Let’s talk about Life & Living insurance.

To apply for nib Life insurance & Living insurance online or through 0800 555 642, you'll need to complete an application form and be:

• Living in New Zealand and have one of the following:

  • New Zealand or Australian passport/citizenship

  • New Zealand or Australian Permanent Resident Visa (with no travel conditions on your visa)

  • New Zealand Resident Visa (for Life cover and/or Serious Illness Trauma cover only)

• 18 - 70 years old to apply for Life Insurance (Life cover)

• 18-60 years old to apply for Living Insurance (Serious Illness Trauma cover or Income Protection Illness cover)

• Employed for at least 25 hours per week for a single employer to apply for Living Insurance (Income Protection Illness cover)

While your application is being reviewed, we may request additional information, such as medical records or further details about your health. During this time, you will also receive Temporary Accidental Death Cover as soon as you submit your application.

Temporary Accidental Death Cover is complimentary and provided for a limited time while your Life & Living Insurance application is being assessed. This cover protects you if you pass away due to a non-medical, unexpected accidental injury. In this case, your proposed beneficiary (or your estate if no beneficiary is named) will receive the amount of Life Cover you applied for, along with $15,000 Funeral Cover, up to a maximum of $500,000.

Underwriting is the process we use to assess your application. This includes reviewing your health, lifestyle, and other factors to determine the cover and terms we can provide.

No, you’re not locked in. You can cancel your policy at any time. If you cancel within the 30-day free-look period, any premiums paid will be refunded.

Your first premium is due once your policy is activated. You’ll receive a confirmation with all payment details, including the date and amount, so you know exactly what to expect.

Your premium will usually increase each year

Your premium is not fixed. Even if you maintain the same level of cover, your premium will typically increase as the insured person gets older. If you'd like an estimate of how your premiums may change over time, you can ask us for an indication. We may also adjust premiums as outlined in the section ‘Making changes to the insurance agreement’.

Your cover will generally increase each year

To help maintain the value of your insurance, we automatically increase your cover amount each year on the anniversary of your Life & Living Insurance start date, while you’re eligible for this indexation. This increase is based on the Consumer Price Index (CPI), with a minimum of 1% and a maximum of 7%.

Please note that complimentary Funeral Expenses cover does not increase and remains a fixed payment of $15,000.

You can reduce your cover at any time or apply to increase your cover or add new benefits, subject to underwriting. Simply contact us, and we’ll help to adjust your policy.

If you need to make a claim, simply contact our claims team, and they’ll guide you through the process. You’ll need to provide relevant documents, such as medical reports, proof of income, or evidence of the event you’re claiming for.

If your application is approved and your policy is active, you can make a claim immediately, provided the event you're claiming for meets the terms and conditions of your policy. Some cover types may have a stand down period before certain benefits can be claimed.

For Life Cover, the claim payment goes to your nominated beneficiary, if you have nominated one, or to your estate. For Serious Illness Trauma Cover or Income Protection Cover, the payment is made directly to you, the policyowner, so you can use it as needed.

You can learn more about Life & Living Insurance by visiting our website, speaking with our team, or checking out our policy document and fact sheet. We’re here to help answer any questions you may have.