Loading ...Our latest poll is seeking to understand if pressure on household budgets is impacting the level of new life insurance business advisers are writing.
The question arises after the FSC’s latest Spotlight on Life Insurance shows life insurance cover numbers are softening as premium pressure builds.
And we are wondering if your adviser practice is being directly affected by tightening household budgets?
The FSC says its latest Spotlight shows a life insurance sector continuing to support New Zealanders, while also facing a clear challenge around access, affordability and cover levels.
FSC industry data shows four million life insurance covers across New Zealand, against an estimated population of 5.35 million – as at 31 March 2026. It’s September 2025 Quarterly Snapshot showed 4.13 million life insurance covers.
The council says annual life insurance premiums reached $3.31 billion, up 2.7% year-on-year, “…even as cover numbers continued to fall across several key products.”
The FSC says this suggests New Zealanders are still paying for important protection, but fewer covers across key product areas “…may point to pressure on household budgets, changing customer needs or people reassessing the level of cover they can afford.”
We are interested to understand your experience in the current climate and will report back next week…