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Living Assurance

Living Assurance can give you substantial financial resources in the event that you suffer any one of a number of serious medical conditions, so that you can focus your energies on dealing with your condition and not on dealing with the day to day demands of others.

Special Offer for March

Cash Bonus when you apply for cover online. Details
New World gift card when your policy is issued. Details
Discount for Life Cover + one other benefit. Details

What is Living Assurance?

Living Assurance is a policy which pays a tax-free lump sum benefit if you develop any one of 45+ specified medical conditions. The benefit is normally the full amount of cover provided under the policy, but for some lesser conditions it is part of that amount.

Living Assurance can make up for loss of earnings (including loss of earnings for a partner who stops working to care for you), and clear debt which might otherwise be a drain on your finances. It can also meet often substantial expenses involved in private treatment.

Protect yourself from the effects of serious illness with Sovereign TotalCareMax Living Assurance.

  • Full, tax-free lump sum payment on diagnosis of condition.
  • More than 40 medical conditions covered.
  • 24 x 7 worldwide cover – No Country Exclusions.
  • Cover doesn’t expire at any age.
  • 3-yearly increases in cover available with no medical.
  • Future policy enhancements automatically included.
  • Financial Advice Benefit included.
  • Free interim cover while your application is being processed.

Covered Medical Conditions

Living Assurance provides cover for 47 medical conditions across 5 categories:


1. Carcinoma-in-situ
2. Malignant tumours
3. Prostate cancer


4. Angioplasty
5. Aortic surgery
6. Cardiomyopathy
7. Coronary artery bypass surgery
8. Heart attack
9. Heart valve surgery
10. Out-of-hospital cardiac arrest
11. Pulmonary hypertension

Major Neurological Disease

12. Alzheimer’s disease
13. Benign brain tumour
14. Coma
15. Creutzfeldt-Jakob disease
16. Dementia
17. Encephalitis
18. Idiopathic Parkinson’s disease
19. Major head trauma
20. Meningitis
21. Motor neurone disease
22. Multiple sclerosis
23. Muscular dystrophy
24. Peripheral neuropathy
25. Stroke

Paralysis and Loss of Functionality

26. Diplegia
27. Hemiplegia
28. Loss of independent existence
29. Paraplegia
30. Permanent blindness
31. Permanent loss of hearing
32. Permanent loss of speech
33. Permanent loss of use of limbs
34. Quadriplegia / Tetraplegia

Other Key Conditions

35. Advanced diabetes
36. Aplastic anaemia
37. Chronic liver failure
38. Chronic lung disease
39. Chronic renal failure
40. HIV
41. Intensive care
42. Major burns
43. Major transplant surgery
44. Severe Crohn’s disease
45. Severe osteoporosis
46. Severe rheumatoid arthritis
47. Severe ulcerative colitis

Policy Features

Sovereign TotalCareMax Living Assurance includes all the following great features:

Rock-Solid Backing

The policy is underwritten by Sovereign, New Zealand’s largest life insurer. Sovereign has an A+ (Superior) financial strength rating from A.M. Best Company, the highest rating of any life insurance company in New Zealand.

40+ Conditions Covered

There are more than 40 medical conditions covered in total, ranging from cancer, stroke, heart attack and neurological disease, to coma, paraplegia, advanced diabetes and HIV.

Payment on Any One Condition

Receive a benefit payment if you suffer for the first time any one of a wide range of well-known medical conditions, to the extent which is specified in the policy.

Partial Benefit Payments

Receive a partial benefit payment if you suffer a specified medical condition to a less serious extent than that which would normally trigger a full benefit payment.

Children’s Trauma Benefit

If your child suffers a covered condition, receive a benefit of 50% of the sum assured (up to $20,000). This benefit provides trauma cover for your children at no additional cost. Payment of this benefit will not reduce the amount of any benefit remaining for you.

Newborn Children’s Benefit

If your biological child is born with one of five defined congenital conditions and survives for 30 days after birth, receive a benefit of 50% of the sum assured (up to $20,000). Payment of this benefit will not reduce the amount of any benefit remaining for you.

Special Events Increase Facility

Increase the amount of cover under your policy following certain life events, without any medical questions, examinations or tests. An increase in premium applies. See the Benefit Appendix of the Policy Wording for details and terms.

Future Insurability Benefit

You can increase the amount of cover under your policy at every third policy anniversary date by up to 20% of the original cover (maximum $200,000), without any medical examinations, tests or even questions. An increase in premium applies.

Lump Sum, Tax-Free Benefits

Any and all benefits payable under your trauma insurance policy are paid as tax-free lump sum benefits under current legislation, directly to the policy owner.

24 x 7 Worldwide Cover

Whether you’re at home, or travelling or working anywhere overseas for any period, you remain insured for every medical condition which is specified.

Financial Advice Benefit

After you receive your claim payment, you can spend up to $2,500 including GST on fees for financial advice obtained from an approved and accredited adviser.

Guaranteed Enhancement

If any change is made to the underlying policy in the future, and that change would be favourable to you, then guaranteed enhancement means that the change will automatically be applied to your policy.

Free-Look Period

If at any time during the 15 days following receipt of your policy you don’t wish to continue with your cover (for whatever reason at all), you can return your policy for a full refund of all premiums paid.

Customer Guide

Download or view the customer guide:

Living Assurance Customer Guide PDF

Living Assurance Customer Guide

Want to Know More?

Check out the FAQs for answers to frequently asked questions.

View or download a copy of the policy wording.

(Superior) Financial Strength Rating from A.M. Best Company, Inc. Rating scale

Special Offer

New World Promotion

Apply online today to be eligible for a 25% Cash Bonus, a $100 New World Gift Card (minimum premium required) and 3x Airpoints Dollars™.
25% Cash Bonus details
$100 New World Gift Card details
3x Airpoints Dollars™ details

Plus, get a 10% Discount every year for any policy which includes either Life Cover for two people or Life Cover for one person plus at least one other eligible benefit (minimum cover and premium criteria apply).
Life + One 10% Discount details

Important Information

  • The above identifies and provides a brief summary only of the principal benefits under the policy. Please refer to the policy wording, including the policy appendix and schedule, for full details of all the benefits and the terms and conditions under which they are provided.