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

Cost Comparisons - Life Insurance - December 2011

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	18.67	16.43	27.48
AiA	22.75	20.65	36.58
AMP	33.34	32.46	42.11
Asteron	20.78	18.79	33.92
AXA	22.88	19.52	31.93
OnePath	22.02	22.10	36.61
Partners Life	23.08	20.95	33.95
Tower	27.17	23.83	38.50
Fidelity Life	27.59	18.30	30.60

Female	Non smoker	Non smoker	Non smoker
Insurer	Age 25	Age 35	Age 45
Our NZLife. Price	13.18	13.86	23.36
AiA	14.70	16.28	29.40
AMP	28.07	29.03	36.84
Asteron	14.13	14.96	27.76
AXA	15.06	15.06	27.25
OnePath	14.99	18.80	31.13
Partners Life	16.84	18.35	30.17
Tower	15.09	20.50	33.00
Fidelity Life	14.04	15.35	26.51

See Notes below.

Cost Comparisons - Critical Illness Insurance - December 2011

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	20.61	24.41	67.26
AiA	18.31	29.18	84.32
AMP	19.97	28.25	83.53
Asteron	27.93	34.91	106.73
AXA	22.97	29.33	78.62
OnePath	20.75	33.73	79.38
Partners Life	19.50	27.69	76.83
Tower	18.02	27.74	76.44
Fidelity Life	18.39	32.41	91.62

Female	Non smoker	Non smoker	Non smoker
Insurer	Age 25	Age 35	Age 45
Our NZLife. Price	19.46	25.03	56.53
AiA	15.09	28.58	68.22
AMP	16.54	29.26	68.40
Asteron	25.94	39.24	89.94
AXA	19.96	30.56	69.08
OnePath	19.69	32.91	68.61
Partners Life	17.23	27.63	65.98
Tower	14.95	26.45	61.14
Fidelity Life	13.71	33.66	80.71

See Notes below.

Cost of TPD Insurance - December 2011

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	5.60	4.98	13.89
AiA	3.62	3.42	9.66
AMP	4.64	6.05	17.15
Asteron	5.69	5.99	15.46
AXA	9.89	10.51	23.81
OnePath	6.63	5.69	17.64
Partners Life	4.97	4.88	13.65
Tower	4.38	3.80	8.74
Fidelity Life	6.26	7.22	23.11

Female	Non smoker	Non smoker	Non smoker
Insurer	Age 25	Age 35	Age 45
Our NZLife. Price	5.15	6.19	20.63
AiA	3.62	3.42	9.66
AMP	4.64	6.05	17.96
Asteron	5.32	6.48	18.29
AXA	9.89	10.51	23.81
OnePath	7.61	6.88	22.52
Partners Life	4.97	5.85	18.33
Tower	3.34	3.91	9.43
Fidelity Life	3.85	8.66	29.36

See Notes below.

Cost of Income Protection Insurance - December 2011

The cost of monthly premiums for Income Protection Insurance for indemnity value for a general clerical occupation for $2,000/mth with an 8 week wait and 5 year claim period including waiver of premium whilst on claim from a variety of sources is:

Male	Non smoker	Non smoker	Non smoker
Insurer	Age 25	Age 35	Age 45
Our NZLife Price	16.10	17.32	28.33
AiA	17.71	22.04	37.73
AMP	25.76	29.09	51.20
Asteron	23.31	26.14	47.03
AXA	20.59	22.44	46.38
OnePath	16.99	22.72	44.79
Partners Life	15.59	20.84	40.31
Tower	20.26	28.07	38.24
Fidelity Life	15.29	20.31	41.56

Female	Non smoker	Non smoker	Non smoker
Insurer	Age 25	Age 35	Age 45
Our NZLife Price	21.47	29.00	47.90
AiA	24.81	33.64	56.07
AMP	32.71	39.57	70.87
Asteron	32.87	40.05	72.86
AXA	31.43	33.67	69.57
OnePath	24.18	36.93	70.91
Partners Life	21.00	33.85	70.52
Tower	24.93	28.16	58.81
Fidelity Life	22.70	31.06	61.91

* = 5 year claim period

As at December 2011.

Notes:

Monthly premiums include policy fees in Life cover only and waiver of premium with income protection 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 March 2010 comparisons - click here.
For December 2009 comparisons - click here.
For June 2008 comparisons - click here.
For May 2007 comparisons - click here.
For September 2006 comparisons - click here.
For March 2006 comparisons - click here.