Discounted will with Public Trust – In partnership with Momentum Life

Published on Fri Mar 21 2025 in News

Getting Funeral Insurance is a smart and prudent thing to do as part of your overall future planning, as is preparing your will. In line with this thinking, we at Momentum Life have partnered with Public Trust to offer you a great deal. 

Get 20% off your online will as a Momentum Life customer. Simply enter the code ML20 in the discount code field upon online checkout to claim your discount.
T&Cs apply.

Get started here.

FREE wills & EPAs webinar

Public Trust is hosting a free webinar on 27 March 2025, where the importance of having an up-to-date will and enduring powers of attorney will be delved into. Join in for an informative session on the hows and whys of having a will. 

Webinar registration link

 

 

The content provided in this article is for information purposes only. The information is of a general nature and does not constitute financial advice or other professional advice. To the extent that any of the content constitutes financial advice, it is limited to Momentum Life products only and does not consider your specific financial needs or goals. You should consider whether the information is appropriate for you and seek independent professional advice, if required.

All product information is correct at the time this article was published. For current product information, please visit the Momentum Life website.

What’s the Difference Between Life Insurance and Health Insurance?

Published on Wed Jan 15 2025 in News

When considering financial protection, it’s important to understand how life insurance and health insurance serve different purposes. Both provide peace of mind but address distinct aspects of financial security.

Health Insurance: A Focus on Medical Expenses

Health insurance is designed to cover the costs of medical care. This includes doctor visits, hospital stays, prescription medications, and treatments. In New Zealand, while public healthcare covers many essentials, private health insurance offers faster access to specialists and elective surgeries.

Life Insurance: Protecting Your Loved Ones

Life insurance, on the other hand, focuses on providing financial support to your family or other dependents in the event of your passing. It ensures your loved ones can manage expenses like mortgage repayments, education costs, or other financial commitments.

Momentum Life’s Platinum Life Insurance Features

Momentum Life offers Platinum Life Insurance with several standout features:

1. Flexible Coverage Amounts: You can choose a cover amount from $50,000 up to $1 million, depending on your age (18-65).

2. Worldwide Protection: Coverage applies 24/7, anywhere in the world.

3. Terminal Illness Benefit: A lump sum payment is made if you’re diagnosed with a Terminal Illness.

4. No Premiums After Age 90: Once you turn 89, your cover remains active without any further premium payments.

5. Simple Application Process: No medical exams or blood tests are needed in most cases, making it quick and straightforward to get covered

Key Differences at a Glance

Feature

Life Insurance

Health Insurance

Purpose

Provides financial support for family after death

Covers medical treatment costs

Payout

Lump sum to beneficiaries

Reimbursement or direct payment for medical services

Eligibility

Based on age, health and lifestyle questions

Based on health and medical history

Ongoing Benefits

 The policy ends when the benefit is paid.

 

Yes (regular medical coverage)

 

 

Why Choose Momentum Life?

Momentum Life’s Platinum Life Insurance is ideal for those seeking comprehensive, affordable cover with the flexibility to secure their family’s future. With no medicals required and coverage worldwide, it’s a hassle-free way to ensure peace of mind for you and your loved ones.

To explore more about their life insurance offerings, visit Momentum Life’s Platinum Life Insurance page.

 

The content provided in this article is for information purposes only. The information is of a general nature and does not constitute financial advice or other professional advice. To the extent that any of the content constitutes financial advice, it is limited to Momentum Life products only and does not consider your specific financial needs or goals. You should consider whether the information is appropriate for you and seek independent professional advice, if required.

All product information is correct at the time this article was published. For current product information, please visit the Momentum Life website.

World AIDS Day and the importance of Life and Funeral Insurance

Published on Fri Nov 29 2024 in News

Every year on December 1st, the world comes together to observe World AIDS Day—a day dedicated to raising awareness about the global impact of HIV/AIDS, supporting those living with the virus, and remembering the many lives lost to AIDS-related illnesses. It’s a day that reminds us of the importance of compassion, care, and solidarity, as well as the need for ongoing education and prevention.

