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Is Life Insurance worth it?

Jul 7, 2020, 13:50 PM by Jane Barron, Pinnacle Life
Is Life Insurance really worth it? The team at Pinnacle Life put together some handy things to consider when deciding whether you should purchase Life Insurance.

Boost life and mortgage Insurance Supplier Pinnacle Life have put together reasons why they believe Life Insurance is worth it: 

Having life insurance is a good idea if you have financial responsibilities that mean your loved ones would struggle if you weren’t around to pay for things like the rent or mortgage, the groceries, or your kids’ education and you don’t want them to rely on friends, family or givealittle. But having life cover means paying for something that you may never need. 

Obviously, our opinion is biased, but we think having Pinnacle Life Insurance is well worth it. Here’s why:

1. We offer good value. We regularly compare our prices and benefits to other providers, so we know that we offer some of the best value life insurance in NZ. Our research shows that our premiums are generally cheaper than car insurance.

2. You can change your cover as your needs change so you’re not locked into what you started with. If you get married or divorced, became a parent, or take out a mortgage, you might be eligible for our special events increase. That means you can increase your cover without providing updated health information. You can apply to increase your cover anytime right up until you turn 75 and it’s also easy to reduce your cover, just let us know.

3.  You can do it all online. From the comfort of your own home. It only takes around 10 minutes to get fully covered, and if you need a hand, we’re only a phone call, or a message away.

4.  Pinnacle Life insurance includes a Terminal Illness clause. If you’re diagnosed with a terminal illness and expect to live less than 6 -12 months (depending on your policy) you can claim on your policy early.  You can also add Critical illness cover to your policy which will pay a lump sum if you suffer from one of the conditions specified in your policy. 

The chances of getting sick are higher than we like to think, in NZ
- 63 people are told ‘you have cancer’ every day. 
- Strokes affect around 9,000 people every year, and it’s the major cause of serious adult disability. 
- 1 in 21 adults are living with heart disease. Cardiovascular disease (which includes heart, stroke and blood vessel disease) causes 33% of all deaths; it’s New Zealand’s biggest killer. 

5. You get peace of mind. This is perhaps the biggest reason to have life insurance! Often we take out life cover when someone we know has been diagnosed with a serious illness or died unexpectedly. The reality families find themselves in in these sad situations can be extremely upsetting, and worrying if you have dependents. 

Paying for life cover means there’s less money to spend now. We get that. Only you can make the choice for you and your family about your financial situation. But the benefits of having life cover are high. Get started by getting a quote; it takes less than 30 seconds with Pinnacle Life.

Login to Boost to check out the Pinnacle Life offer here.

(Article written and provided by Pinnacle Life)

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