Term Life Insurance

  • Anyone with financially dependent family members
  • Anyone with a mortgage
  • Anyone in business (partnership or self-employed)
  • Anyone needing 'key person' cover
  • Provides a lump sum payment when you die
  • The payment can be used for any purpose
  • No minimum premium requirements - choose the cover amount that's right for you
  • Worldwide cover
  • Three cover options


Option 1 - Annually Renewable Term Life

  • New Zealanders aged 18-64 years can apply
  • Policies renew automatically every year until age 75
  • Premium payments increase annually as you age
  • Terminal Illness cover included 
  • Cost of Living Adjustment optional


Option 2 - Level Premium Term Life

  • New Zealanders aged 18-74 years can apply
  • Policies renew automatically every year until age 75
  • Premium payments are fixed making budgeting easier
  • Terminal Illness cover included 

As a minimum, we recommend you work out how much money your family would need to clear any debts and live-mortgage free in the family home.

Some of our customers with dependent children want to provide extra - a lump sum to help with education or holidays, or simply for a rainy day. Other customers like the idea of providing a lump sum to invest for a regular annual income.

Term Life can also be used to provide for business partners. A pay out can make it easier for surviving partners to buy your share of the business or to employ a manager to keep the business running.


Alternatively, a few minutes on the phone can make all the difference. One of our friendly advisers can help work through the best options for you.

Apart from understanding your financial goals, we'lll need to know your age, your smoking status and your basic health status, and whether you have any pre-existing medical conditions. 

These sorts of questions are standard for any life insurance application.  We'll help you through them and advise if there's any additional information we'll need to complete your application.

It's important to tell us everything relevant to your application so that the contract between us is based on accurate information.  That way, you and your family can have confidence your policy will deliver when it's needed most.

We pride ourselves on simple, straightforward products, affordable premiums and personal advice.  Here are some other reasons why you should go with us for your Term Life Insurance:

  • You won't pay agent or broker commissions  because you're buying directly from the underwriter
  • We don't add fees or interest charges if you choose to pay monthly
  • You can increase, decrease or even cancel your cover at any time
  • There's a 30-day 'Free Look' period

And we'll be there when you need us.‚Äč


Term Life Insurance is arranged and underwritten by Southsure Assurance Limited.

This webpage is only a summary of the features and benefits of our Term Life Insurance and is intended to be of a general nature.  It does not constitute personalised financial advice under the Financial Advisers Act 2008.  To the extent that any content constitutes financial advice, it is class advice only and does not take into account any individual's particular financial situation or goals.  We recommend you seek personalised financial advice.  

All Term Life Insurance benefits are subject to the policy terms and conditions, including exclusions that apply, which are set out in the policy document. 

Neither SBS Bank nor any member of the SBS Bank Group guarantees the obligations of (or any products issued by) Southsure.  

'Free Look'

There's a 30-day Free Look period so if you're not happy with your policy for any reason, you can cancel and we'll refund any premium you've paid.