While it might seem like an unusual topic for a funeral and life insurance website, the connection between HIV/AIDS awareness and life planning is one that can’t be ignored. World AIDS Day is not only about remembering those we’ve lost but also about supporting those who continue to live with HIV and ensuring that we all have access to the care and support we need, no matter what life throws our way.

The Importance of Awareness: What We’ve Learned Over the Years

Since the beginning of the HIV/AIDS crisis, much progress has been made in both the treatment of the virus and the reduction of stigma surrounding it. Thanks to modern medical advances, people living with HIV today can lead long, healthy lives, especially when diagnosed early and provided with the right care.

However, there’s still much work to be done. According to the World Health Organization (WHO), millions of people around the world are still affected by HIV, and too many continue to face barriers to receiving the necessary care and treatment. World AIDS Day serves as a reminder of the challenges that still lie ahead, as well as the progress we’ve made.

The red ribbon, a symbol of solidarity with those affected by HIV/AIDS, is widely recognised and worn by millions of people on December 1st. It’s an opportunity for everyone, regardless of their background or experience, to show support, whether through education, fundraising, or simply offering a kind word to someone living with HIV.

The Role of Life Insurance in Supporting Families and Individuals Affected by HIV

At Funeral and Life Insurance, we recognize that unexpected life events—whether due to illness, injury, or age—can place financial burdens on families. This is especially true for those dealing with long-term health conditions such as HIV, where medical costs and living expenses can be significant.

Having life insurance in place offers peace of mind, knowing that your family will be financially supported if something happens to you, and help ease the stress of unexpected medical bills and funeral costs. It’s a way to protect your loved ones, allowing them to focus on their well-being, rather than worrying about finances in the event of your passing.

Funeral insurance is equally important for those planning for the future. Dealing with a loved one’s passing is always difficult, but having funeral insurance in place can relieve your family of the financial strain, giving them the space to grieve without the added burden of arranging and paying for a funeral. This can be particularly important for people living with chronic illnesses like HIV, as it ensures that loved ones are taken care of during a challenging time.

Supporting the Community: What You Can Do on World AIDS Day

While World AIDS Day is a day of reflection and remembrance, it’s also a day for action. Here are a few ways you can get involved:

Wear a Red Ribbon: Show your support for those living with HIV/AIDS and honor those we’ve lost by wearing the iconic red ribbon.

Donate: Consider donating to organizations that support people living with HIV/AIDS, such as the New Zealand AIDS Foundation (NZAF), which works to promote HIV prevention, care, and support.

Get Educated: Use this day as an opportunity to learn more about HIV/AIDS, its prevention, and the challenges people living with HIV face. Awareness and education are crucial in reducing stigma and ensuring more people have access to the care they need.

Support People Living with HIV: If you know someone living with HIV, reach out with kindness and offer support. Whether it’s offering a listening ear, helping with daily tasks, or just being there for them, small gestures can make a big difference.

The Connection Between Life Planning and HIV

While HIV may not always be the first thing people think of when it comes to life and funeral insurance, it’s important to recognize that having the right coverage can be a crucial step in securing a better future for yourself and your family. Life and funeral insurance provide a safety net in uncertain times, whether due to illness or other unforeseen circumstances.

At Funeral and Life Insurance, we believe in the importance of planning for the future, no matter what life brings. Whether you’re living with illnesses or managing other health conditions, securing life insurance and funeral insurance can give you and your loved ones peace of mind. It’s one less thing to worry about when navigating the complexities of life, allowing you to focus on the moments that matter most.

Reflecting on the Future

This World AIDS Day, take a moment to reflect not only on the challenges faced by those living with HIV but also on how you can take action to help make a difference. Whether you’re showing support through awareness or planning for the future with life insurance, it’s a day to make sure that we all do our part to support each other—both now and in the years to come.

Together, we can help ensure that every person, regardless of their health status, can have the security and peace of mind they deserve.

 

The content provided in this article is for information purposes only. The information is of a general nature and does not constitute financial advice or other professional advice. To the extent that any of the content constitutes financial advice, it is limited to Momentum Life products only and does not consider your specific financial needs or goals. You should consider whether the information is appropriate for you and seek independent professional advice, if required.

