Protect your children's future - comprehensive coverage from $45/month
University education can cost $50,000-150,000 per child in NZ. Private school adds another $200,000+ over 13 years.
Food, clothing, healthcare, activities, and technology needs continue for 18+ years. These costs increase with age.
If a parent dies, the surviving parent may need to pay for childcare to continue working - $15,000-25,000 per child annually.
Ensure your family can stay in their home. Mortgage protection plus living expenses require substantial coverage.
Situation: Combined income $120,000, $450,000 mortgage, one child
Recommended Coverage: Each parent: $600,000-800,000 to cover mortgage, childcare, and income replacement until child is independent
Key Considerations: Consider increasing coverage as income grows and if planning more children
Situation: Combined income $150,000, $500,000 mortgage, multiple children ages 3-12
Recommended Coverage: Primary earner: $1,000,000-1,500,000. Secondary earner: $400,000-600,000
Key Considerations: Factor in rising education costs and longer dependency period
Situation: Single income $80,000, mortgage $400,000, 2 children
Recommended Coverage: $800,000-1,200,000 to ensure children's care and education without financial stress on guardians
Key Considerations: Critical coverage - no backup income. Consider guardian's ability to work while caring for your children
Situation: Combined income $180,000, mortgage mostly paid, children 15-18
Recommended Coverage: Can start reducing coverage but maintain enough for university costs and final expenses
Key Considerations: Consider children's university plans and any remaining financial dependence
Costs increase significantly with age - secure coverage early to lock in lower rates
Get Your Personalized QuoteBased on 8-15 years of service replacement until children are more independent
This coverage ensures the working parent can afford professional services or reduce work hours to care for children personally.
Increase coverage when you have additional children, buy a larger home, or your income increases significantly. Review every 2-3 years.
Term life insurance is usually best for parents - it's affordable and provides maximum coverage during your children's dependent years.
Choose guardians who can handle both the emotional and financial responsibility. Ensure they understand your insurance will provide financial support.
Review beneficiaries after major life events. Consider setting up a trust for minor children to ensure proper financial management.
You're more likely to become disabled than die during your working years. Consider income protection insurance alongside life insurance.
University costs increase faster than general inflation. Factor in higher education expenses when calculating coverage needs.
Get personalized life insurance quotes designed for New Zealand families