Life insurance in New Zealand can be affordable, even with strong cover. Fortnightly premiums can start from under $10, depending on factors such as your age, health, sum insured, and the type of cover you choose.
Below are sample 2026 life insurance premiums by age (25-50), sex, and cover amount ($250,000 to $1 million). We also included prices for standalone life insurance policies and options with accelerated trauma or disability cover, as well as tips to make your cover more affordable.
Contact Policywise today to compare plans, get personalised quotes from New Zealand’s best life insurers, and discuss ways to get lower premiums.
Learn more about different types of insurance from a licenced financial adviser and see what's best for your circumstances.
Health | Life | Trauma | Total and Permanent Disability | Income Protection
How much does life insurance cost? (2026 quotes)
|
Sum insured |
Age 25 |
Age 30 |
Age 40 |
Age 50 |
|
Female (non-smoker) |
||||
|
$250,000 |
$9.04 - $9.82 |
$8.83 - $9.13 |
$10.90 - $12.35 |
$22.43 - $26.19 |
|
$500,000 |
$11.40 - $14.24 |
$10.75 - $13.06 |
$17.22 - $18.58 |
$38.54 - $42.53 |
|
$1 million |
$18.40 - $22.94 |
$17.22 - $20.79 |
$27.87 - $30.85 |
$68.17 - $74.16 |
|
Male (non-smoker) |
||||
|
$250,000 |
$11.80 - $14.65 |
$10.18 - $12.16 |
$11.97 - $14.07 |
$26.47 - $31.43 |
|
$500,000 |
$18.84 - $22.53 |
$15.93 - $18.51 |
$19.15 - $21.54 |
$45.24 - $51.46 |
|
$1 million |
$30.69 - $38.06 |
$26.70 - $30.87 |
$32.62 - $36.25 |
$80.44 - $90.23 |
|
Sum insured |
Age 25 |
Age 30 |
Age 40 |
Age 50 |
|
Female (non-smoker) |
||||
|
$250,000 |
$10.65 - $13.63 |
$11.83 - $14.01 |
$20.95 - $23.39 |
$44.71 - $50.58 |
|
$500,000 |
$14.09 - $17.81 |
$14.82 - $17.55 |
$26.70 - $29.00 |
$58.31 - $65.05 |
|
$1 million |
$20.86 - $25.64 |
$20.94 - $24.50 |
$35.45 - $40.04 |
$84.44 - $93.54 |
|
Male (non-smoker) |
||||
|
$250,000 |
$15.55 - $18.53 |
$14.76 - $16.57 |
$21.94 - $24.57 |
$56.08 - $62.91 |
|
$500,000 |
$21.65 - $25.62 |
$20.05 - $22.19 |
$28.70 - $31.29 |
$73.76 - $80.69 |
|
$1 million |
$31.09 - $39.60 |
$28.96 - $33.30 |
$40.03 - $44.53 |
$105.10 - $115.71 |
|
Sum insured |
Age 25 |
Age 30 |
Age 40 |
Age 50 |
|
Female (non-smoker) |
||||
|
$250,000 |
$8.32 - $10.86 |
$8.21 - $10.46 |
$11.94 - $15.25 |
$30.31 - $39.76 |
|
$500,000 |
$11.64 - $14.84 |
$11.56 - $14.31 |
$17.34 - $21.47 |
$45.12 - $56.10 |
|
$1 million |
$17.82 - $22.67 |
$17.82 - $21.76 |
$26.10 - $33.51 |
$68.80 - $87.73 |
|
Male (non-smoker) |
||||
|
$250,000 |
$11.94 - $15.33 |
$11.00 - $13.42 |
$13.05 - $16.30 |
$32.30 - $42.05 |
|
$500,000 |
$18.03 - $22.56 |
$16.66 - $19.59 |
$20.07 - $23.78 |
$50.69 - $62.08 |
|
$1 million |
$27.47 - $36.78 |
$24.73 - $31.53 |
$30.54 - $38.26 |
$78.84 - $100.85 |
*Based on quotes from AIA, Asteron Life, Chubb, Fidelity Life, nib, and Partners Life.
The figures above are indicative only. Your personal premium depends on your health, job, and lifestyle, as well as how your policy is structured.
Comparing life insurance policies from New Zealand’s most trusted insurers can help you get stronger cover at the best price. Book a 5-minute callback with Policywise for personalised quotes and recommendations tailored to your needs.
Factors affecting life insurance cost
Providers usually charge life insurance premiums based on the policyholder’s unique profile. The most common factors insurers consider when determining premiums are the following:
Age
Generally, younger individuals pay lower premiums as they are healthier and have a longer life expectancy. Premiums tend to rise as policyholders age, especially once they reach their mid-50s and 60s, due to an increased risk of illness or death.