All product information is correct at the time this article was published. For current product information, please visit the Momentum Life website.

Our Public Trust partnership & a shiny new offer

Published on Mon Nov 11 2024 in News

Momentum Life has had a long-standing partnership with Public Trust, through which you can get 20% off your Will and Enduring Power of Attorney with Public Trust when you sign up for a policy with us. 

What’s more, if you create your will, enduring power of attorney or statement of wishes with Public Trust before 8 December, you’ll not only get 20% off, but also automatically enter the draw to win one of ten $1,000 vouchers. 

Winners can select a voucher from one of the following retailers: 

Farmers | Z Energy | Mitre 10 | New World | Rebel Sport

For more information and Terms and Conditions, please visit – Public Trust Promotional Offers Terms and Conditions

For more on Momentum Life’s partnership with Public Trust, see our FAQs page.   

 

The content provided in this article is for information purposes only. The information is of a general nature and does not constitute financial advice or other professional advice. To the extent that any of the content constitutes financial advice, it is limited to Momentum Life products only and does not consider your specific financial needs or goals. You should consider whether the information is appropriate for you and seek independent professional advice, if required.

All product information is correct at the time this article was published. For current product information, please visit the Momentum Life website.

What is Life Insurance? A video guide from Momentum Life

Published on Tue Oct 29 2024 in News

Life Insurance can be a complex concept to understand, but put simply, it’s a financial safety net designed to protect your loved ones in the event of your unexpected passing. It provides a lump sum payment to your beneficiaries, which can be used to cover expenses such as funeral costs, mortgage repayments, education fees, or general living expenses.

Momentum Life’s Life Insurance pays out a lump sum of up to $1m. Take a look at our explainer video to know more. 

Need more info? Our Life Insurance product page will answer all your life insurance-related questions.

The content provided in this article is for information purposes only. The information is of a general nature and does not constitute financial advice or other professional advice. To the extent that any of the content constitutes financial advice, it is limited to Momentum Life products only and does not consider your specific financial needs or goals. You should consider whether the information is appropriate for you and seek independent professional advice, if required.

All product information is correct at the time this article was published. For current product information, please visit the Momentum Life website.

Weathering the Storm: Why Life Insurance is a Crucial Investment

Published on Wed Oct 2 2024 in News

As New Zealand braces for a potentially severe weather season, it’s a timely reminder of the unexpected challenges life can throw our way. While we can’t control the weather, we can take steps to protect ourselves and our loved ones financially. One such safeguard is life insurance.

Why Life Insurance is a Lifeline in Uncertain Times

  • Financial Security for Loved Ones: Life insurance ensures that your dependents are financially protected in the event of your untimely passing. This can cover essential expenses like mortgage payments, utility bills, and daily living costs.
  • Debt Protection: If you have outstanding debts, life insurance can help your loved ones pay them off, relieving them of financial burdens.
  • Income Replacement: For the primary breadwinner in a family, life insurance can provide a stream of income to replace your earnings, helping your family maintain their standard of living.
  • Unexpected Expenses: Life insurance can help cover unforeseen financial challenges that could arise after one’s passing, such as relocation expenses for the family, or counselling fees associated with therapy for grief. 

Choosing the Right Life Insurance Policy

When selecting a life insurance policy, consider these factors:

  • Coverage Amount: Determine the amount of coverage needed to adequately protect your loved ones.
  • Other benefits: Certain insurance providers offer additional benefits that can work well for your individual needs. For example, Momentum   Life offers a $10,000 Advance Funeral Payment on its Life Insurance; you can also get Interim Accidental Death Cover from day one (both benefits subject to terms and conditions in the policy wording). 

Don’t Wait for a Storm

While severe weather events can highlight the importance of life insurance, it’s essential to have this protection in place regardless of the weather conditions. By investing in life insurance, you’re taking proactive steps to safeguard your family’s financial future and provide them with peace of mind.

