It’s a question we hear often from young parents—especially those with a new baby in their arms, like little Gio:
“If something happens to me, will my child be protected?”
The answer, like many things in life insurance, is nuanced: yes and no.
In NZ with most policies you can not name your baby as a beneficiary, the reality is that a baby—or any young child—cannot directly receive the proceeds from a life insurance policy. That’s because they cannot legally own a policy or manage the funds. Typically, the surviving policy owner or a nominated trustee becomes the beneficiary.
Most insurers require a person to be at least 16 or 18 years old (depending on the provider) before they can be named as a policy owner.
The most important step you can take? Set up a will.
A will allows you to name guardians, allocate funds, and ensure that any life insurance payout is managed appropriately for your children’s future. Without one, the process becomes longer, more complicated, and potentially less aligned with your wishes.
So if you’ve recently welcomed a child, or if you’re reviewing your family’s financial safety net, this is the time to put proper structures in place. A well-crafted will, alongside your life insurance, gives you peace of mind—knowing your children will be protected, even if you’re no longer around.
