discuss options if you’re struggling to pay.
Can Quashed help me?
Yes! Quashed helps you find life insurance policies for your needs. Our real-time tool ensures you're always getting the most current information. This is what makes us different. Visit our blog to learn more.
The information provided in this FAQ is for general informational purposes only and does not constitute financial advice. Insurance policies, coverage options, and pricing may vary based on individual circumstances and provider terms. For full details, please refer to our Terms and Conditions and consider seeking professional financial advice to determine the best solution for your needs.
