As insurance advisors ourselves we are the first to admit that the options are almost endless when it comes to choosing your life insurance. There are many insurers and also many banks who offer cover.
To complicate it the premiums for life insurance across the different insurers are not hugely different as say when you compare car insurance premiums. The reason for this is that life insurance quotes are largely based on the average life expectancy of people in NZ which is easily available information and all insurers have access to the same information.
In saying that life insurance NZ premiums do vary to some extent. For example some insurers see themselves as a premium brand for product and service so they will always be more expensive than an insurer who has more emphasis on straightforward cover without the bells and whistles and maybe with more emphasis on such things as online applications.
Before you buy life insurance you can do yourself a big favour by comparing at least 3 different insurers. Do not limit yourself to one bank or insurer or just the same company you insure your house or car with. Shop around for sure. When we provide quotes for our customers we always make a point of providing at least 6-7 insurers to compare. At least that way you know you are going to be pretty comfortable in making an informed decision.
Paul Woollams, Insurance Helpline