Whole Life Insurance NZ

Whole life insurance is a life insurance policy that covers you for life, without any time period limits. If you feel that a term-based policy is not sufficient to cover for your needs, you may want to consider whole life insurance. Cash value can accumulate over time with this policy, as it features a savings component in addition to its standard coverage. It’s also possible for the policyholder to withdraw or borrow the cash while they are still alive.

Whole life insurance helps beneficiaries cope by issuing payment in the event of the policyholder’s death (as long as they were able to make regular premium payments). Death benefits are based on a set amount at the time of the contract, however the policyholder can have their dividends purchase additional benefits, increasing the total amount paid out.

Life Insurance Calculator

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If you’re interested in having cover for life, you should opt for a whole life insurance policy. To help you decide on the right provider, glimp has compiled multiple deals for you to choose from in your own time. You can compare offers quickly and easily, without needing to alternate between multiple websites.

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Having a difficult time honing in on a life insurance policy that works for you? You’re not alone! With so many great companies out there offering competitive deals, many Kiwis find it hard to choose and often end up spending several minutes poring through all the details.

Fortunately, glimp has already done the hard work and research, in order to narrow down the possibilities and leave you with just the relevant options. Best of all, it’s free to compare!

Simply provide us with a few details about what you need, and our tool will bring up a list of all the providers that match your specifications. Save yourself a significant amount of research time and find all sorts of policies when you compare whole life insurance with glimp.

Why compare whole life insurance rates with glimp?

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Easily compare life insurance policies and find the best whole life insurance and cash value savings in just a matter of minutes.

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Thousands of Kiwis have already made the switch and used our services for their insurance needs. We’ll help you find the best whole life insurance in NZ too!

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Whole life insurance FAQ

What are the benefits of whole life insurance?

Whole life insurance provides cover for the duration of the policyholder’s life, unlike a term policy, which only provides coverage for a set period. Additionally, it allows the policyholder to have a cash value that does grow over time, albeit at a low set rate. Once accumulated though, it can add up over time to a significant amount, so it’s is recommended to take advantage of this benefit.

When is the best time to take out a policy?

As with term life insurance, it’s recommended to take a policy out early, while you don’t have any significant health issues. This important for whole life insurance as well, thanks to the cash value component. Additionally, you may also want to consider taking a policy out after a significant life event such as leaving your job, marriage, or moving to a new place.

What should I keep in mind when taking out a whole life insurance policy?

As with any purchase or investment, there are certain considerations you need to think about prior to taking out a policy. For instance, the cash value benefit may seem appealing, but you shouldn’t make the mistake of relying on it for your retirement savings. It’s recommended to keep these separate, so you don’t end up running the insurance savings too thin and decreasing the payout.

Additionally, you should not forget to name a beneficiary, in order to ensure that your policy remains non-taxable. You should also update your beneficiaries after significant life events (e.g. death or divorce), or else you may run into complications.

Another factor to consider is that you may not need that much coverage for a long time, especially as you grow older and start clearing your debts. Accurately estimate your needs and consult with an insurance expert in order to arrive at a reasonable figure and purchase a policy that works best for you. Look for a company with a trusted credit rating. Take advantage of whole life insurance calculators provided by different insurers. To help you on your search, we have already vetted these providers out for you. Compare whole life insurance providers today using our free and easy to use comparison tool!

Selena Hoani , 2024-10-16

Filomena had amazing customer service! She was very polite and respectful. She also was great at listening to my needs and offering solutions with options that had great savings. I would give her 10 stars if that was an option. If I decide to go ahead I would choose to go have her help me again. I have not had the best experience in the past with customer service reps so I would like to thank her for making this experience a good one. Kind Regards, Selena

Charlotte Britton , 2024-07-24

Very clear and concise information. Great price comparison for saving money on our monthly bills! Thanks Issac and Glimp! I can't wait to pass these savings on to my hard working family Adding onto my review as I think this is totally unacceptable to have people call you about switching companies and you agree to change and go through the process with Glimp and then get phone calls from supposed companies BEFORE you even get the email offer from supposed companies.

KMN Sharma , 2024-09-06

The customer service was very good. Very pleasant and friendly approach. Thanks again for your help. Saving of 280$ for the same quality and performance. Will use this agency to get another deal after 12 months.

Sandra Aikin , 2024-11-26

My discussion with Tyron Kumar went very well. He was very patient and polite with my lack of knowledge of GBs etc. On the basis of our conversation I felt confident enough to change to 2 degrees immediately. I didn't give five stars because the sound was poor. It seemed as if there was a constant noise in the background and Tyron's voice had a slight echo as well.