Why life insurance matters at any stage or age in life.

At Properli, we often hear people say “Life insurance is too expensive” or “I don’t need it yet”. But recent stats show a different story. Life insurance is relevant, whatever age or stage in life you are at. Many young Kiwis claim life or trauma cover too, especially those with mortgages, young families, or income protection needs.

In fact, a July 2025 Financial Services Council report confirms that personal life and health coverage significantly lags behind other forms of insurance in New Zealand, even though life-changing events can strike at any age. This underinsurance is particularly risky for younger people, who often have financial dependents and large debts.

Despite rising costs of living and increasing health pressures, only 39% of New Zealanders report having any form of life insurance, and many of them are underinsured, meaning their cover wouldn’t actually meet their family’s financial needs in the event of a death (Source: covernote.co.nz). In addition;

• Health Insurance is held by just 32% of Kiwis
• Income protection cover is even rarer, only 11% have it, despite it being one of the most powerful financial safety nets available (Source: ams.co.nz, insurancebusinessmag.com).

A representative from the Financial Services Council estimated that insurance premiums account for around 14% of household income, with life insurance alone taking up 4% (Source: riskinfonz.co.nz) but only 29% of NZ households even have life insurance at all.

So while Kiwis instinctively insure their homes and vehicles, they’re not protecting themselves or their families to the same degree.

“Life Insurance is too expensive” we hear. Let’s break that down. Cost is the most commonly cited reason Kiwis go without life cover. But here's the truth, the cost of not being covered can be far greater. The cost is not that big – it’s small in comparison to the solution your insurance provides at a time when you need it most.

“New Zealanders instinctively protect their homes, cars, and possessions, but when it comes to insuring their most valuable asset “themselves” there’s a striking disconnect.” Insurance Business NZ, 2025, says Economist Shamubeel Eaqub

So, what does Life Insurance actually cover?

1. It provides your family with a lump sum payment if you pass away.
2. It provides you with a lump sum if you are diagnosed with a terminal illness and have less than 12 months to live.
3. It gives you peace of mind that your loved ones won’t be left with debt, stress, or financial uncertainty.

Every year, New Zealanders in their 30s, 40s, and even 20s access trauma or life-related payouts due to cancer, accidents, or major health events.

Let’s get you sorted! How working with a qualified Insurance Adviser at Properli can help:

• You will get tailored cover, not generic packages.
• Your premiums are based on your life stage, income, and risks.
• We can compare options across insurers to find better value.
• Your cover will be sufficient, not just symbolic.

We help our clients navigate the lengthy and often complex policy wordings within your insurance policies. Then we find ways to reduce premiums without compromising on meaningful protection.

We can help you understand what’s necessary, what’s nice-to-have, and how to balance cost with confidence.

That’s the Properli way.