Here’s what that can look like for $250,000 of life cover
- Age 30: From $8.83 per fortnight
- Age 40: From $10.90 per fortnight
- Age 50: From $22.43 per fortnight.
Biological sex
Premiums can differ for men and women, as insurers factor in different health and risk patterns over time.
Sample quotes for $500,000 life cover
Age 30:
- Females: $10.75 - $13.06 per fortnight
- Males: $15.93 - $18.51 per fortnight.
Age 40:
- Females: $17.22 - $18.58 per fortnight
- Males: $19.15 - $21.54 per fortnight.
Age 50:
- Females: $38.54 - $42.53 per fortnight
- Males: $45.24 - $51.46 per fortnight.
Type of cover
Some life insurance policies offer more protection than others. Examples may include payouts for medical costs, accidental death, critical illness, income protection, or total permanent disability. With this increased protection often comes an increase in premiums.
|
Sum insured |
Age 30, female |
Age 30, male |
|
Standalone life insurance plans |
$8.83 - $9.13 |
$10.18 - $12.16 |
|
Life insurance plans with $100,000 accelerated trauma cover |
$11.83 - $14.01 |
$14.76 - $16.57 |
|
Life insurance plans with $100,000 accelerated total permanent disability cover |
$8.21 - $10.46 |
$11.00 - $13.42 |
Amount of cover
Being insured for a larger amount means a greater cost to providers when the time comes for them to pay out on a policy. Hence, premiums increase along with the insured amount.
|
Sum insured |
Female |
Male |
|
$250,000 |
$10.90 - $12.35 |
$11.97 - $14.07 |
|
$500,000 |
$17.22 - $18.58 |
$19.15 - $21.54 |
|
$1 million |
$27.87 - $30.85 |
$32.62 - $36.25 |
Lifestyle
Lifestyle choices such as smoking, vaping, alcohol consumption, and risky hobbies or activities - e.g., skydiving or scuba diving - increase the likelihood of health issues and death. Consequently, providers may charge individuals with certain lifestyles higher premiums.
Medical history
Sometimes, prior illnesses lead to further ailments later. Also, some individuals are predisposed to developing certain conditions if they have a family history of the disease. In these cases, providers may apply a loading, which is an increased premium, to compensate the insurer for the increased risk.
How can I lower the cost of my life insurance premiums?
Here are some ways to potentially lower the cost of your life insurance premiums:
- Quit smoking and vaping: Smokers and vapers typically pay more for life insurance due to the increased health risks. But even if you are currently a smoker or vaper, you should still consider taking out cover. Quitting smoking and vaping can not only improve your health but also potentially lower your life insurance premiums to the non-smoking rates.
- Cut down on drinking: Excessive alcohol consumption can have negative effects on your health and may result in higher life insurance premiums.
- Get in shape: Maintaining a healthy BMI and exercising regularly can lower your risk of certain health conditions, which can translate to lower life insurance premiums.
- Consider major life changes: Major life events, such as marriage, divorce, buying a home, or having a child, may affect your life insurance needs and could also impact your premiums. Reviewing your cover periodically and adjusting it as required can help ensure you have adequate protection at a reasonable cost.
- Look for discounts: Some insurance providers offer discounts if you are a non-smoker, follow a healthy lifestyle, or have multiple policies with the same provider. Be sure to get in touch with Policywise about any discounts available across different insurers.
RECOMMENDED READINGS
How much life insurance do I need?
How to choose the right life insurance for your family
Life insurance for home loans: A guide for Kiwi home buyers
Best life insurance for those with pre-existing conditions
Term life insurance in New Zealand
Policywise: your partner in making wise insurance decisions
Policywise is a 100% free service which tells you which health, life, and disability insurance provider best fits your needs. We offer fast, comprehensive, and easy-to-understand comparisons of all leading providers, and a simple summary clearly recommending which insurer is best for your situation.
Not all insurance policies are the same. Policywise can help you sort out the duds, avoid the lemons, understand the fine print and exclusions, and get the right insurance for you and your family.
We make the important decision of where to buy your insurance super easy. We’ll answer your questions, provide experienced advice and quotes, and manage all the back and forth throughout the application process. Taking out your cover through us means you'll have our lifetime support and claims advocacy, and we'll help you negotiate a positive outcome at claim time. We can also take care of lodging any claims on your behalf and back you up if the going gets tough.
Check out the reviews on our homepage for how other New Zealanders have found our service, because now is the time to get your life insurance sorted. Give your family or someone you love the most outstanding financial support possible. Book a 5-minute callback with Policywise today; our service is fast and free.