Question 1

How much life cover do I actually need?

Accepted Answer

A common starting point is enough to clear the mortgage, replace 5–10 years of income, and fund known future costs like children's education. Your Marble Life adviser will run the numbers with you rather than relying on a rule of thumb.

Question 2

What's the difference between level and stepped premiums?

Accepted Answer

Stepped premiums start lower and rise each year with age. Level premiums are higher at the start but hold steady, so the total cost is usually lower if you keep the cover long-term. Which is right depends on how long you'll hold the policy and your cashflow.

Question 3

Do I need a medical to get life insurance?

Accepted Answer

Not always. Most applications are underwritten from a health and lifestyle questionnaire. A medical, blood test or GP report is only requested when the sum insured is large or a specific answer needs clarifying.

Question 4

What isn't covered by life insurance?

Accepted Answer

Standard exclusions include suicide inside the first 13 months, and anything you didn't disclose at application. Beyond that, life cover pays out on death from any cause – illness, accident, natural causes.

Question 5

Can I own life cover through my business?

Accepted Answer

Yes. Life cover is often held for shareholder buy-out, key person or debt-protection purposes. Ownership and beneficiary structure matters for tax and estate outcomes – we'll set it up properly.

Question 6

What does health insurance actually pay for?

Accepted Answer

Private hospital treatment – surgery, specialist consultations, diagnostics like MRI and CT, and often non-Pharmac cancer drugs depending on the plan. It doesn't replace GP visits or ACC-covered accidents.

Question 7

Will pre-existing conditions be covered?

Accepted Answer

Any condition you had signs, symptoms or treatment for before applying is typically excluded – either permanently or for a stand-down period. Full, accurate disclosure at application avoids claim surprises later.

Question 8

Are non-Pharmac cancer drugs included?

Accepted Answer

Most modern plans include a non-Pharmac drug benefit (often $200k–$500k+). It's one of the most valuable parts of health cover in NZ and worth checking on any existing policy.

Question 9

What is trauma insurance and how is it different from health cover?

Accepted Answer

Trauma (critical illness) pays a lump sum on diagnosis of a listed serious condition – cancer, heart attack, stroke and 40+ others. Health insurance pays medical providers; trauma pays you, to use however you need.

Question 10

How much trauma cover is enough?

Accepted Answer

Enough to cover 12–24 months of income and out-of-pocket costs while you focus on recovery. For many families that lands between $100k and $250k, but it depends on debt, savings and dependents.

Question 11

When does TPD cover pay out?

Accepted Answer

When illness or injury means you're permanently unable to work – either in your own occupation or any occupation you're suited to, depending on the definition. It's a lump sum, usually claimed after 3–6 months of continuous disablement.

Question 12

Do I need TPD if I already have income protection?

Accepted Answer

They do different jobs. Income protection replaces monthly income; TPD pays a lump sum for permanent, life-changing disability – to clear debt, modify a home, or fund long-term care.

Question 13

How much of my income can I insure?

Accepted Answer

Typically up to 75% of pre-tax earnings, sometimes 55% on an agreed-value basis. Insurers cap it below 100% so there's still a reason to return to work.

Question 14

What's a wait period and benefit period?

Accepted Answer

The wait period is how long you're off work before payments start (commonly 4, 8, 13 or 26 weeks). The benefit period is how long payments continue – 2 years, 5 years, or through to age 65/70.

Question 15

Does ACC replace the need for income protection?

Accepted Answer

No. ACC only covers accidents, and only pays 80% of pre-injury earnings. Income protection covers illness (the majority of long-term claims) and can top up ACC where needed.

Question 16

How is mortgage protection different from income protection?

Accepted Answer

Mortgage protection is a simpler, cheaper form of income cover – benefits are capped to your mortgage repayment amount rather than a percentage of income. Faster to underwrite, lighter on features.

Question 17

Do I need it if my life cover already clears the mortgage?

Accepted Answer

Life cover pays on death or terminal illness. Mortgage protection keeps repayments going if you can't work due to illness or injury – a different risk. Many households hold both.

Question 18

How much should I contribute to KiwiSaver?

Accepted Answer

Employees choose 3%, 4%, 6%, 8% or 10% of gross pay. To capture the full Government contribution ($521.43/year), you need to contribute at least $1,042.86 across the KiwiSaver year (1 July–30 June).

Question 19

What's the difference between a growth, balanced and conservative fund?

Accepted Answer

It's about how much of the fund is invested in shares vs bonds and cash. Growth funds have more shares – higher long-term returns, bigger short-term swings. Conservative funds are the opposite. Time horizon and how you feel about drops in balance drive the right pick.

Question 20

Can I use KiwiSaver to buy my first home?

Accepted Answer

Yes, after 3 years of membership you can withdraw most of your balance (leaving $1,000) toward a first home purchase. You may also qualify for the First Home Grant depending on income and property price caps.

Question 21

When can I access my KiwiSaver?

Accepted Answer

At age 65, or earlier for a first-home purchase, significant financial hardship, serious illness, or permanent emigration. Otherwise it stays locked in until retirement.

Question 22

Does Marble Life provide KiwiSaver advice?

Accepted Answer

Yes – we give independent, fee-based KiwiSaver advice on fund selection, contribution rate and provider fit. We don't run a KiwiSaver scheme ourselves, so the advice isn't tied to a product.

Frequently asked questions.

Life insurance FAQs

Life Insurance

Personal insurance FAQs

Health Insurance

Trauma Insurance

TPD

Income Protection

Mortgage Protection

KiwiSaver FAQs

KiwiSaver

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