nib New Zealand has launched a new range of life and living insurance products available exclusively through financial advisers.
This marks a significant expansion beyond the company’s core health insurance offerings.
Branded as “Ultimate Life & Living,” the range includes six products:
The suite updates and replaces the company’s previous life insurance offerings introduced in 2016.
Developed with input from reinsurers and adviser feedback, the product suite aims to enable more flexible and personalised cover options, supporting advisers in delivering tailored insurance solutions to clients.
The release of Ultimate Life & Living comes at a time of projected growth for the New Zealand life insurance sector. Data from research firm GlobalData indicates gross written premiums (GWP) in the life insurance market are expected to increase from $5.9 billion in 2024 to $8.3 billion in 2029, representing a 7% compound annual growth rate.
The growth outlook is attributed to rising demand for whole life and personal accident and health cover, coupled with an aging population and growing concerns over financial resilience amid economic pressures.
nib New Zealand chief executive Rob Hennin said the new offering is part of the insurer’s broader strategy to integrate health and life cover through the adviser channel.
“By offering life, living, and health cover, we’re creating stronger financial protection for members. When the unexpected happens, they have the financial support to enable them to focus on their health,” he said.
To promote the launch, nib hosted events across several locations in February and March, reaching more than 700 advisers.
During the campaign, the company partnered with psychologist and author Nigel Latta (pictured), who shared his own experience with insurance after being diagnosed with stomach cancer in 2024.
Latta told attendees that his immediate response following the diagnosis was to contact his insurance adviser.
“Perhaps unexpectedly, my first call immediately after receiving the news was to my insurance adviser. My concern was for my loved ones I’d leave behind should the worst happen, and whether I had the right plans in place to help ease their burden. Since then, I’ve been a huge advocate for insurance advisers and life insurance in general,” he said.
To streamline adviser operations, nib is introducing a new digital application system called nibAPPLY, allowing advisers to manage health, life, and living cover in one process.
The platform is designed to increase efficiency in quoting and submitting applications.
Advisers looking to offer the new suite must complete training and accreditation, with modules available online to accommodate varying levels of experience.
nib said it plans to support advisers through continuous training and resource development.
“We are committed to empowering advisers with the tools and knowledge they need to be successful,” Hennin said. “By offering high-quality insurance solutions and ongoing training, we’re helping advisers offer their clients greater financial security and confidence in their coverage.”
