Quote Calculators

Needs Calculators

Life and/or Accident
Critical Illness
Permanent Disablement
Income Protection

Accelerated or Standalone?

Accelerated: links the product with Life Insurance, to achieve a lower premium. Insured sum can not exceed Life Cover. On claim, the Life Insurance component is reduced by sum paid.
Standalone: is not linked to any other product. Any sum can be covered up to policy maximums.

Occupational Classes

Some jobs involve more physical and other risks than others. Occupations have therefore been graded into classes for Permanent Disablement and Income Protection premium purposes. They are:

Professional
General clerical
Tradepersons
Labourer
Not employed

Income Protection Options

Start Up Income Protection: designed for self employed in the first 18 months of starting a business.
Essential Disability: designed to cover major illnesses and complements ACC which covers accidents.
Comprehensive: a comprehensive income protection plan.

Agreed or Indemnity Value?

Agreed Value provides cover at a guaranteed level, less any income or benefits you are still receiving or are entitled to receive. The agreed value sum insured is based on evidence of income at the time of application. It is up to 55% of your gross income paid monthly, and is a tax paid benefit. Indemnity payments are based on up to 75% of your average monthly income prior to disability, and may be taxable. Evidence of income is only required on claim.

Wait Period

Your income protection insurance payments won't start until after your chosen "Wait period".

Waiver of premium

All Income Protection policies include a waiver so that you won’t have to pay premiums while on a claim

The Quote Calculators below enable you to work out the cost of your chosen sum to be insured for each product, and the total.

	Life 1	Life 2
Name:
Sex
Age
Smoked in last 12 mths?
Calculate your Life Insurance Cost
Enter Sum to be Insured	$	$
Cost	$	$
Calculate your Critical Illness Insurance Cost
Enter Sum to be Insured	$	$
Policy option
Policy type
Cost	$	$
Note: Sum to be Insured can not exceed Life Cover if Accelerated policy is selected.
Calculate your Accident Insurance Cost
Enter Sum to be Insured	$	$
Cost	$	$
Note: Sum to be Insured can not exceed Life Cover if Accelerated policy is selected.
Calculate your Total Permanent Disablement Insurance Cost
Enter Sum to be Insured	$	$
Occupational class
Occupation cover
Policy type
Cost	$	$
Note: Sum to be Insured can not exceed Life Cover if Accelerated policy is selected.
Calculate your Income Protection Insurance Cost
Your gross annual income	$	$
If self-employed, how many years?
Policy Type
Income Protection required	$ $ per month	$ $ per month
Occupational class
Wait period:
Payment period
Cost	$	$
Premium waiver cost	$	$
Total	$	$

Plus Policy Fee:	$5.46

Total Sum	per month per year per fortnight **

** Note: Fortnightly payment frequency is for Direct Debit payments only.
The minimum total premium is $15 per month. (NZLife. recommends you consider increasing cover to optimise your premium cost).

The illustrated premiums for all Life benefits are valid for 30 days. However, the illustrations for all other benefits are valid for 30 days or until 30 September 2010 (whichever is earlier). For policies issued on or after 1 October 2010, GST will increase from 12.5% to 15% and the premiums for all non-life benefits will increase in line with GST.

Quote Calculators

Life 1

Life 2