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Life Insurance

Arcadia tells you which Life insurance best fits your circumstance - Click to get a free quote comparison.

What is it? 

Life insurance is a form of protection that offers a cash benefit if you pass away from causes that are covered by your policy, such as an injury or a terminal disease. This payment can help your loved one's cope with financial challenges at a time when they may also be suffering from physical and mental distress.


Why do you need it?

Life insurance is a way of protecting yourself and your loved ones from the financial impact of unexpected events, such as serious illnesses or death. According to the Ministry of Health NZ, some of the common serious illnesses in New Zealand are cancer, heart disease, stroke, diabetes, and chronic respiratory diseases. These illnesses can affect anyone at any age, and can have a significant impact on your quality of life, income, and ability to work.


Statistics show that in 2018, cancer was the leading cause of death in New Zealand, accounting for 29.4% of all deaths, followed by heart disease (19.6%) and stroke (8.4%). In 2019/20, an estimated 9.5% of adults had diabetes, and 15.6% had chronic respiratory diseases.


Life insurance can provide you with a lump sum payment or regular income if you are diagnosed with a serious illness or die as a result of one. This can help you cover medical expenses, pay off debts, maintain your lifestyle, and support your family. Life insurance can give you peace of mind and security for the future. If you are interested in finding out more about life insurance options and benefits, please contact us today.

How to save money on life cover:

  • Stepped vs level premiums: Most people have "Stepped premiums" life insurance, which increases as you get older. It's cheaper at first but gets more expensive. "Level premiums" are another option where costs stay flat until the term ends. You can choose how long you want coverage, such as age to 65 or longer. Level premiums are more expensive upfront but save you money long-term.

  • Quit smoking: Smokers usually pay higher premiums, so quitting smoking can help you save on life insurance premiums.

  • Review your policy regularly with an adviser: Review your life insurance policy regularly to make sure it's still the best fit for your needs. You may be able to adjust your coverage to save money - At Arcadia we offer free annual reviews!

  • Stay Healthy: Staying healthy and staying within the recommended healthy weight range for your body type can help you avoid being charged extra by the insurance companies. 

These are a few basic tips. However, the best way to find out if you can save money is by having a discussion with one of our expert advisers based on your specific circumstance.

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