KiwiCover™

What sort of life insurance do you get when you combine low cost and high quality features, design it specially for Kiwis and add loads of flexibility, back it with a rock-solid financial rating and then pay a 25% kick-start subsidy? What you get is KiwiCover™, the Best in Life™.

KiwiCover™ is packed with features. Not only do you get 24 x 7 worldwide cover, but you normally get it without having to undergo any medical examinations or tests: up to $1 million in cover if you are age 50 or less, and up to $500,000 in cover if you are over age 50. What's more, your cover will never expire unless you choose to stop it. That's right, there is no upper age limit to your cover.

KiwiCover™ comes with all of the following built-in features:

24 x 7 worldwide cover;
All occupations eligible, including no occupation;
Normally no medical checks or tests for amounts of cover up to:
- $1 million if you are under age 50;
- $500,000 if you are over age 50.
Cover available up to a maximum of $10 million;
A straightforward application form and assessment process;
Flexible premium payments by credit card or direct debit:
- Weekly, fortnightly, monthly or yearly, and you choose the date;
A 15-day free-look period after you receive your policy;
Yearly renewable term cover:
- Each year, pay only the rate for your actual age;
- You choose whether to continue, reduce or stop your cover;
- No upper age limit—you can keep renewing your cover indefinitely.
Future proof—a Guaranteed Enhancement Benefit means that, if any change is made in the future to a section of the policy for which you are covered, and the change is favourable to you, then that change will automatically be applied to your policy;
If you choose, automatic inflation increases are applied to your cover every year without any health information required for the increases;
Special events increases—increase your cover without any health information required on any of the following events occurring:
- Marriage;
- Birth or adoption of a child;
- Getting a loan, or increasing one, for a new home;
- Financially supporting a dependent child through a full-time course of tertiary study;
- Paying for, or caring full-time for, the long term care of a close relative.
The full sum insured is paid either on death or on diagnosis of a terminal illness, and it is paid:
- Directly to the policy owner or the policy owner’s estate;
- As a tax-free lump sum.
A Bereavement Support Benefit of $15,000 is paid immediately on written advice that the life insured has died. No need for death certificates or any other paperwork. The benefit is part of the total death benefit payable;
A Financial Advice Benefit of up to $1,500 is payable (as an additional benefit), following payment of a death or terminal illness benefit, to pay for financial advice received from an accredited provider;
A Children’s Funeral Benefit of $2,000 is payable if any child of the life insured between the ages of three and 10 dies due to an accident. The benefit is part of the total death benefit payable;
A Repatriation Benefit of up to $20,000 is payable for the return to New Zealand of the body of a life insured who dies while overseas. The benefit is part of the total death benefit payable;

Important note: The above is a summary of the key features of KiwiCover™, with many of the above features being subject to conditions. Please refer to the policy document, schedule and appendix to ascertain all of the conditions applying to each feature. All applications for insurance are subject to assessment by the insurer, and some applications may be declined or subject to special terms, such as specified exclusions and/or premium loadings. The information provided above is of a general nature only and is not intended to be advice of the type which you could obtain from a Registered Financial Adviser.

KiwiCover™

For Individuals