 

The content provided in this article is for information purposes only. The information is of a general nature and does not constitute financial advice or other professional advice. To the extent that any of the content constitutes financial advice, it is limited to Momentum Life products only and does not consider your specific financial needs or goals. You should consider whether the information is appropriate for you and seek independent professional advice, if required.

All product information is correct at the time this article was published. For current product information, please visit the Momentum Life website.

Life Insurance Trivia: Test Your Knowledge

Published on Fri Sep 20 2024 in News

Think you know Life Insurance inside and out? Put your knowledge to the test with this fun Life Insurance trivia quiz. 

General Life Insurance 

1. True or False? Life insurance can only be purchased by individuals. 

2. What is the difference between whole life and term life insurance

3. Who typically benefits from a life insurance policy? 

Life Insurance Built-in Benefits 

1. What is a built-in benefit in the context of life insurance? 

2. Can you name a common built-in benefit that provides additional coverage for specific life events? 

Why have Life Insurance?

1. When is the best time to purchase life insurance? 

2. What factors should be considered when determining the amount of life insurance coverage needed? 

Answers: 

General Life Insurance 

1. False. Businesses can also purchase life insurance, often referred to as key person insurance. 

2. Whole life insurance provides lifelong coverage with a cash value component, while term life insurance provides coverage for a specific period. In New Zealand, whole life insurance policies are less common. 

3. Typically, the beneficiaries of a life insurance policy are the insured person’s loved ones, such as their spouse, children, or parents. 

Life Insurance Built-in Benefits 

1. Built-in benefits are additional benefits that may be built into your insurance policy. These can vary between insurance companies, so it’s important to check your policy and see what’s included in yours. 

2. A common built-in benefit is the accidental death cover, which provides a lump sum payment if the insured dies as a result of an accident. 

Why have Life Insurance?

1. Life insurance nearly always coincides with some of life’s biggest milestones—like falling in love, buying a home, having a baby, or starting a business. Why? Because these moments bring new responsibilities. Life’s getting more serious, and you’re stepping up to handle it. 

Think of a life insurance policy as a bit of a safety net. It’s there to give you peace of mind, knowing that if something happens to you, your loved ones will be financially taken care of. That means easing any financial stress if your income stops due to injury, illness, or in the worst-case scenario, if you pass away. 

2. Factors to consider when determining the amount of life insurance coverage needed include your income, expenses, debts, and the number of dependents. 

How did it go, what score did you get? Share this article with your friends and whānau and spread the word about Life Insurance. 

The content provided in this article is for information purposes only. The information is of a general nature and does not constitute financial advice or other professional advice. To the extent that any of the content constitutes financial advice, it is limited to Momentum Life products only and does not consider your specific financial needs or goals. You should consider whether the information is appropriate for you and seek independent professional advice, if required.

All product information is correct at the time this article was published. For current product information, please visit the Momentum Life website.

Changing Farewells

Published on Tue Aug 20 2024 in News

Why is it important to think about death and dying? Although it may not be a fun topic, understanding how funerals are changing can help you and your family prepare for the future. Planning a funeral in advance can relieve stress for your loved ones. So, let’s take a look at how funerals are evolving.

According to the 2023 New Zealand Funeral Industry Trends report, over 38,000 families said goodbye to their loved ones last year. The report also highlights that both the way we say farewell and the funeral industry itself is changing. Here are some key stats and trends from the report:

 

Current Trends in Deaths

  • Rising Death Numbers: As the population in New Zealand grows and ages, the number of deaths is increasing. In 2022, there were 38,868 deaths. Although the country saw a temporary drop in deaths in 2020 due to a successful Covid-19 response, the 2022 figures show an upward trend as things return to normal.
  • Increased Longevity: People are living longer now, with the median age of death rising to 80.9 years, compared to 72.7 years forty years ago.More than half (53%) of deaths now occur at age 80 or older.
  • Centenarians on the Rise: The number of people living to 100 years and older has increased significantly, which is impressive. In 2022, there were 459 deaths of individuals aged 100 and over, a 61% increase from 2016. We wonder what their secret is.
  • Disparities in Age at Death: The median age at death for Māori is lower compared to the general population, at 71 years for Māori women and 66 years for Māori men.

