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Family Protection Insurance

If you died, would you like to leave your family with a guaranteed monthly income payable for 10 years, and make sure that you continue to provide for their upkeep?

Special Offer for July

Cash Bonus when you apply for cover online. Details
New World gift card when your policy is issued. Details
Discount for Life Cover + one other benefit. Details
Earn Airpoints Dollars™. Details

What is Family Protection Insurance?

Family Protection insurance is a life insurance policy which pays a monthly benefit instead of a lump sum benefit in the event of your death. The monthly benefit is non-taxable, and is paid for a guaranteed period of 10 years. The policy provides an ongoing income for the upkeep of your family.

  • Tax-free benefit following death.
  • Guaranteed equal monthly benefits paid over 10 years.
  • 24 x 7 worldwide cover – No Country Exclusions.
  • Cover doesn’t expire at any age.
  • Future policy enhancements automatically included.
  • Increase your cover following special life events (e.g. having a child).
  • Immediate bereavement support benefit of up to $15,000.
  • Only one exclusion (for suicide within the first 13 months).
  • Free interim cover while your application is being processed.

Family protection insurance is also an ideal complement to life insurance. As well as having life insurance to clear your mortgage and other borrowings, have a family protection insurance policy too to provide an ongoing income for the upkeep of your family. Lump sum and income—a perfect combination.

Policy Features

Sovereign TotalCareMax Family Protection insurance includes all the following great features:

Rock-Solid Backing

The policy is underwritten by Sovereign, New Zealand’s largest life insurer. Sovereign has an A+ (Superior) financial strength rating from A.M. Best Company, the highest rating of any life insurance company in New Zealand.

Monthly Income for 10 Years

Leave a monthly, tax-free income to your family, payable for a full 10 years. Choose a monthly income level with a fixed and guaranteed payment term of 10 years.

24 x 7 Worldwide Cover

Whether you’re at home, or travelling or working anywhere overseas for any period, you remain covered under your policy for family protection insurance benefits.

Cover Never Expires

Your family protection policy does not expire at any age. This means that there is no upper age limit to your cover. You can continue to be covered regardless of your age.

Tax-Free Benefits

Any and all benefits payable under your family protection insurance policy are paid free of tax under current New Zealand legislation, directly to the policy owner.


There is no GST payable on family protection insurance premiums. Under New Zealand legislation, all family protection insurance premiums are fully exempt from GST.

Special Events Increases

You can increase the amount of cover under your family protection insurance policy when particularly important events occur in your life, without the need for you to complete any medical questions, examinations or tests.

Guaranteed Enhancement

If any change is made to the underlying policy in the future, and that change would be favourable to you, then guaranteed enhancement means that the change will automatically be applied to your policy. Conditions apply.

Free-Look Period

If at any time during the 15 days following receipt of your policy you don’t wish to continue with your cover (for whatever reason at all), you can return your policy for a full refund of all premiums paid.

Customer Guide

Download or view the customer guide:

Family Protection Customer Guide PDF

Family Protection Customer Guide

Want to Know More?

Check out the FAQs for answers to frequently asked questions.

View or download a copy of the policy wording.

(Superior) Financial Strength Rating from A.M. Best Company, Inc. Rating scale

Special Offer

New World Promotion

Apply online today to be eligible for a 25% Cash Bonus, a $100 New World Gift Card (minimum premium required) and earn Airpoints Dollars™.
25% Cash Bonus details
$100 New World Gift Card details
Airpoints Dollars™ details

Plus, get a 10% Discount every year for any policy which includes either Life Cover for two people or Life Cover for one person plus at least one other eligible benefit (minimum cover and premium criteria apply).
Life + One 10% Discount details

Important Information

  • The above identifies and provides a brief summary only of the principal benefits under the policy. Please refer to the policy wording, including the policy appendix and schedule, for full details of all the benefits and the terms and conditions under which they are provided.