Life Insurance

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Frequently Asked Questions

Find answers to common personal insurance questions below. If you can’t find an answer

to your questions, please Contact Us and a friendly adviser will reach out.

We charge no fees to you for our service. We receive our compensation from the insurance provider only after we have successfully helped you secure cover that meets your insurance goals.

Enva Financial Group Limited (FSP673551, trading as Enva Financial) operates this website and is the financial advice provider that engages the financial advisers who will contact you about your personal insurance needs. Enva Financial holds a financial advice provider licence issued by the Financial Markets Authority.

Have you ever thought about what would happen to your loved ones if you passed away? Or what you would do if you lost your partner? Life insurance gives you peace of mind while you’re alive, and financial support for your loved ones when you’re gone. It can be used for anything, but often it is to reduce or pay off debt (including a mortgage), provide for children and their education, protect your partner’s retirement, replace some of your lost future income, and pay for funeral costs.

Life insurance premiums vary from company to company and are influenced by a variety of factors, such as smoking status, age, and health. As an example, $500K of life cover for a 40 year old non-smoker can cost less than $30/month.

Yes, insurers charge different rates for smokers (including vaping) and non-smokers, based on the increased risk of having a claim.

It’s easy to get life insurance, but there are a lot of options, and it’s not easy to understand which is right for you. You can either take it out directly with an insurance company or go through an adviser.

Using an adviser like one of Enva Financial’s may cost you nothing, and the products available are often far more comprehensive. Their job is to work for you, to recommend the policy most suitable, as well as make it easy to understand your options and what products are a good fit. If you have any existing cover, they can provide advice around its suitability, and any pros and cons of changing it. They also do most of the leg work to make it easy getting in place, and most importantly, are there to help you at claim time.

Yes, unless specifically excluded due to your personal situation, life insurance covers death due to both accidents and natural causes.

The companies that we work with all pay out a small portion immediately upon notifying them of the death (usually $15-25,000), to ensure you have funds available to cover the funeral.

The full sum will require medical evidence to ensure it is a valid claim, which would typically be processed within 48 hours of receiving the information, and payment received 2-5 business days following approval.

Most of the policies we work with also include additional payments for grief counseling and financial and legal advice.

It’s not just about what the cost is. Comparing policies requires a good understanding of the policy wordings, benefits, exclusions, and what this means for you to ensure the best outcome at claim time. This is the part that can be tricky and is why we recommend getting an expert financial adviser in to help you understand your options.

Most policies in New Zealand are now what we call term life policies. It is the simplest, and usually most fit for purpose type of life insurance. You pay your premium for as long as you need the cover, and if you pass away during this period, the Insurer pays you out a pre-agreed amount.

No, life insurance is not tax-deductible, and the payments to you are not taxed either.

Generally, it is one of the cheapest types of personal protection insurance. Although it does depend on your age, smoking status, and health history. For example, for a 40 year old, non-smoker, it can cost as little as $8/week.

While you don’t need to have it, it is strongly advised, particularly if you’ve taken out the mortgage with someone else, and you rely on each other to make the repayments. If your partner passed away, could you afford to pay the mortgage on your own, or would you be forced to sell? Life insurance gives you control in these situations, to ensure you get the outcome you want for your loved ones.

Claiming is quick and easy, most policies will advance you money for the funeral immediately, and the remainder once they have confirmed the claim. Your adviser will be able to help you with any claims.

Some policies expire at a certain age, so it’s good to be aware of this. The policies your adviser will recommend generally will have no expiry, so you can keep it for as long, or as little as you need it.

Life insurance is not for everyone! But if you have a mortgage or other debts, children, a partner, or anyone else financially relying on you, then you probably do need to get advice on your life insurance needs.

Factors can include your age, gender, smoking status, health history, and occupation. Your adviser is there to make this easy for you, and recommend the Insurance Provider that offers the best terms for you.

It’s not all about the cost! While this is a really important factor, there are also a lot of differences in the way policies work, what they cover and how they will pay out. Reading policy wordings to understand this can be pretty confusing – which is why we recommend talking to an experienced Adviser, to help you understand your options.

Term life covers you either for a set period of time, or, just for as long as you need the cover and keep paying for it. As the name suggests, whole of life cover covers you forever, but, the cost can be 15 times more for the same amount of cover, and for most people, they are better off with the far simpler, more affordable term life cover. Whole of life policies aren’t readily available in New Zealand anymore, as they were found to be poor value to the customer.

Yes, you can. This can be a good idea if you want your life cover to be paid to multiple people.

Life insurance is usually paid out in one lump sum, although some policies can also pay out monthly for a set number of years, designed to be income replacement.

Peace of mind that your loved ones are not burdened with paying any liabilities you have, your funeral costs, and that they continue to have the lifestyle you wanted for them.

Exclusions vary from provider to provider, but common ones most share include suicide within the first 13 months of taking out cover for the first time.

This all depends on your needs. A good place to start is looking at what debts/liabilities you have, how much a funeral would cost, and who you have around you that relies on your income, and how long they would continue to need this for if you were no longer here.

The best way is by changing your policy owner. This ensures money is paid to them as soon as possible, without the need to go through your estate.

As the name suggests, accidental death only covers death by accident, for example, a car crash.

