Compare Loan Insurance Providers
Compare 8 leading New Zealand loan protection insurance providers side-by-side. See coverage, waiting periods, benefit limits, and key features — then get a quote directly from your preferred provider.
8 Licensed NZ Providers Compared
NZ Loan Insurance Providers
Click any provider to expand full details — coverage limits, waiting periods, and key features
Provider information sourced from official websites and public disclosures. Premiums vary by individual circumstances. Last updated April 2026.
At-a-Glance Comparison
Quick comparison of key features across all providers
| Provider | Max Benefit | Min Wait | Benefit Period | Strength | NZ Owned | Rating |
|---|---|---|---|---|---|---|
| AIA New Zealand | Up to $20,000/month | 4 weeks | 2 years | AA- | — | 4.5 |
| Partners Life | Up to 115% of mortgage repayments | 4 weeks | 2 years | A | 4.5 | |
| Fidelity Life | Up to $30,000/month | 2 weeks | 2 years | A- | 4.3 | |
| Asteron Life | Up to 115% of monthly mortgage repayments | 30 days | 2 years | AA- | — | 4.2 |
| Chubb Life | Up to 115% of mortgage repayments | At application | To age 55 | A | — | 4.0 |
| Autosure | Covers full loan repayments on vehicle finance | 30 days | Duration of vehicle loan | Not | 4.1 | |
| Provident Insurance | Covers loan repayments (varies by cover option) | 14 days | Duration of loan term | Not | 3.9 | |
| AA Life Insurance | Up to $1,000,000 lump sum payout | None | One-off lump sum payment | A+ | 4.0 |
Key Factors to Compare
Look beyond the price tag when comparing loan insurance policies
Premium Cost
Monthly or annual insurance costs vary by provider, age, and cover level
Cover Amount
Most providers offer up to 115% of mortgage repayments
Waiting Periods
Ranges from 2 weeks to 104 weeks depending on provider
Exclusions
Pre-existing conditions, hazardous activities, and more
Claims Process
How easy it is to claim and how quickly benefits are paid
Provider Rating
Customer satisfaction, financial strength, and reputation
How to Choose the Right Policy
Price vs. Coverage
Don't choose based on price alone. The cheapest policy might have higher waiting periods or lower coverage limits. Balance cost with the protection you actually need.
Waiting Period Impact
Shorter waiting periods mean faster benefit payment but higher premiums. Consider your savings buffer when deciding — most NZ providers offer 4 to 104 week options.
Policy Flexibility
Look for policies that allow you to adjust coverage or pause payments temporarily. Some providers like Asteron Life let you increase cover up to 10% annually without medical reassessment.
Claims Support
Choose insurers known for straightforward claims processes. Partners Life and AIA consistently rate well for claims support among NZ advisers.
Common Comparison Questions
QWhy does waiting period matter?
The waiting period is how long you must wait after claiming before benefits begin. In NZ, options range from as short as 2 weeks (Fidelity Life) to 104 weeks. Shorter waiting periods are better but cost more. Choose based on your savings buffer.
QIs the cheapest policy always the best?
No. A cheaper policy with a longer waiting period and lower coverage may not protect you adequately. Compare the full package — coverage amount, waiting period, benefit period, rehabilitation support, and claims reputation.
QCan I switch providers later?
Yes. Most policies allow you to switch providers if you find better terms. However, check for any exclusions that might apply to pre-existing conditions when moving to a new insurer.
QShould I choose an NZ-owned insurer?
NZ-owned insurers like Partners Life, Fidelity Life, and Autosure understand local conditions well. However, international insurers like AIA and Chubb bring strong financial backing. The best choice depends on your priorities — local expertise vs. global financial strength.
Comparison Disclaimer: Provider information on this page is editorial, based on publicly available data, and may not reflect current terms, premiums, or product availability. Ratings are our assessment at the time of publishing and are not a guarantee of performance or suitability. LoanInsurance.co.nz is a comparison and referral service — we are not an insurer, broker, or FMA-licensed financial adviser. Always visit providers directly for current policy wording and seek advice from a qualified financial adviser before making any insurance decision. Full disclaimer
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