Accidental death cover
Exclusive to Booster KiwiSaver members, we offer free accidental death cover up to $50,000.
You’ll automatically be covered up to $10,000 in your first year of membership in the Booster KiwiSaver Scheme*.
After 3 years’ membership, the amount of cover you’re entitled to will increase in stages, up to the maximum of $50,000 – based on how long you’ve been a member of Booster and your KiwiSaver account balance.
If you die accidentally, your family and other beneficiaries of your estate will receive the free accidental death cover.
Accidental death cover is exclusive to Booster. No other KiwiSaver scheme provider offers this free member benefit
To be eligible for the free accidental death cover, you must:
be a member of the Booster KiwiSaver Scheme
be under the age of eligibility for New Zealand Superannuation, currently 65 years of age
normally pay the standard member fee – or be someone who has that fee waived because you’ve got less than $500 in your account.
If you meet all these conditions, you are an ‘insured member’.
This means that your family and other beneficiaries of your estate will receive the free accidental death cover if you die accidentally.
*The most that your free accidental death cover pays to your estate is $50,000, but the amount depends on:
whether you are 18 years or over, or are a contributing member
the number of consecutive years you’ve been a contributing member
how much you’ve got in your Booster KiwiSaver Scheme account.
There are also some other conditions.
A ‘contributing member’ is someone who has paid in at least $1,000 to their account over a 12-month period.
These contributions can be made by:
you as part of your regular employee contribution
you as voluntary contributions.