Where We Die
While statistics on the ‘place of death’ are collected they’re not fully coded, but it’s estimated that about 70% of deaths occur in hospitals or aged care facilities.

Coronial Deaths
Deaths that are sudden, unexplained, or unnatural are reported to the coroner. In the 2020/2021 period, around 5,700 deaths were reported to coroners, with 3,600 cases accepted for investigation.

Assisted Dying
Since the legalisation of assisted dying in 2021, there has been a notable development in this area. Between November 2021 and November 2022, there were 661 applications for assisted dying, with 399 eligible and 257 resulting in assisted deaths. Most assisted deaths occur at home or in private residences (80%).

Understanding these trends helps you to make informed decisions. For a more detailed overview of how funerals are changing in New Zealand, check out this article: 2023 New Zealand Funeral Industry Trends Report.

Pre-planning your final goodbye will make it easier – for you and your family.

Funeral planning
Pre-planning your funeral and how you want to be farewelled is more important than ever. With New Zealanders living longer and more options available for funerals, there is more stress and strain on your loved ones when the inevitable happens. You can help reduce this stress by leaving a plan in your will of your final wishes. This gives your family the guidance they need to honour your wishes during a difficult time.

Funeral insurance can also help relieve the financial burden. With the rising costs of funerals, having a funeral insurance policy ensures your family won’t have to bear the full financial responsibility during a time of grief. This type of insurance typically covers expenses like the funeral service, burial or cremation, and other related costs, allowing your loved ones to focus on celebrating your life rather than worrying about money.

Preparing for the end of life is never easy, but with the right information and planning, you can ensure that your final farewell happens according to your wishes, with minimal financial strain on your family.

If you have any questions or would like more information, please get in touch with us at Momentum Life. We’re here to help you every step of the way.

The content provided in this article is for information purposes only. The information is of a general nature and does not constitute financial advice or other professional advice. To the extent that any of the content constitutes financial advice, it is limited to Momentum Life products only and does not consider your specific financial needs or goals. You should consider whether the information is appropriate for you and seek independent professional advice, if required.

All product information is correct at the time this article was published. For current product information, please visit the Momentum Life website.

Momentum Life has won the Feefo Platinum Trusted Service Award

Published on Thu Jul 4 2024 in News

Momentum Life has been awarded, the Feefo Platinum Trusted Service Award for the fifth year in a row, the highest accolade from our customers, showcasing the high-quality service we provide every day. 

Since 2018, Momentum Life has been consistently recognised and awarded by Feefo for delivering world-class customer experiences. This is a testament to our commitment to providing outstanding service to our customers, a commitment that we will continue to uphold in the future. 

Feefo established the Trusted Service Awards in 2014 to recognise brands that use the platform to collect verified reviews and receive exceptional customer feedback. The awards are unique because they truly reflect a business’s dedication to providing outstanding customer service by analysing feedback from real customers. 

 

The Platinum Trusted Service Award is awarded to companies that achieved Gold standards for three consecutive years. Momentum Life has received this Platinum Service Award for the fifth year in a row. 

Lloyd Cartwright, Chief Executive Officer for Momentum Life, commented: “We are humbled that our customers recognise our commitment to putting them at the heart of everything we do here at Momentum Life. We are driven to ensure we bring a fresh approach to how we communicate and engage with our customers in a way that resonates with them, avoids jargon, and focuses on real risks and solutions. Our amazing team is already on this journey, grounded in values that set us apart from traditional insurance companies.And this award shows that our customers recognise our efforts”. 

Congratulating Momentum Life on winning this year’s award, Tony Wheble, CEO at Feefo, said: “With customers continuing to build resilience in a time of economic uncertainty, we’re delighted to showcase thousands of our clients who are continuing to go above and beyond for each and every customer. The Trusted Service Awards have always been about recognising companies that go way beyond the norm in customer service and, in turn, receiving great feedback from delighted customers. A particular congratulations to Momentum Life for, again, winning a Platinum Trusted Service Award by providing great customer service consistently over a number of years. I look forward to seeing them continue to achieve next year and beyond.” 

