Life Cover

Get to know $1 a Day Life Cover from top to bottom—buying a policy, making a claim and everything in between.

How does $1 a Day Life Cover work?

$1 a Day Life Cover is a little different than other insurance policies. Instead of you selecting a cover amount and...

Who is the insurer? Does someone back up your policies?

$1 a Day Life Cover is insured by Momentum Life Limited (FSP472286). They are a fully-licensed insurance company...

How much life cover can I get?

The amount of life cover you can get will depend on a few factors: your age, gender and whether you smoke (known as...

How is my cover amount calculated?

To find out how much $1 a Day Life Cover we can offer, we just need to ask your age, gender and if you’re a...

How much will my cover decrease every year?

The amount that your $1 a Day Life Cover will decrease each year depends on things such as your age, gender and...

Can I get more cover? What’s this Cover Booster I keep hearing about?

Yes! By paying just an extra 25c per day, you can boost your cover. Your Cover Booster amount will depend on your...

Will my payments go up each year?

No! We’ve locked prices at just $1 a day (plus any Cover Booster you choose to add), so you’ll always know how much...

Who can get $1 a Day Life Cover?

New Zealand residents who are between 21 and 55 years...

Why do you need to know my age?

We need to know your age for two important reasons:

  1. You must be between 21 and 55 years old to buy $1...

How do I get $1 a Day Life Cover?

Getting $1 a Day Life Cover is easy. Just answer a few quick questions on...

Can I get life cover for my family too?

All $1 a Day Life Cover policies cover just one person. If someone in your family would like to be covered too, just...

Can I buy more than one $1 a Day Life Cover policy for myself?

No. Only one $1 a Day Life Cover policy can be purchased per person.

If more than one life cover...

What's covered by $1 a Day Life Cover? What isn’t covered?

A $1 a Day Life Cover policy benefit and booster will be paid if the person covered dies or is diagnosed with a...

Why are some medical conditions not covered?

To keep premiums at just $1 a day, we need to build some exclusions into each policy. If we included certain health and...

Do I need to see a doctor before I buy a policy?

Nope! Simply answer a few quick questions (including

I’m a smoker. Will this affect my cover? What substances count towards smoking?

Short answer: yes.

Smokers may be more likely to develop some serious health problems, making it tougher for...

OK, can I just fib about my smoking habit, then?

Well, you could, but we don’t recommend it.

When a claim is made on a policy, we may ask for...

I’ve quit smoking. Can I get more cover?

Firstly, congratulations on quitting! We’re happy to take a second look at your policy once you’re...

Can I decide who receives my benefit?

You can pick up to 5 beneficiaries - the people who will receive all or a share of your life cover benefit...

When will you start billing me?

You get to pick the date when we start charging you and how often you’d like to be billed when you buy a policy. Then,...

What are my payment options?

Payment can be made using your credit card or direct debited from your bank account. This can be done fortnightly,...

When does my $1 a Day Life Cover start and end?

$1 a Day Life Cover starts on the date you buy a policy (known as the acceptance date). There are some

Are there any waiting periods on this policy?

Yes. There is a 5-year waiting period for death caused by pre-existing conditions or suicide on all $1 a Day Life...

How long can I keep my $1 a Day Life Cover?

So long as your policy is paid, you can keep it up until age 70. Once you turn 70, your $1 a Day Life Cover policy...

Am I covered if I travel or move overseas?

Sure thing - so long as you’re an NZ...

When does a $1 a Day Life Cover policy pay out?

The benefit on all $1 a Day Life Cover policies may be paid out either when the person who is insured dies or is...

How do I make a claim?

To make a claim, download either the

Can I change my mind after I’ve bought my policy?

Sometimes people have a change of heart when they buy life insurance. If you’re unsure about your policy,...

How do I cancel my policy?

You can cancel your policy at any time. Just give us a call...

I’ve cancelled my policy but would like it back. Can you reactivate it?

No. Once a policy is cancelled, it cannot be reactivated. You will need to buy a new policy. If you decide to do this,...