INSURANCE

Life insurance

Life insurance in New Zealand pays a tax-free lump sum to the people you choose if you die or are diagnosed with a terminal illness. It ensures the financial commitments you carry do not become burdens for the people you leave behind.

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.

‍What Life Insurance Actually Pays

A tax-free lump sum. You decide who receives the payout and can change your beneficiary at any time. If no beneficiary is named, the proceeds are distributed according to your will.

Terminal illness benefit. Most policies pay the full benefit if you are diagnosed with an illness expected to be terminal within 12 or 24 months, giving you access to funds while you are alive to direct how they are used.

Funeral advance. Nearly all policies include an advance payment released quickly so your family is not managing immediate costs while waiting for the full claim.

Life insurance pays a one-time lump sum, not an ongoing income. If your household needs regular income replacement through an extended illness, income protection is the policy designed for this. Many people hold both.

The Wealth Preservation Case for Life Cover

Debt clearance. The lump sum can clear your mortgage in full. Your family keeps the home without needing to service a loan on a reduced income.

Income replacement. The payout can be invested to generate an income stream for your surviving partner, covering living expenses and school fees.

Business continuity. If you are a business owner, life cover can fund a buy-sell agreement, repay business debt, or provide working capital during transition. See our business insurance page for broader commercial cover.

Estate planning. Life insurance can create an inheritance, fund a donation, or equalise distributions when the estate includes illiquid assets such as property.

Years of careful saving and investing can be undone by a single uninsured event. Life cover protects your family’s financial position.

How Much Cover Do You Need?

Outstanding debt. Mortgage, personal loans, and any business borrowings you personally guarantee.

Dependants’ living costs. Annual household costs multiplied by the years your dependants need support.

Existing assets. Subtract savings, existing insurance, and accessible assets. The gap is what your cover needs to fill.

Future commitments. Education costs, retirement savings shortfalls, and planned purchases your family is counting on.

Our advisers use a structured needs analysis based on your actual numbers, not a rule of thumb.

Would your family need to sell the house?

A complimentary review confirms whether your cover matches your commitments.

Review my cover

‍Why an Adviser Makes a Difference

Life insurance is relatively straightforward to arrange, but policies differ in premium escalation rates, exclusion clauses, terminal illness definitions, and claims processes. Any inaccuracy in your application, particularly around medical history, can give an insurer grounds to decline a claim when your family needs it most.

An adviser compares across the full market, ensures your application is complete, and handles claims advocacy if the worst happens. Your family should not be navigating paperwork while grieving.

How a Become Wealth Adviser Helps

Our advisers are salaried and compare policies across the New Zealand market. Benefits, exclusions, premium sustainability, and claims track records all factor into the recommendation. Where you already hold cover, we review it first. If it is doing the job, we say so.

Because Become Wealth is not owned by a bank or product provider, our assessment of your life cover sits within your broader financial plans. We look at everything through a wealth lens, ensuring your insurance, investments, and lending work together. This is the advantage of working with a firm regulated by the Financial Markets Authority, managing over $1 billion in client funds, and holding one of only 48 DIMS licences in New Zealand.

Already Have Cover? Review It

A policy established years ago may no longer reflect your mortgage balance, income, or family size. Common issues include cover amounts set too low, premium escalation faster than expected, and missing terminal illness benefits available on newer products.

If you are considering cancelling any policy, proceed with caution. Cancellation is usually permanent. See our guide on whether to cancel insurance to save.

‍

Is your life cover still the right amount?

Circumstances change. A quick review confirms whether your policy has kept pace.

Book a review

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: Life Insurance in NZ

How much life insurance do I need?

It depends on your mortgage, dependants, living costs, and existing assets. Our advisers calculate the cover amount based on your actual financial position.

Is life insurance tax-free in New Zealand?

Yes. Benefits are paid as a tax-free lump sum, whether triggered by death or terminal illness diagnosis.

What is the difference between life insurance and income protection?

Life insurance pays a one-time lump sum if you die. Income protection pays a monthly benefit if you cannot work. Life cover protects dependants if you die. Income protection protects your household while you recover.

Do I need life insurance if I have no dependants?

If you have a mortgage, business debts, or a co-borrower who would inherit the liability, life cover prevents the debt falling to someone else. If none of these apply, the need is lower.

What happens when my family needs to claim?

Your adviser handles the paperwork, follows up with the insurer, and ensures entitlements are met.

Is there a cost for advice from Become Wealth?

In most cases, no. The insurer pays an advice fee. Our advisers are salaried. We confirm this in writing.

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.