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Convenience comes at a cost: typical non-underwritten cover, and the exceptions

The most common types of non-underwritten life cover are typically more than double the cost of fully underwritten cover, and come with extensive exclusions. Price indications are available for research subscribers on Quotemonster, but a review we did for clients age 30 buying $200,000 of live cover, showed that non-underwritten cover was typically more than double. On small sums bought fr short periods, that makes little difference: but over any reasonable sum insured, for any reasonable period of time, that's a high price to pay. There are exceptions: AMPs KiwiSaver Essentials is one, and the Partners Life FastApp is another. AMP's cover is slightly pricier than normal, but avoids pre-existing conditions exclusions. Partners Life's FastApp is the same price as normal cover, but does have reasonably extensive exclusions.

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