Life moves fast - make sure you have the right cover
Your 40s are a balancing act. You might be deep into your career, juggling family life, and managing financial responsibilities. With so much going on, it’s easy for life insurance to fall off the radar. But now’s a smart time to think about what you’re protecting. Life doesn’t always go to plan and asking “what if?” can help you prepare for the unexpected.
Planning ahead in your 40s can make a real difference. We understand affordability matters, and we’re here to help you find the right balance between cost and coverage. As your life evolves, your insurance can too - so you can keep pace with your goals and protect what matters most.
The insurance cover you have now may have suited your needs when you took it out, but does it still reflect your needs today?
To review and make changes to your cover, please speak to your financial adviser or contact our Customer Solutions team on 0800 808 267.
You can view your current level of cover and your premium details in My Resolution Life.
Protect what you’ve built
Protect loved ones
Provide peace of mind or support to your partner and family
Cover remaining debts
Help with mortgage, school fees or credit card payments
Protect your lifestyle
Maintain your quality of life if your income is impacted
Cost-conscious? Here are some ways to keep it affordable.
Looking for ways to manage premium costs? There are flexible options that can help you stay covered while reducing your premiums. Learn more here.
Consider adjusting your cover
As life changes, you can adjust your cover. You may need more or less cover as before or may consider changing your cover type. There are options to reduce your cover to lower your premiums, while keeping protection in place.
Speak to your financial adviser or contact our Customer Solutions team on 0800 808 267. View your current level of cover and your premium details in My Resolution Life.
Increase the waiting period (income protection)
A ‘waiting period’ is the period of time between becoming disabled or ill, and when an income protection benefit starts being paid.
You may have accumulated extra sick or holiday leave that can provide an income buffer if you are unable to work due to sickness or injury. By increasing your ‘waiting period’ for example from 30 days to 60 or 90 days (longer waiting periods are available) you may reduce your premium.
Before making any decisions regarding your cover, we recommend that you seek appropriate advice from your financial adviser. If you have any questions or require further information, please contact our Customer Solutions team on 0800 808 267 to review your policy.
Income protection – Reduce benefit period
A benefit period is the length of time your income protection, or benefit is paid for, after a successful claim as long as you are disabled or ill, and unable to work.
As you get older or your financial situation changes you may not require the same benefit period you chose when you took out your policy. Reducing your ‘benefit period’ may make a reduction to your premium. For example:
- Moving from a Lifetime benefit to an aged 65 benefit
- Reducing your period from an aged 65 benefit to being paid a benefit for 5 years.
Before making any decisions regarding your cover, we recommend that you seek appropriate advice from your financial adviser. If you have any questions or require further information, please contact our Customer Solutions team on 0800 808 267 to review your policy.
Opt-out of inflation adjustments
Your cover may include an automatic annual increase to keep up with the rising cost of living (unless you choose to ‘opt out’ of the adjustment). This is called ‘indexation’ – an increase to your sum insured by either a fixed percentage or the increase to the consumer price index (CPI) (depending upon the terms of your policy). We’ll generally apply the higher of these, which means you’ll get more cover but also increase the cost. Learn more about inflation adjustments here.
You can opt out of this increase for a year or permanently, with the change taking effect from the next policy anniversary. Noting, if you decide to add the automatic inflation adjustment back after it has been removed, you may require underwriting.
Please refer to your Policy Document and Policy Schedule for the full terms and conditions that apply to your cover.
Common misconceptions (and what’s actually true)
Myth: I’m spending money on something I might never use.
Fact: Life insurance isn’t just about the worst-case scenario – it’s about peace of mind. It’s a financial backup plan that ensures your family won’t face hardship if the unexpected happens.
Myth: It’s not worth the cost and I’m better off spending my money elsewhere.
Fact: You can often adjust your cover to make premium payments more affordable, while still staying protected.
Myth: I don’t need life insurance in my 40s if I’m healthy.
Fact: Many claims happen in your 40s – it's a key time to stay protected. At Resolution Life, 22% of income protection claims and 22% of trauma insurance claims are made by customer in their 40s1.
Understand what you may be giving up before cancelling
Cancelling your cover now may mean:
- Losing cover that may leave your loved ones without a financial safety net.
- If you seek cover at a later stage, you may need to complete underwriting, including medical tests. This may result in facing exclusions or higher premiums (loadings) if your health has changed since you first applied.
- Maybe being ineligible for new cover, if your health circumstances change or you are above entry age for the cover.
You’ve maintained your cover for a reason – ensure it still meets your needs.
12024 Resolution Life Australasia claims statistics.
The information in this video is factual information only, it does not contain any financial product advice or make any recommendations about a financial product or service being right for you. Any advice is provided by Resolution Life is general advice and does not take into account your objectives, financial situation or needs. Before taking any action, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs, as well as the product disclosure statement (if available) and policy document for the product. Any guarantee offered in the product is only provided by Resolution Life. Any Target Market Determinations (if available) for our products are available on our website. Resolution Life does not make any representation or warranty as to the accuracy, reliability or completeness of material on this website nor accepts any liability or responsibility for any acts or decisions based on such information. Resolution Life can be contacted in Australia via resolutionlife.com.au/contact-us or by calling 133 731 or in New Zealand via resolutionlife.co.nz/contact-us or by calling 0800 808 267
Important information
The content of this website is for information only, it does not contain any financial advice or other professional advice or make any recommendations about a financial product or service being right for you. The information provided by Resolution Life Australasia Limited ABN 84 079 300 379, NZ Company No. 281363, AFSL No. 233671 (Resolution Life), is of a general nature and does not take into account your objectives, financial situation or needs. Before taking any action, you should always seek financial advice or other professional advice relevant to your objectives, financial situation and needs, as well as consider the policy document for the product. Any guarantee offered in the product is only provided by Resolution Life.
Resolution Life does not make any representation or warranty as to the accuracy, reliability or completeness of material on this website nor accepts any liability or responsibility for any acts or decisions based on such information.
Resolution Life can be contacted at resolutionlife.co.nz/contact-us or by calling 0800 808 267.
