Tauranga Insurance Brokers

Why Bay of Plenty and Tauranga residents should work with a financial adviser from Policywise

While small in terms of land area, the Bay of Plenty is one of the fastest-growing regions in New Zealand. As of June 2025, 351,500 people, including 86,121 families, live there, with the majority located in the region’s urban centre, Tauranga.

Known as the Bay of Plenty’s boomtown, Tauranga is one of New Zealand’s most developed cities. It has a population of around 161,000 as of June 2025, up from 152,844 in 2023. Tauranga now represents about 3% of the country’s population and is home to over 40,569 families.

The city also has an older-than-average population, with 19.7% aged 65+, and a median age of 39.4 years. As residents continue to age, the likelihood of health-related issues increases, making financial protection more important over time.

Source: Stats NZ

Tauranga offers a great lifestyle and solid earning potential, with a median personal income of $42,100 for around 23% of professionals. This is higher than the Bay of Plenty’s $39,000 and slightly above the national average.

Source: Tauranga City Statistics

But with high living costs, including a median rent of $550/week (vs $460 regionally and $450 nationally) and 26% of all households paying between $500 and $599 on their weekly mortgages, many residents are managing tight budgets.

Source: Tauranga City Statistics

If your income suddenly stops due to illness or injury, the pressure to cover these expenses, plus daily living costs, increases dramatically.

A growing population with increasing financial risk

Given the positive developments in the area, Tauranga’s unemployment rate sits fairly low at only 2%. In fact, 50% of the population is employed full-time, including those in the labour force who are at risk of injury and who depend heavily on their ability to work.

Source: Tauranga City Statistics

With 69.4% of households owning their homes or holding them in a family trust, many Tauranga residents pay mortgages. Similar financial commitments apply to residents in the Bay of Plenty Region as a whole, where 69.7% of dwellings are owned.

Whether you’re …

• paying off a home
• supporting a family
• or planning for retirement

… your financial stability often depends on your ability to earn an income.

Income protection insurance and mortgage protection can relieve this pressure, replacing income and covering essential costs if you’re unable to work.

How income and mortgage protection insurance help

These insurance plans provide monthly payments if you’re unable to work due to illness or injury, helping you stay on top of your financial commitments when your income stops.

Income and mortgage protection plans can:

• Replace a portion of your income to cover everyday living costs
• Help you keep up with mortgage or rent payments during recovery
• Reduce financial stress so you can focus on getting better

→ Income and mortgage protection can be combined to maximise your overall cover and flexibility

→ Policywise can advise you on plans that include redundancy cover for added protection.

If you’re unsure how much cover you need, we can compare options across insurers and recommend the right policy for your situation. All at no cost to you.

Healthcare pressures in the Bay of Plenty

Like many regions in New Zealand, the Bay of Plenty, including Tauranga, faces ongoing pressure on its public health system.

Alongside the growing and older-than-average population, there’s an increasing number of residents suffering from chronic illnesses, such as cancer.

Health New Zealand (2023) reports a high number of new cancer cases among male residents for prostate (309), skin (142), and colorectal cancer (138).

Source: Figure NZ

Wait times in New Zealand

As of April 2025:

• 6,329 patients were waiting longer than the recommended timeframe for a first specialist assessment
• 1,174 patients had been approved for treatment but were not treated within the required timeframe.

Delays like these significantly impact access to timely diagnosis and treatment - especially worrying for serious conditions where early intervention matters.

If you choose to fund your healthcare privately to avoid delays, costs escalate quickly:

• Surgeries and procedures can cost tens of thousands of dollars
• Cancer treatments and specialist drugs can be even more expensive.

How health and trauma insurance helps

Comprehensive health insurance helps cover private healthcare costs, giving you faster access to diagnosis and treatment while reducing out-of-pocket expenses.

• Access specialists and procedures sooner
• Avoid long public waitlists
• Reduce the cost of surgeries, tests, and treatments

→ You can also explore tailored options, such as family health insurance, cover for children, cancer and mental health cover, dental benefits, and access to non-Pharmac-funded drugs

→ Options are also available for visitors and work visa holders in New Zealand.

Trauma (critical illness) insurance provides a lump sum payment if you’re diagnosed with a serious condition, like cancer, heart attack, or stroke, helping you focus on your recovery, not your finances.

• Covers treatment, recovery, or time off work
• Supports your family and ongoing expenses
• Reduces financial pressure during serious health events

→ Can be structured as a standalone cover or linked to your life insurance
→ Some plans allow multiple claims for different conditions, depending on the policy.

Total permanent disability (TPD) insurance provides a lump sum payout if you’re permanently unable to return to work due to your illness.

• Supports long-term living costs, care, and lifestyle changes
• Helps protect your financial future if your earning ability is lost

→ Can be structured as a standalone, linked to life insurance, or added to trauma cover.

If you want faster access to treatment and the right level of cover, Policywise can help you compare options and choose what suits you best.

Lifestyle and dependants at risk

Tauranga’s workforce includes a mix of professionals, business owners, tradespeople, and service workers.

Many residents support families and dependants. In Tauranga City, 35% of 61,587 dwellings have two residents, 17% have three, and 16% have four.

Source: Tauranga City Statistics

When life throws you a curveball, your dependants will also be affected. Life insurance provides a safety net to ensure that your loved ones are financially supported.

How life insurance helps protect your family

Life insurance provides a lump sum payment to your loved ones if you pass away or are diagnosed with a terminal illness. This will help them stay financially secure during an already difficult time.

• Helps cover mortgage repayments, rent, and daily living costs
• Supports your family’s long-term needs, such as education and household expenses
• Provides financial stability so your loved ones can maintain their lifestyle

→ Can be combined with trauma or disability cover to provide broader protection, often at a lower overall cost
→ Policywise can also help you explore joint life insurance, family life cover, or cover for your children.

Talk to a Policywise adviser to understand what level of cover would best protect your family.

Why it's best to get a financial adviser from an insurance broker in Tauranga

A broker’s value is in choice, clarity, and advocacy. Here’s what changes when you use Policywise instead of handling everything yourself.