New Zealanders can call 0800 111 679 for a no-obligation quote. 

The content provided in this article is for information purposes only. The information is of a general nature and does not constitute financial advice or other professional advice. To the extent that any of the content constitutes financial advice, it is limited to Momentum Life products only and does not consider your specific financial needs or goals. You should consider whether the information is appropriate for you and seek independent professional advice, if required.

All product information is correct at the time this article was published. For current product information, please visit the Momentum Life website.

Having insurance when money is tight

Published on Thu Jun 27 2024 in News

 

It can be frustrating to manage your money when things cost more. Everything is getting more expensive and it’s tempting to cut back wherever you can. It may be tempting to cancel your insurance as a quick and easy short-term solution. Before you do that, you should think about why you got insurance in the first place.Keeping your cover is important and we can share some tips with you to help manage your premiums.

 

The importance of Insurance: 

Life and Funeral Insurance helps you and your family to keep moving forward even when the unexpected happens. It will quickly pay you or your family a lump sum if you get terminally ill or pass away – helping make sure that they have the financial means to help with everyday costs, funeralcosts, outstandingdebts,future expenses like school fees or even car repayments.

 

Managing your insurance premiums 

Instead of cancelling your insurance policy, consider these alternatives to make your payments easier. 

 

Flexible payment options: 

·        Switch to fortnightly or monthly payments:Rather than paying your premiums annually, consider spreading out the cost by paying fortnightly or monthly.Thiscan help make your payments more manageable andeasiertofit into your budget. Here’s a handy tip: Schedule your payments for right after payday to make sure they get covered.

 

Review your financial priorities: 

·        Reevaluate your budget: You might be able to save money in other areas to keep your insurance. This way, you can hold onto the important protection you got the insurance for in the first place.

 

Adjust your coverage: 

·        Review and adjust your policy:Talk to your insurance provider about adjusting your coverage to better fit your current financial situation. You may be able to lower your premiums by reducing the cover amount. For example, if your mortgage has reduced, or if you’ve made lifestyle changes like quitting smoking, you could see a drop in your life insurance costs.

 

Explore discounts and savings: 

·        Look for discounts:If youhaven’tcommitted to an insurance provider yet, did you know that some insurance providers offer discounts for various reasons, for example, at Momentum Life you can add multiple lives to a Funeral Insurance policy which would allow you to qualify for discounts. If you already have a provider,it’sgood news to know that maintaining a healthy lifestyle can sometimes help get you lower premiums. Ask your provider if you qualify for any savings. 

 

Why youshouldn’tcancel your insurance 

Peace of mind 

·        Insurance gives you peace of mind. Life throws curveballs, and insurance helps you and your family face them without worrying about the costs and financial pressure too.

 

Responsibility 

·        Getting insurance is a way to show you care. It might seem easier to skip payments now, but it could cause your family trouble later when they need less to worry about.   

 

The long-term benefits: 

·        Life Insurance premiums are often lower when you are younger and healthier. Cancelling now might mean higher premiums if you decide to get insured again later, as age and health factors will affect the cost.

 

Your initial intentions: 

·        Reflect on why you got life or funeral insurance in the first place. The desire to protect yourfamily’sfinancial future remains relevant, even when money is tight. Consider the long-term benefits and peace of mind that comes with maintaining your insurance. 

 

Times are tough, and managing your money can be hard. However, the desire to protect your family’s financial future remains relevant, even when money is tight. Rather than cancelling your insurance, there might be better ways to lower your monthly payments. Keeping your insurance will help you protect your loved ones in the long run.   

 

At Momentum Life, we are committed to helping you find the best solutions to keep your cover intact and yourfamily’sfuture secure. 

The content provided in this article is for information purposes only. The information is of a general nature and does not constitute financial advice or other professional advice. To the extent that any of the content constitutes financial advice, it is limited to Momentum Life products only and does not consider your specific financial needs or goals. You should consider whether the information is appropriate for you and seek independent professional advice, if required.

All product information is correct at the time this article was published. For current product information, please visit the Momentum Life website.