New Zealand grown. Member owned.
We're proud to be a New Zealand-owned insurance and investment company that’s been enhancing the financial health and wellbeing of our Members since 1921. We offer a range of insurance and investment options to help grow our Members’ wealth and protect what’s important to them.
We’re a Mutual, owned by our Members, so we have their best interests at heart and not a single dollar goes to offshore shareholders. We’re committed to forming life-long relationships with our Members by caring for them with exceptional service, premium products and expert advice.
And, as you’d expect from a company founded by doctors, we’re community driven. In 2019 we established MAS Foundation, a philanthropic organisation that funds community-led projects to improve health and wellbeing equity in Aotearoa New Zealand. Being a MAS Member means you not only receive outstanding products and service, but your contributions make a real difference to support the health and wellbeing of our communities.
Benefits included with our insurance
- Life Insurance
- Income Security Insurance
- Recovery Insurance
- Total & Permanent Disablement Insurance
Life Insurance
We will pay the life insurance sum insured if the insured person dies.
If you are diagnosed as terminally ill with less than 12 months to live, a maximum of $1,000,000 of your life insurance can be paid early.
You can increase your life cover following major life events such as marriage, having a child or getting a mortgage, irrespective of your state of health.
Our Life Insurance cover can pay up to $15,000 immediately, in advance of the sum insured, upon written notification of death.
You have the option to increase your life insurance sum every three years without the need for further medical evidence.
You have the option to increase your sum insured every 12 months for inflation regardless of any change in health or activities of the insured person.
Income Security Insurance
If you suffer a relapse of the same condition within six months of returning to work and go back on claim, we'll waive your waiting period.
We will pay up to 75% of their pre-disability earnings if the insured person takes unpaid leave to support the care of their child.
You can automatically extend your cover to age 70.
To help you return to work, we may provide assistance with rehabilitation and retraining costs.
We can pay a claim while you are anywhere in the world, provided you continue to meet our claim requirements.
If you die while receiving a weekly benefit from your Income Security plan, we will pay a $15,000 lump sum towards your funeral costs.
Recovery Insurance
We can pay a portion of your sum insured if you suffer an early diagnosis of certain medical conditions.
You can increase your recovery cover following major life events such as marriage, having a child or getting a mortgage, irrespective of your state of health.
If the insured person suffers a serious medical condition, is diagnosed as terminally ill, or dies, we will pay up to $3,000 towards grief counselling.
If a child of an insured person passes away, we will pay a benefit of $15k for children aged between 10 and 21 and $2,000 for children under age 10.
Children of the insured person aged three months to 21 years are now covered for up to $100,000. This cover is provided at no additional cost.
A child of the insured person can take a new recovery insurance cover at age 21 without underwriting, to a maximum of $100,000.
Total & Permanent Disablement Insurance
You can increase your TPD cover following major life events such as marriage, divorce, having a child, death of your spouse, or getting a mortgage - irrespective of your state of health.
Provides a payment up to $15,000 of the TPD sum insured upon death or terminal illness if you do not have a life insurance policy in place, and are not otherwise entitled to claim under your TPD cover.
If the insured person suffers a serious medical condition, is diagnosed as terminally ill, or dies, we will pay up to $3,000 towards grief counselling for the insured person or their close relative.
Provides a payment of 25% of the sum insured up to $30,000 if the insured person suffers the loss of a single limb or eye.
If a child of an insured person passes away, we will pay a benefit of $15k for children aged between 10 and 21 and $2,000 for children under age 10.
If the insured person suffers a specified serous medical condition we can pay the Total and Permanent Disablement benefit straight away.
Benefits included with our insurance
Life Insurance
We will pay the life insurance sum insured if the insured person dies.
If you are diagnosed as terminally ill with less than 12 months to live, a maximum of $1,000,000 of your life insurance can be paid early.
You can increase your life cover following major life events such as marriage, having a child or getting a mortgage, irrespective of your state of health.
Our Life Insurance cover can pay up to $15,000 immediately, in advance of the sum insured, upon written notification of death.
You have the option to increase your life insurance sum every three years without the need for further medical evidence.
You have the option to increase your sum insured every 12 months for inflation regardless of any change in health or activities of the insured person.
Income Security Insurance
If you suffer a relapse of the same condition within six months of returning to work and go back on claim, we'll waive your waiting period.
We will pay up to 75% of their pre-disability earnings if the insured person takes unpaid leave to support the care of their child.
You can automatically extend your cover to age 70.
To help you return to work, we may provide assistance with rehabilitation and retraining costs.
We can pay a claim while you are anywhere in the world, provided you continue to meet our claim requirements.
If you die while receiving a weekly benefit from your Income Security plan, we will pay a $15,000 lump sum towards your funeral costs.
Recovery Insurance
We can pay a portion of your sum insured if you suffer an early diagnosis of certain medical conditions.
You can increase your recovery cover following major life events such as marriage, having a child or getting a mortgage, irrespective of your state of health.
If the insured person suffers a serious medical condition, is diagnosed as terminally ill, or dies, we will pay up to $3,000 towards grief counselling.
If a child of an insured person passes away, we will pay a benefit of $15k for children aged between 10 and 21 and $2,000 for children under age 10.
Children of the insured person aged three months to 21 years are now covered for up to $100,000. This cover is provided at no additional cost.
A child of the insured person can take a new recovery insurance cover at age 21 without underwriting, to a maximum of $100,000.
Total & Permanent Disablement Insurance
You can increase your TPD cover following major life events such as marriage, divorce, having a child, death of your spouse, or getting a mortgage - irrespective of your state of health.
Provides a payment up to $15,000 of the TPD sum insured upon death or terminal illness if you do not have a life insurance policy in place, and are not otherwise entitled to claim under your TPD cover.
If the insured person suffers a serious medical condition, is diagnosed as terminally ill, or dies, we will pay up to $3,000 towards grief counselling for the insured person or their close relative.
Provides a payment of 25% of the sum insured up to $30,000 if the insured person suffers the loss of a single limb or eye.
If a child of an insured person passes away, we will pay a benefit of $15k for children aged between 10 and 21 and $2,000 for children under age 10.
If the insured person suffers a specified serous medical condition we can pay the Total and Permanent Disablement benefit straight away.
Please note that certain conditions and exclusions apply to benefits described on this webpage. These conditions of cover and exclusions can be found in our policy wording. If you would like to receive a printed copy of the policy wording please contact us on 0800 800 627 or email us at info@mas.co.nz. Financial Strength Ratings and Solvency
This webpage is intended as an information guide only and does not form part of the policy document or any contract with MAS. This webpage does not take into account your own personal financial situation or goals. If you would like more detailed financial advice we can get one of our MAS Advisers to contact you. Normal underwriting criteria apply for all insurance products. Special conditions and/or excesses may apply to the situations that meets your specific needs.