Generally speaking, yes. Most policies will cover you worldwide, although there can be specific exclusions applied due to visa status, or if you intend to travel to high risk countries within 12 months of starting your policy.

In general, when you are young, your need for life cover is very low, until you start a family, or take on a mortgage. You then have your highest risk period while you raise your family, and pay down debt, with the aim eventually being that you no longer need any cover. However, some older individuals will still need cover if they still have debts, dependants, or want peace of mind their funeral is covered.

Age is one of the biggest factors affecting premiums. These are relatively low and don’t increase too significantly until your 40’s, then, in your 50’s and 60’s, then increase significantly each year as your risk goes up. The good news is that as you age, your need for cover is hopefully going down as well, so you can usually lower your cover to keep premiums in check. Alternatively, it may be beneficial to talk to an adviser about level premiums. These start out higher, but are locked in till an agreed age, and can save thousands of dollars in the long run.

When applying for life cover, you can choose to get non-underwritten cover. This means you disclose little to none about your health history, and are “covered” right away. Whilst it is quick and easy, the downside here is at claim time, they then go back and assess your health history to determine if you are covered or not, and this uncertainty can cause stress and unfavourable outcomes. Fully underwritten cover means you disclose your health history up front, and in some cases if they need further information, may be required to do a blood test or get notes from your Doctor. This can take a little more time, but having this done provides much greater certainty at claim time, and means you know where you stand upfront.

You can lodge this either directly with the Insurance Provider, or with your Adviser, who can do most of the heavy lifting for you.

Yes, most people are able to get health cover without the need for a medical exam, although it can sometimes be required due to your health history.

In most cases, you can claim straight away, although some policies will have stand downs for things such as suicide.

A premium is the amount you pay, for the agreed amount of cover. The premium is determined by a combination of your age, gender, health history, smoking status, and occupation. These are all based on data assessed by Actuaries.

Premiums do vary, based on statistical data. In general, life insurance premiums are slightly higher for males than females of the same age.

It’s not all about the cost! While this is a really important factor, there are also a lot of differences in the way policies work, what they cover and how they will pay out. Reading policy wordings to understand this can be pretty confusing – which is why we recommend talking to an experienced Adviser, to help you understand your options.

This can only happen if you cancelled your policy before you passed away. Ideally, you are working towards being in a position that you no longer need the cover, and can cancel it. But for the period of time you do need it, it provides peace of mind, and if you do pass away early, your family will be provided for.

The journey to find the right life insurance plan could be too complex to do on your own.

Follow a simple process, guided by our team of friendly insurance advisers,

and as a result, you’ll get the cover you need that fits your personal circumstances.

The best part? Our entire service comes at no cost to you

We receive our compensation from the insurance provider only after we have successfully helped you secure cover that meets your life insurance goals.

Furthermore, our commitment doesn’t end there. We continue to provide ongoing advice and support, assisting you with any claims to ensure you receive the benefits you deserve.

Choose the Right Life Cover in 3 Easy Steps:

Tell Us What You Need

Complete a brief form, specifying the personal insurance products you're looking for, your contact details, and the ideal time for us to get in touch.

Receive Quotes & Advice

A friendly adviser will call you to kickstart a simple and easy journey, and provide you with quotes and advice. Feel free to ask anything, anytime.

Make an Informed Decision​

Equipped with personalised advice and competitive quotes, you can confidently choose the right insurance plan from the right provider at the right price to match your situation and goals.

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Getting insured shouldn’t be so complex

Finding the right life insurance information to compare providers, understand their policies,
and receive personalised quotes should be a breeze and easy to grasp.

Tackling life insurance research by yourself can be overwhelming. Trying to choose the perfect package among countless providers can make your head spin.

Enva Financial has created to offer Kiwis an easy solution to connect with their friendly advisers – allowing you to get all the advice on life insurance and personalised quotes you need with no hidden costs and obligations.


Client Feedback

Welcome to powered by Enva Financial

Researching life insurance on your own could be a daunting task. Let’s make it simple and do it together. is created by Enva Financial, one of New Zealand’s leading financial advice providers, to help Kiwis easily access up-to-date life insurance advice and empower them to make informed decisions and get the cover they need to protect their assets, families and lifestyles.

At the start of the process, all our clients generally feel the same. They say that becoming informed on life insurance can be complex and time-consuming. They think that it’s difficult to get the cover they need to match their personal situation.

The good news is that it doesn’t have to be this way. Our team of 70+ friendly advisers offer clear guidance in plain language so you can confidently choose the life insurance plan and price that works for you.

Ask any question you want, at any time you want, and your adviser will explain all aspects of what you need to know so you can confidently make an informed insurance decision.

Who is Enva Financial?

One of New Zealand’s leading financial advice providers​

Client first culture

New Zealand Owned & Operated

In-depth knowledge of New Zealand’s leading insurance providers

Dedicated claim support team

Tailored insurance advice with transparent quotes & no hidden fees

10,000+ clients over the last 5 years

A team of 70+ friendly financial advisers from across the country

Stop Rolling the Dice on Your Life Insurance Cover

Don’t let the unexpected win. Make an informed decision.
Avoid insurance buyer’s remorse.