Purchasing life insurance in New Zealand is not legally mandatory, but it is strongly recommended if you have financial dependents, a shared mortgage, or outstanding debts that would burden your family if you passed away unexpectedly. If you have a partner, young children, or a major residential mortgage, a life insurance payout ensures your dependents can clear debt, maintain their standard of living, and cover living expenses. If you are single with no financial dependents, life insurance is generally unnecessary.
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