The role of insurance in Kiwis’ life

As New Zealand continues to navigate through unpredictable times, financial protection has become increasingly crucial. And in a country where the population numbers are slightly over five million, insurance plays a significant role.

The latest quarterly snapshot from the Financial Services Council (FSC) paints an intriguing picture of the country's life insurance sector, a vital piece in the larger financial security puzzle for millions of Kiwis.

A healthy life insurance sector

With 4.1 million life insurance policies – including life insurance, trauma and income protection – the sector continues to make a difference to New Zealanders’ lives.

When it comes to claims, in the quarter ending March 2023, life insurers paid out over $300 million, marking an increase from the $275 million paid out during the same period ending December 2022.

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Weathering the storm

Whether it’s life insurance, trauma cover, or income protection insurance, each solution offers different benefits designed to safeguard your future financial wellbeing. As insurance advisers, we can help you navigate this landscape based on your unique circumstances and goals.

If you have any questions about your coverage, new or existing, please don’t hesitate to contact us.‍

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The information contained in this publication is intended for general guidance and information only. It has not been personally prepared for you. Therefore, you should not act on this information if you have not considered the appropriateness of this information to your personal objectives, financial situation and needs. You should consult with us before making any investment decision. Historical market performance may not be indicative of future market performance.