Guaranteed Life Insurance - Frequently Asked Questions

What cover is provided and is there a ‘stand-down’ period?
What isn’t covered?
Am I eligible for Guaranteed Life Insurance?
Do I need a medical?
How soon will my insurance cover take effect?
What if I change my mind?
Can my level of cover ever be reduced or will my premiums ever increase?
How do I pay my premiums?
How is a claim made?


What cover is provided and is there a ‘stand-down’ period?
Guaranteed Life Insurance provides immediate accidental death cover from the day your fully completed acceptance form is received. If you die due to natural causes in the first two years, you won’t receive a claim payment, but all your premiums paid will be refunded. After two years, full cover is provided for accidental death and death of natural causes, along with a terminal illness benefit. If you are diagnosed as terminally ill and have less than 12 months to live, we will payout the full cover level early so that you can enjoy it in the time you have left.


What isn’t covered?
A claim will be refused if the person insured commits suicide within the first 13 months of the policy start date (or within 13 months of the restart date if the policy lapsed for some reason).


Am I eligible for Guaranteed Life Insurance?
If you are a New Zealand resident aged 50-79, you’re eligible.


Do I need a medical?
No, in fact we don’t even need you to answer any medical questions. Acceptance is guaranteed.


How soon will my insurance cover take effect?
You’re covered for accidental death from the day we receive your application. After two years, you’re fully covered for death due to natural causes, accidental death and terminal illness.


What if I change my mind?
That’s fine! Just contact us by phone, or return the policy within 30 days and get a full refund if you change your mind for any reason. You can cancel your policy any time after the first 30 days, but you won’t receive a refund of any premiums paid.


Can my level of cover ever be reduced or will my premiums ever increase?
Your cover level and premiums are fixed for life, regardless if your health deteriorates. They won’t be changed, unless you want them to be.


How do I pay my premiums?
Premiums can be paid monthly (direct debit and credit card only), quarterly, half-yearly or annually by direct debit, credit card or cheque.


How is a claim made?
You, or the person looking after your affairs will need to contact us on 0800 808 175, to inform us of your illness or your death, so that we can start the claim process.

For a claim on the terminal illness benefit, we’ll need your doctors contact details, so we can confirm your prognosis.

We will also need;
Proof of Age - Passport, Driver Licence or Birth Certificate
The Policy Document
The completed Claim Form


The following information will initially be required for a death claim;
Date of death
Cause of death
Contact details for the administrator of your estate, eg. Solicitor or family member

We will contact the administrator of the estate for any further information needed to process the claim, such as;
The completed Claim Form
The Death Certificate
Proof of Age - Passport, Drivers Licence or Birth Certificate
The Policy Document
Your will (if you have one) – this will not be required if you have elected a 2^nd Owner.

We may also require Probate or Letters of Administration (legal documents required if you have more than $11,000 worth of cover).

Once these documents are received and the claim is accepted, it will be settled immediately.

The payout will go to your estate or 2^nd Owner, the person you have chosen to receive the payment.