Compare Redundancy Insurance NZ | Compare Income Protection

Worried About Job Loss?

Compare Income
Protection Insurance
with Redundancy

Compare & choose from the personalised income protection policies

Helped over 30,000 Kiwis since 2015
Google Rating
4.9
212 REVIEWS

GET STARTED

Do you currently have redundancy cover?

100% Secure & Free

Protect what matters

Your income matters — even when you're between jobs.

If you're unexpectedly made redundant, your bills don't stop. Redundancy insurance pays a regular monthly amount while you find your next role — protecting your home, family and lifestyle when you need it most.

We'll help you find the right cover.

30,000+
Kiwis helped
4.9
Star rating
100%
Free service

No pressure. Compare at your own pace.

How it works

How It Works

Finding the right redundancy cover doesn't have to be stressful. In just a few simple steps, you'll answer some quick questions to help us understand your employment situation, income and coverage needs — then instantly see the most relevant plans from top NZ providers.

  1. 01

    Quick and Easy Quiz

    Tell us about your job, salary and how long you'd want income support if you were made redundant. It only takes a minute.

    1 min
  2. 02

    See a Side-by-Side Comparison

    Instantly view quotes and benefits from leading NZ redundancy insurance providers, all in one place.

    Instant
  3. 03

    Talk to a Specialist (Optional)

    Want advice or need help choosing? Our friendly advisers can walk you through the best redundancy plan for your situation.

    Your pace

Start comparing today and secure peace of mind for life's unexpected moments.

Why redundancy cover

Why You Need a Redundancy Income Insurance Plan

Redundancy insurance helps you cover essential expenses if you're unexpectedly made redundant. In New Zealand, redundancy benefits usually come as part of an income protection insurance plan, helping give you peace of mind that your bills, mortgage or rent can still be paid even if you lose your job.

For example, if you earn $5,000/month and are made redundant, your cover can pay up to 75% of your income — that's $3,750/month — for a set period. That's money for groceries, school fees and power bills when you need it most.

Please note, this cover applies to involuntary redundancy only — it does not cover resignation or dismissal. Whether you're a full-time or part-time permanent employee, redundancy benefits help make sure you're not left without financial support during tough times.

Family enjoying time together
75%
Of salary replaced
5+
NZ providers compared
$0
Cost to use our service
Why it matters

Do you need redundancy cover?

Most Kiwis can name what they're covered for if their car gets stolen — but freeze when asked what happens if they suddenly lost their job. Companies restructure, roles get disestablished, and your salary stops while your mortgage doesn't.

Redundancy insurance gives you a regular monthly payment (typically up to 75% of your income) while you're between jobs after being made involuntarily redundant. We'll help you find the right plan, with the right wording, at the best price for your situation.

Promises

Backed by a guarantee. Supported by real advisers.

Happy family — price guaranteed

Price Guarantee

We're confident we can get you the best deal on redundancy insurance. If you have an existing policy in place, or a current quote, we'll guarantee a better price. If we can't show you a better way to save, or a cheaper policy, we'll give you a $200 Prezi card. (Subject to terms and conditions.)

Friendly advice team

Advice Centre

Redundancy cover wording can get technical fast — qualifying events, waiting periods, benefit periods, employment-status requirements. If you'd like to chat with a local financial adviser, you can book a free 30-minute consultation via phone or video call.

Protection in action

How Redundancy Insurance Protects You and Your Family

When you're unexpectedly made redundant, your income might stop — but your bills won't. Redundancy insurance acts as a financial safety net, giving you time to recover while helping keep your family's lifestyle intact. Whether it's rent, groceries, school costs or loan repayments, this cover helps ensure your family isn't forced to make drastic sacrifices during tough times.

Real Example: Sarah is a 37-year-old marketing manager from Auckland earning $6,000 a month. When her company restructured, her role was made redundant. Because she had redundancy benefits as part of her income protection plan, she received 75% of her income — that's $4,500/month — for 3 months while she searched for a new job.

This helped her cover:

  • Her mortgage
  • Power and internet bills
  • Childcare costs
  • Weekly groceries

All without touching her savings.

Without this cover, Sarah would have had to rely on emergency funds, borrow money or sell assets just to stay afloat. With redundancy insurance, she had the financial stability and peace of mind to find the right next opportunity — without the stress.

You can't always control job loss. But with the right cover in place, you can control what happens next.

Free, takes 2 minutes — no obligation.

About us

Independent advice. Real people.

Compare Income Protection helps everyday Kiwis find the right redundancy and income protection insurance — quickly, easily and with confidence.

Independent & Transparent — we're not tied to any single insurer. We compare cover side by side so you can see the real differences.

Personalised Matching — our quick quiz tailors the comparison to your job, income and family situation.

Expert Support When You Need It — NZ-based advisers, pressure-free advice.

Fast & Free — no cost, no obligation, no surprises.

Built for Busy Kiwis — most people complete the quiz in under a minute. We've helped over 20,000+ New Zealanders compare redundancy and income protection cover.

Friendly NZ adviser at work

Frequently Asked Questions

Everything you need to know about redundancy insurance in NZ

Redundancy insurance pays you a regular monthly amount (typically up to 75% of your income) for a set period if you're made involuntarily redundant by your employer. It's designed to help cover essential expenses like mortgage, rent, groceries and bills while you find your next role. In NZ, redundancy cover is usually included as part of an income protection insurance plan.
Most insurers will cover up to 75% of your gross income. Look at your fixed monthly costs (mortgage/rent, food, insurances, school fees) — that's your floor. Then think about how many months you'd realistically need to find another role. We'll help you size cover to your actual situation.
No — redundancy cover only pays out on involuntary redundancy (for example, when your role is disestablished or your employer restructures). It does not cover resignation, dismissal for performance or misconduct, or expected end-of-contract terminations. Your employment status at the time you take out the policy also matters — most insurers require permanent full-time or part-time employment.
Yes — most redundancy policies have an initial qualifying period (commonly 3–6 months from when the policy starts) before you're eligible to claim. This stops people from taking out cover only after they've been told their role is at risk. Once past the qualifying period, a separate waiting period (typically 4–8 weeks) applies between the redundancy date and your first payment.
Most redundancy benefits pay for a set benefit period — commonly 3 to 6 months per claim. Some plans pay longer; some pay shorter. Longer benefit periods cost more in premium. Payments stop earlier if you find new work before the period ends. We'll show you the trade-offs side by side so you can pick the right balance for your situation.
The waiting period is how long you wait after your redundancy date before benefits start (typically 4–8 weeks for redundancy cover). The benefit period is how long the insurer keeps paying you (commonly 3 or 6 months per claim). Longer waiting periods and shorter benefit periods reduce your premium.
Generally no — redundancy benefits are only available to permanent employees (full-time or part-time). Self-employed Kiwis, contractors and sole traders aren't eligible for redundancy cover because there's no employer to make their role redundant. If you're self-employed, an income protection policy that covers illness and injury is usually the better fit, and we can help you compare those too.

Ready to safeguard your income against job loss?

It only takes a minute. 100% free, no obligation.