The FSC has published its latest life insurance snapshot for the last quarter of 2022 which shows there are 4.1 million covers in place generating more than $3 billion in annual premiums. Some Kiwis could have more than one life policy.
By far the largest slice of premiums are being paid to cover term and accidental death, with trauma coming in second. Sitting in third place by value of premiums paid is income protection.
Quarterly claims to December were down on the previous quarter, sitting at around 275,000, against the September quarter’s 325,000. The March quarter of 2022 was the lowest of the year at 250,000 claims.
Data is supplied by FSC members.
FSC quarterly life insurance snapshot to December 2022.
FSC data reveals there are 4 million life policies in place - does this surprise you?
- Yes (64%)
- No (36%)
- Not sure (0%)
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