According to the Financial Services Council’s latest Life Insurance Industry Spotlight, more New Zealanders are holding life insurance than at any point in the past five years.
As of the March 2025 quarter, there were 4.26 million life insurance covers in force across the country which is an increase of 1.8% compared to the same time last year. At the same time, total claims paid across most policy types fell to their lowest level since March 2023, with the exception of Guaranteed Acceptance policies.
What the latest data shows
The report also found that almost half of all premiums are paid by people aged 46 to 65, reflecting a continued trend of midlife New Zealanders taking steps to protect their families and financial responsibilities. The gender breakdown remained consistent with previous quarters, with around 60% of policyholders identifying as male, 30% as female, and 10% unspecified.
Why it could be a good time to review
So what does all this mean for you? In short, it’s a timely reminder to check in on your own life insurance.
As life changes—whether it’s income, debt levels, or family circumstances—your insurance needs may shift too. And with more people taking out cover and insurers reporting lower claim volumes, this may also be a good time to explore whether there are better-value options available for you on the market.
A quick review doesn’t have to mean making changes. Sometimes it’s just about staying informed. Knowing the details of your current cover, how it works, and what it’s designed to protect can help you feel more confident about the future.
Whether your circumstances have changed or you simply haven’t looked at your policy in a while, we’re here if you’d like to talk it through.
Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.