How The Terminal Illness Benefit Works In Life Insurance
A terminal diagnosis changes the timeline, but it also changes what your life insurance can do. Many people think life insurance only pays out when you die. We talk through the part most Kiwis miss: the terminal illness benefit that can pay some or all of your sum insured early when you’re deemed to have 12 months or less to live (depending on the insurer). That single detail can reshape how you plan for care, treatment options, time off work, and the financial reality your partner and kids may face.
We use a simple example with a mortgage, kids’ education, and an emergency buffer to show the…
The skinny
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