Understanding Life Insurance Along With the Services of Brokers in New Zealand

Most people fear taking life insurance covers for the fear of their lives. However, it should not be a worrying matter, and everyone needs to have a life insurance cover alongside their will to guarantee a smooth transition of assets to beneficiaries and eliminate possible disputes. In New Zealand, for instance, several life insurance policies can suit different needs. Here are five major insurance policy covers and the roles of a life insurance broker.

Five major policies for life insurance in New Zealand

Term Life Insurance:

It is a kind of life insurance cover that provides cover for a specific duration. Hence, if the insured happens to die within the stipulated timeframe, then the beneficiaries will receive a lump sum from the insurance provider. The insurance can last as long as the insurer wants, be it 10, 20 or 30 years. It is a good way to ensure financial security for your family should the unexpected happen.

Whole Life Insurance;

Here, the entire life of the insured is covered and they get to grow their cash value as time goes by. The result of this cover is a savings benefit along with benefits that will arise upon the insurer’s demise.

Income protection insurance:

This kind of covers steps in place of your salary or source of income, should you be unable to work due to illness or injury. It ensures that you continue to meet your financial needs while recovering. This gives you peace of mind knowing that your bills and mortgage are being taken care of and gives you enough time to heal.

Trauma Insurance:

Here, when you are diagnosed with a given kind of medical condition, say cancer or stroke, the insurer will step in for your medical bills and all the rehabilitation costs. The insurance provider sorts out all other financial expenses for your medical bills, thus giving you peace of mind and allowing you to heal quickly.

Funeral Insurance:

This is designed to cover all the costs associated with your burial or cremation. Your beneficiaries will be given a lump sum by the insurer to manage all the expenses related to your burial to ensure that you get a proper sent-off without straining your loved ones.

How life insurance brokers help you to get your cover

Following on claim:

The broker will assist your beneficiaries in following up on the lump sum from the insurer should the unexpected happen to you. This gives your family time to mourn and heal from your demise while also ensuring that every expense is being taken care of by the lump sum.

Expert advice:

Life insurance brokers will listen to all your concerns and requirements and give you informed advice on how you should go about the life insurance journey. They will recommend to you the best cover to take and other underlying factors.


Life insurance brokers have access to several life insurers and can help you to get in touch with the insurance provider of your choice at ease, while also helping to get you favourable terms from the connections.

The five major life insurance policies in New Zealand include term life, whole life, income protection, trauma, and funeral insurance. You should consider involving a life insurance broker in your dealings since they help to follow claims, giving expert advice and connection to several insurers. Go to https://www.adelphiinsurance.nz/life-insurance to read up about life insurance.

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