Around half of New Zealanders don’t have life insurance coverage or a will.
1500 people pass away each year without life insurance coverage, and without a will to give direction. That’s a lot of people who could pass without having their final wishes carried out.
Katrina Shanks, chief executive of Financial Advice New Zealand, said Kiwis had little financial resilience when things go wrong.
“Debt levels are high; the cost of living is high; savings are low and so are the number of Kiwis covered by life insurance, or with a plan in place for their financial future.”
Shanks said too few Kiwis sought financial advice which could help them keep afloat when life events hit.