INSURANCE

Health insurance

Everything you’ve built, your savings, your investments, your family’s security, depends on one thing you can’t fully control: your health. The right cover protects your wealth when your body can’t. The wrong policy just adds another bill.

240+ Google Reviews

5.0

Foundation of trust

You join thousands of New Zealanders who have gained greater control over their financial future, and entrust our advice when investing over $1 billion. We are trusted by major government departments and leading companies nationwide, and you can trust us, too.

Designed for you

You receive a bespoke roadmap built for your goals.

Since our ownership is independent of any product provider, your plan is supported by a model designed to reduce the outcome-linked incentives that can exist in some advice firms.

Boutique advice on a national scale

Your adviser is backed by a team of specialists who review and challenge every recommendation before it reaches you. Large enough for real accountability. Focused enough to know your name.

Connect via video call or at our Auckland and Christchurch hubs for a truly boutique experience.

Your total financial picture

Whether it involves complex investment portfolios or just the basics, your finances should be a cohesive picture. We make sure the left hand always knows what the right is doing.

The Widening Gap in New Zealand’s Public Health System

New Zealand’s public system covers a broad range of services at no direct cost. Hospital care, specialist appointments, cancer treatment, and ACC-funded accident care are all available when referred by a GP. The system is well designed. The problem is capacity.

As of early 2025, tens of thousands of patients were waiting longer than four months for a first specialist assessment through Health New Zealand. Orthopaedics, ophthalmology, and general surgery consistently record the longest delays. For someone living with a deteriorating hip, worsening cataracts, or chronic endometriosis, being classified as “non-urgent” does not mean pain-free.

At the same time, healthcare costs are climbing faster in New Zealand than in most comparable countries. Insurers have responded with premium increases, and many people are questioning whether their cover is still worth it. Our view: the cost of being uninsured, or under-insured, is almost always higher. For more on this, read our guide on why you should never cancel health insurance.

Covering the Cost of Non-Pharmac Treatments

Pharmac is the government agency deciding which medicines are subsidised. Its budget is finite, and New Zealand funds fewer cancer and blood cancer medicines than Australia and most OECD peers.

Treatments outside the Pharmac schedule can cost $5,000 to $10,000 per cycle, with total bills sometimes reaching six figures. Without the right cover, meeting these costs means liquidating savings, borrowing against property, or relying on fundraising. None of those options are consistent with preserving the wealth you’ve spent years building.

Critically, not all health insurance policies cover non-Pharmac treatments as standard. Some of New Zealand’s largest providers, including certain Southern Cross and nib policies, exclude non-funded cancer medicines from their base cover. Policyholders may only discover this when they need it most. Checking your non-Pharmac position is the single most important thing you can do with your health insurance today.

Not sure what your policy actually covers?

A complimentary review will confirm whether your cover matches your needs.

Review my cover

ACC Is Not Health Insurance

ACC covers treatment costs arising from accidents. It does not cover illness, age-related conditions, or mental health treatment unrelated to an injury. A cancer diagnosis, heart condition, or degenerative joint issue all fall outside ACC’s scope.

It is also worth understanding the distinction between health insurance and income protection. Health insurance pays the hospital. Income protection pays your mortgage and living costs while you recover. Most people need both, and your adviser can make sure the two work together. For a detailed comparison, see our guide on ACC versus income protection.

Why Buying Health Insurance Online Can Backfire

Several insurers offer the ability to purchase cover online. For a straightforward, healthy applicant in their twenties, this can work. For most other people, it introduces risks.

Health insurance policies vary meaningfully in benefits, exclusions, premium escalation rates, and claims processes. Purchasing online means relying on your own interpretation of the fine print. Any inaccuracy or omission in your application can give the insurer grounds to decline a claim years later.

An adviser does more than compare policies. When underwriters push back on a condition, an adviser advocates on your behalf, sometimes securing cover an online application would have automatically declined. You do not get this when you buy direct.

What the Right Health Cover Actually Means for You

Speed. You choose your specialist, your hospital, and when treatment happens. No waiting months in pain while the public system works through its queue.

