Institute of Financial Advisers - John Hyde - Member No. 562

Cost Comparisons - Life Insurance - June 2008

The cost of monthly premiums for Life Insurance of $200,000 from a variety of sources is:

Male	Non smoker	Non smoker	Non smoker
Insurer	Age 25	Age 35	Age 45
Our NZLife. Price	17.04	14.40	27.16
AA Life	24.24	26.07	45.41
KiwiLife and StateLife	20.69	18.03	31.16
AiA	20.30	18.38	34.48
AMP	27.37	27.55	41.23
Asteron	20.30	18.38	33.25
AXA	18.65	19.63	29.47
Fidelity Life	20.83	17.50	31.79
ING Life	21.38	26.80	54.98
Sovereign Totalcare	20.69	18.03	31.16
Tower	24.67	21.67	34.83

Female	Non smoker	Non smoker	Non smoker
Insurer	Age 25	Age 35	Age 45
Our NZLife. Price	10.83	11.67	22.93
AA Life	17.24	18.74	30.91
KiwiLife and StateLife	14.09	14.91	26.19
AiA	13.13	14.53	27.83
AMP	24.04	25.97	35.27
Asteron	14.00	14.70	27.13
AXA	12.95	14.37	23.16
Fidelity Life	12.62	14.25	24.93
ING Life	15.52	21.95	46.80
Sovereign Totalcare	9.06	9.88	26.27
Tower	17.83	18.50	29.83

See Notes below.

Cost Comparisons - Critical Illness Insurance - June 2008

The cost of monthly premiums for Critical Illness Insurance accelerated of $200,000 from a variety of sources is:

Male	Non smoker	Non smoker	Non smoker
Insurer	Age 25	Age 35	Age 45
Our NZLife. Price	9.94	17.19	50.62
AiA	18.71	29.14	84.67
AMP	25.14	32.00	75.20
Asteron	20.48	26.26	82.97
Fidelity Life	11.13	17.87	60.05
ING Life	24.61	50.02	138.83
Sovereign Totalcare	21.82	25.85	71.22
Tower	17.63	24.94	73.88

Female	Non smoker	Non smoker	Non smoker
Insurer	Age 25	Age 35	Age 45
Our NZLife. Price	9.00	17.55	44.78
AiA	14.96	28.95	69.70
AMP	20.81	31.00	58.03
Asteron	20.65	29.23	70.02
Fidelity Life	11.42	23.14	58.59
ING Life	24.21	48.47	108.17
Sovereign Totalcare	20.60	26.50	59.85
Tower	14.63	25.88	59.82

See Notes below.

Cost of TPD Insurance - June 2008

The cost of monthly premiums for TPD Insurance accelerated any occupation of $200,000 from a variety of sources is:

Male	Non smoker	Non smoker	Non smoker
Insurer	Age 25	Age 35	Age 45
Our NZLife. Price	4.70	4.18	11.34
AiA	5.92	5.52	15.75
Fidelity Life	3.81	4.69	13.77
ING Life	5.25	9.43	35.77
Sovereign Totalcare	8.32	7.39	20.64
Tower	8.63	10.50	21.00

Female	Non smoker	Non smoker	Non smoker
Insurer	Age 25	Age 35	Age 45
Our NZLife. Price	4.86	5.63	17.71
AiA	5.92	5.52	15.75
Fidelity Life	2.93	5.27	17.58
ING Life	6.60	10.80	40.14
Sovereign Totalcare	7.66	9.19	30.64
Tower	8.81	10.13	23.43

See Notes below.

Cost of Income Protection Insurance - June 2008

The cost of monthly premiums for Income Protection Insurance for agreed value for a general clerical occupation for $2,000/mth with a 4 week wait and 2 year claim period from a variety of sources is: (includes waiver of premium whilst on claim.)

Why pay more!

Male	Non smoker	Non smoker	Non smoker
Insurer	Age 25	Age 35	Age 45
Our NZLife. Price	14.37	13.12	18.89
AiA	15.64	19.92	34.86
AMP	20.64	30.00	31.58
Asteron	25.54	25.53	39.79
Fidelity Life	15.64	19.67	33.99
ING Life	29.06 *	40.82 *	78.62 *
Sovereign Totalcare	19.72	18.09	27.15
Tower	28.34	23.80	38.74

Female	Non smoker	Non smoker	Non smoker
Insurer	Age 25	Age 35	Age 45
Our NZLife. Price	16.13	19.06	28.24
AiA	27.23	37.61	67.04
AMP	36.60	46.00	46.19
Asteron	36.25	38.81	62.89
Fidelity Life	23.44	30.26	51.82
ING Life	40.61 *	62.06 *	112.93 *
Sovereign Totalcare	23.57	28.20	44.07
Tower	28.05	32.14	61.73

* = 5 year claim period

As at 17 June 2008.

Notes:

Monthly premiums include policy fees and waiver of premium where applicable.
The conditions covered and definitions may vary with insurers.
The minimum premium for NZLife policies is $15.mth. Other suppliers have minimums ranging from $12.50 to $20.00. We suggest you increase or add other benefits to get best value.
Smokers rates are approximately double the above costs. Check on the calculator.
The rates quoted are for the first years premiums based on a standard life risk. Actual rates may vary depending on the assessed risk, and increase in future years, depending on the type of policy purchased, (rate for age or level term - see notes below) and the supplier.
Other sites may offer what may appear to be major discounts, but they are still more expensive than NZLife! If you find a lower price please tell us.

For May 2007 comparisons - click here.
For September 2006 comparisons - click here.
For March 2006 comparisons - click here.