Life Insurance provides for those you leave behind if the worst happens to you. It will help to pay for whatever they need, for example the mortgage, food, the bills and your children's education (if you have them). Other questions you might have been asking yourself are ...
If anything happens to me or my partner, how can we make it as stress free for the family as possible? Dealing with grief will be hard enough, without having to worry about paying the bills. Having Life Insurance will mean your family won't need to worry. There will be enough money to pay for what they need. Use our calculators if you need help working out how much you need.
I don't have kids do I still need Life Insurance? If you don't have children, and aren't planning on having any, you may still want Life Insurance to pay off your mortgage, or any other debt you may have, so that you don't add any additional financial stress to family you leave behind.
Why do I need to answer so many questions? By answering the health and lifestyle questions we, at Pinnacle Life, get an understanding of how healthy you are and how risky your lifestyle is. We use this information to work out your individual risk of dying relative to other people just like you. In turn we use this information to determine your premium.
How do I work out what I need? Use our calculators.
How much cover have others asked for?
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Here's what level of cover 35 year old females have asked for quotes on:
At Pinnacle Life, while we don’t give you personalised advice on life insurance, we thought you might be interested in knowing how much life cover other people your age have been asking for quotes on from New Zealand life insurance companies.
We’ve accessed over 70,000 life insurance quotes that Kiwis have asked for over a two year period. Once you let us know your gender and age, we will show you the information that is relevant to you.
Disclaimer
* Data is provided by Chatswood Consulting Limited and is based on quote data for the period January 2021 to December 2022. This information is not personalised advice and is not a recommendation to purchase a certain level of life insurance.
What type of cover do I need?
Everyone is different and how much your family needs depends on things like how much debt you have, how much you earn, how many children you have (or plan to have) and how much you can afford.
Looking at what other people with similar needs have considered, might help you work out what you need. This table shows you what other people in a similar situation have for quotes on.
To help us give you as relevant information as possible, please choose the annual household income range (before tax) that bests fits where you think you will be, or are today:
Up to $39,199
$39,199 - $73,400
more than $73,400
Type of coverAverage level of cover asked about
Life Cover
$430,000
This cover provides for those you leave behind and helps them pay the mortgage, invest in your children’s education, put food on the table and pay the bills.
This cover provides you with a regular monthly payment to help replace your income if you are unable to work due to illness or injury. It provides for you and your family through this tough time.
* Data is provided by Chatswood Consulting Limited and is based on quote data for the period July 2020 to June 2022. This information is not personalised advice and is not a recommendation to purchase a certain level of life insurance.
Type of coverAverage level of cover asked about
Life Cover
$400,000
This cover provides for those you leave behind and helps them pay the mortgage, invest in your children’s education, put food on the table and pay the bills.
This cover provides you with a regular monthly payment to help replace your income if you are unable to work due to illness or injury. It provides for you and your family through this tough time.
* Data is provided by Chatswood Consulting Limited and is based on quote data for the period July 2020 to June 2022. This information is not personalised advice and is not a recommendation to purchase a certain level of life insurance.
Type of coverAverage level of cover asked about
Life Cover
$500,000
This cover provides for those you leave behind and helps them pay the mortgage, invest in your children’s education, put food on the table and pay the bills.
This cover provides you with a regular monthly payment to help replace your income if you are unable to work due to illness or injury. It provides for you and your family through this tough time.
* Data is provided by Chatswood Consulting Limited and is based on quote data for the period July 2020 to June 2022. This information is not personalised advice and is not a recommendation to purchase a certain level of life insurance.
It might be cheaper than you think. Premiums start from $15.60 a month.
What else should I be thinking about?
This list isn’t exhaustive, but it is a good starting point! You’ll find below the top questions that we think you might want to ask any insurance company, and what they mean.
What am I not covered for?
It’s important to know not only what you are covered for, but also what you aren’t covered for.
At Pinnacle Life it’s slightly different for each type of policy. Click here for a summary by product.
Why can’t my premiums stay the same?
Some companies do offer what is called “level premiums” which means that for a fixed period you pay the same amount. These typically start higher than other premiums, so ensure you understand the total cost over the fixed period.
Pinnacle Life doesn’t offer ‘level premiums’ as a standard offer, but if you have an existing ‘level premium’ policy or quote from another company, we are happy to look to see if we can match it.
We’ll not make any payment under this policy if the insured person’s death or illness results from their
suicide or self-inflicted injury occurring within the first 13 months of the policy being issued
participation in base jumping, trans-ocean solo-sailing, caving, canyoning
deployment in the armed forces/peace corps or as a journalist or news cameraman outside NZ, Australia, UK, Ireland, USA, Canada, Hong Kong or Singapore
Funeral Cover
No exclusions, but if you claim within the first two years you only get a refund of premiums paid, not the full amount. This is pretty standard across the New Zealand Market.
Income Protection
We'll not be liable to pay an Income Protection claim under this policy, if the claim was directly or indirectly contributed to or caused by:
a Mental Illness
being made Redundant
the Insured Person failing to follow reasonable medical advice to prevent, minimise or recover from the Illness or Injury that caused them to be Unable to Work
normal pregnancy (including participation in an IVF or similar program, normal discomforts such as morning sickness, backache, varicose veins, ankle swelling or bladder problems), giving birth, miscarrying or having a pregnancy terminated
the use of drugs, unless taken as prescribed by a Doctor
participation in an unlawful act, including driving with excess blood alcohol levels
a self-inflicted injury
an act of war, civil war, terrorism, invasion, strike, riot, civil commotion, rebellion, revolution, insurrection, hostilities, military coup or usurped power, either within NZ or when travelling abroad
suicide occurring within the first 13 months of the policy being issued
participation in base jumping trans-ocean solo sailing caving or canyoning
deployment in the armed forces/peace corps or as a journalist or news cameraman outside NZ, Australia, UK, Ireland, USA, Canada, Hong Kong or Singapore
We try and make things as quick and easy as possible, from getting a quote - to making a claim.
Designed with you in mind
We were the first in the world to offer life insurance totally online, allowing you to buy when you want, without the hassle of filling out paper forms.
More for less
Because we keep things simple, it costs less to run our business, so we can offer you lower premiums.
