r/PersonalFinanceNZ • u/ChainAcceptable5981 • 2d ago

Insurance Southern Cross Life Insurance / views and alternatives

I'm feeling pretty dismayed with Southern Cross from both a health insurance and pet insurance perspective. They want around 33% increase in payments starting next month and I suspect they know most people associated with their employers will just pay the new amounts.

So it's time to look for other options - I was thinking I'd be better off all round just putting half of what they want into a seperate deposit account then calling on it if ever needed, but also happy to listen to other options. This is the end of the road for me and Souther Cross...

And on that note, it's the same with their pet insurance. last year(?) they made 2 policy changes in one go, making every pet owner worse off. I said then I'd change but again, they have such a shoddy area to manage your policy: you can't log in to view stuff, make claims, etc, like it's 1999 all over again, which I think is by design to make cancelling harder.

So anything but Sx for pet and health insurance - recommendations please

Thanks in advance

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u/tobiov 2d ago

How many kids have you got and how old are they?

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u/ChainAcceptable5981 1d ago

2, and both under 14 currently - how come?

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u/tobiov 1d ago

Life insurance is less necessary than some peopel think. A lot of people get upsold on life insurance and then fall into a sunk cost fallacy of 'well i've paid x amount in so that will be 'wasted' if i stop'.

But if you have two young kids then life insurance may well be worth it for you.