We’ll beat your current life insurance premium – or we pay you $50*

The CoverNZ $50 Guarantee is designed to give customers confidence that we can provide competitive life insurance premiums. If we are unable to beat your current premium for the same benefits, we will pay you $50, subject to the following terms and conditions:

1. Eligibility
   • The guarantee applies only to life insurance policies currently in force with a New Zealand-licensed insurer.
   • The existing policy must be active and fully paid up to date. Policies that are lapsed, in arrears, or pending cancellation are not eligible.
   • The policyholder must be a New Zealand resident.

2. Evidence of Existing Premium

1. • Clients must provide written evidence of their existing policy premium and cover details, supplied directly from their current insurance company.
   • Evidence must include:
     • Current premium amount
     • Policy number
     • Policy type and benefits covered
     • Confirmation that the policy is active and in force

3. Comparison Basis

1. • CoverNZ will compare premiums on the basis of like-for-like benefits. The guarantee does not apply where:
     • The existing cover includes exclusions, loadings, or terms that would not be replicated in a new policy.
     • The insured person’s medical or financial information provided for a new policy differs from that used in the original underwriting.
   • Premiums may be compared on either a monthly or annual basis, provided the basis is consistent between policies.

4. Payment of Guarantee

1. • If CoverNZ is unable to provide a lower premium for the same benefit level, we will pay the client NZD 50.
   • Payment will be made once CoverNZ has verified the evidence of the existing premium and confirmed that the policy meets eligibility requirements.
   • Payment will be made by electronic bank transfer within 30 days of confirmation.

5. Limitations

1. • Limit of one NZD 50 payment per client (regardless of the number of policies held).
   • The guarantee applies only to individual life insurance policies. Group policies, health insurance, trauma, income protection, or other types of insurance are excluded unless otherwise stated.
   • The guarantee cannot be used in conjunction with any other CoverNZ promotion.

6. General

1. • CoverNZ reserves the right to verify policy information directly with the existing insurer.
   • CoverNZ reserves the right to amend or withdraw this offer at any time without prior notice.
   • This guarantee does not constitute financial advice. Any comparison or recommendation will be provided in accordance with CoverNZ’s obligations as a licensed financial adviser.