Life Insurance.
Life cover provides financial security when a loved one passes away unexpectedly. It ensures that families can meet their financial needs, pay debts, and maintain their quality of life, even in challenging times.
Who should consider Life Insurance?
Parents
Parents with children, especially young ones, should consider life insurance to ensure the children's futures are financially protected.
Homeowners
If you have a mortgage or other significant debts, life insurance can protect your family from losing their home, as a result of unexpected death.
Breadwinners
In the event of sudden death, life insurance can replace your income and maintain your family's standard of living.
Business owners
Business owners may need life insurance to protect their businesses and to ensure a smooth transition of ownership in case of their death.
People with debt
If you have significant debts, life insurance can prevent your loved ones from inheriting your financial obligations.
People with large estates
People with substantial assets may use life insurance as part of their estate planning strategy to minimise estate taxes and facilitate transfer of wealth to heirs.
Not sure what you need?
We can help. Our advice is free*. Book your 15 mins chat below.
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Frequently asked questions related to Life Insurance.
* Are there any fees / charges for the insurance advice I receive from Vive?
Our insurance advice to you is free of charge. This is because we are usually paid a commission by the insurer that fits your needs and budget best, for implementing your policy.
However, fees may apply in these cases:
Policy Cancellation: If you cancel your policy within 24 months of inception, a fee may apply for the financial advice provided, to compensate for the time and resources used.
Policy Transfer: A $500 (GST inclusive) fee for transferring your policy to Vive without a review.
No Commission: If the insurer doesn’t pay a commission.
Fees are $250 per hour (GST inclusive), with a two-hour minimum (capped at ten hours). Any applicable fees will be communicated upfront before advice is provided.
What is life insurance, and why do I need it?
Life insurance is a financial product that provides a payout to beneficiaries upon the policyholder's death. You may need it to financially protect your loved ones, cover debts, or provide for your family's future.
How much life insurance do I need?
The amount depends on your individual circumstances, such as your income, expenses, debts, and financial goals. A financial adviser / insurance adviser can help you determine the appropriate coverage.
How are life insurance premiums calculated in New Zealand?
Premiums are based on factors like your age, health, smoking status, coverage amount, and policy type. Healthier individuals generally pay lower premiums.
Is life insurance payout taxable in New Zealand?
Life insurance payouts are typically not taxable in New Zealand, but it's essential to consult with a tax professional to understand your specific situation.
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Avondale, Auckland 1026.
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