Certainty. You know what is covered before you need it. No surprises when the diagnosis arrives and no scramble to fund treatment your policy excludes.

Wealth protection. A serious illness can undo years of careful saving and investing. The right policy ensures your treatment is funded without drawing down your retirement savings, selling assets, or taking on debt. This is the connection most people miss: health insurance is not just a health product. It is a wealth preservation tool.

How a Become Wealth Adviser Helps

Our advisers are salaried, with no commission-based incentive to favour one insurer over another. The recommendation is based on your circumstances, full stop.

We compare policies across the New Zealand market, looking at benefits, exclusions, premium sustainability, and claims track records. Where you already hold cover, we review it first. Sometimes the best advice is to keep what you have.

If you do need to claim, your adviser handles the paperwork, follows up with the insurer, and makes sure your entitlements are met. Because Become Wealth is not owned by a bank or product provider, your health cover sits within your broader financial picture alongside your life insurance and investments. This is the advantage of working with a firm licensed to make investment decisions on your behalf, with over $1 billion in client funds under advice.

Pre-existing Conditions

Most insurers will not cover conditions you already have when applying. The specifics vary: some New Zealand insurers offer partial cover after an exclusion period, while others exclude pre-existing conditions entirely.

If you have a pre-existing condition, the timing and wording of your application matter. An adviser who knows each insurer’s underwriting criteria can find the most accommodating option and ensure your application is complete.

Already Have Cover? Review It

A policy purchased five years ago may no longer match your circumstances. Common issues found during reviews include missing non-Pharmac cover, excess levels set too high or too low, and premium escalation clauses you may not have noticed at sign-up.

A review takes less time than most people expect.

Paying premiums but unsure what you’re covered for?

A quick review confirms whether your cover is working for you.

Book a review

Man in a blue suit smiling during a conversation

Man in a suit sitting with a laptop in an office

Person sitting in a modern office lounge area

‍How It Works

Our advice process follows a structured six-step framework designed to make sure nothing is missed and every recommendation is peer-reviewed before it reaches you. Start with a relaxed initial conversation, completely at your pace.

FAQ: Health Insurance in NZ

How much does health insurance cost in New Zealand?

It varies by age, cover level, excess, and insurer. Premiums have risen sharply across the industry over the past two years. A good adviser can structure your cover so you are paying for protection you will actually use, not subsidising features you will never claim on

Does my policy cover non-Pharmac cancer treatments?

Not necessarily. Several major New Zealand insurers exclude non-funded medicines from standard cover. Given these treatments can cost $5,000 to $10,000 per cycle, this is the first thing to check. If your policy has a gap, it can usually be closed with an add-on or a switch to a more comprehensive plan.

Should I take out health insurance if I’m young and healthy?

Premiums are lower when you are younger and have no pre-existing conditions. Waiting until something develops means exclusions, higher premiums, or declined cover. The New Zealand market rewards people who get in early.

What is the difference between health insurance and ACC?

ACC covers injuries from accidents. It does not cover illness, age-related conditions, or elective procedures. A cancer diagnosis or degenerative hip condition falls outside ACC entirely. Health insurance fills the gap.

Can I keep my current policy and still get advice?

Yes. We review your existing cover first. If it is doing the job, we will say so. If there are gaps or better options, we explain what the change involves before you decide anything.

Is there a cost for health insurance advice?

Usually, no. The insurer pays an advice fee when a policy is placed, but because our team does not earn commission, the recommendation reflects your needs, not a fee structure. Our advisers are salaried employees of Become Wealth.

Why Become Wealth?

We're trusted to advise New Zealanders on investments totalling over $1 billion. You can trust us, too.

We look at insurance through a wealth lens. Your cover is assessed alongside your investments, lending, and goals, not in isolation.

Become Wealth is one of only 48 firms in New Zealand licensed to make investment decisions on behalf of clients (a Discretionary Investment Management Service). This requires us to meet a higher standard of regulatory oversight than most advisory firms. We are also a licensed Financial Advice Provider. FSP249805.