How Life Cover and Cover for Life can work together
Emma, 40, is a parent with a $400,000 mortgage and young children. She chooses: $500,000 Life Cover, to give her family strong financial protection during the years they rely on her income the most. This type of cover is designed to help her family cover big expenses, like paying off the mortgage, school fees and everyday living, if she were to pass away while still paying for these. She will pay premiums for the life of the policy, which commonly increase over time as she ages and her financial debt decreases. After speaking to her insurance adviser, Emma also takes out a smaller $100,000 Cover for Life policy. She chooses a premium payment term to age 65. This means her premiums will remain the same from age 40 to age 65, after which she will stop paying Cover for Life premiums entirely. The cover itself will remain in force for the rest of her life and will payout $100,000 when she dies. The money may be used to help with her funeral costs or leaving a financial legacy behind for her family. Together, these two types of cover give Emma different protection: Life Cover gives a more affordable option now whilst she has big expenses to cover, and with Cover for Life – a guaranteed lump sum support for her family in the future.
Examples of how Cover for Life can help customers
When Xiam and Wei (55) moved to New Zealand from China, their priority was building long‑term security for their children. They viewed insurance not as an investment but as a moral responsibility to ensure their family would receive an inheritance when they pass away. By choosing Cover for Life, they gained confidence that their family will receive a legacy for the future. After their children moved out and they began approaching retirement, Mark and Helen (60) started thinking more seriously about how to manage their end‑of‑life plans. Living on a fixed income, they wanted to make sure when they passed away their family wouldn’t face unexpected costs or financial stress, during an already difficult time. Certainty and stability were their top priorities. With Cover for Life, they found a solution that matched their needs: cover that will continue until they pass away, predictable premiums, and assurance that their final expenses wouldn’t fall on their loved ones. As their family grew, Sarah and James (37) wanted reassurance that their children would be protected no matter what the future held. They valued the certainty of fixed premiums and knowing their cover would stay in place for life, as well as the comfort of having a clear end point to paying premiums. This sense of long‑term stability was especially important to them as a rural family focused on protecting the assets they hope to pass on to the next generation. Choosing Cover for Life gave them a simple, dependable way to safeguard their family’s future. With stable costs and cover that continues even after premiums stop, they feel confident that their children and the legacy they’re building will always be supported.
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