Lifestyle Protection Insurance
If you can't work, your bills don't stop. LPI covers your vehicle loan repayments during redundancy, illness, injury, or death — so your finance stays on track when life doesn't.
What is Lifestyle Protection Insurance?
Lifestyle Protection Insurance (LPI) is not life insurance. It's a vehicle finance product specifically designed to cover your loan repayments if you're unable to work. It protects you against the three biggest income risks:
Redundancy
You lose your job through no fault of your own
Illness or Injury
You can't work due to sickness or accident
Death
Your loan balance is cleared for your family
LPI is provided through our partners Janssens Insurance and Autosure — established New Zealand providers specialising in vehicle finance protection. Unlike general income protection or life insurance, LPI is tailored specifically to your vehicle loan and costs a fraction of broader cover.
“ACC covers accidents. Life insurance covers death. LPI covers everything in between — and it's designed specifically for your car loan.”
See Your Risk Exposure
Enter your monthly loan repayment and choose how many months of cover you need. See exactly what's at stake — and what it costs to protect.
$100 - $5,000 per month
Without LPI, 12 months off work means $6,000 in missed loan payments — plus potential default fees, credit damage, and vehicle repossession.
$17/day in missed payments
One-off premium — can be included in your finance
12 months x $500
Indicative — contact us for exact quote
Every $1 of premium protects $20 of risk
LPI vs ACC vs Life Insurance
Many people assume ACC or life insurance will cover them. Here's what each actually provides — and where the gaps are.
| Feature | ACC | Life Insurance | LPI |
|---|---|---|---|
| Covers redundancy / job loss | |||
| Covers temporary illness | |||
| Covers injury | |||
| Covers death / terminal illness | |||
| Day-one cover (no stand-down) | |||
| No excess on claims | N/A | ||
| Covers loan repayments directly | |||
| Monthly benefit up to $5,000 | 80% income | Lump sum | |
| Coverage up to 60 months | Varies | Term-based | |
| Funeral benefit | Some policies | ||
| Ambulance & medical benefits | |||
| Affordable one-off premium | Levy-funded | Monthly premiums |
ACC
Accident injuries only. No illness, no redundancy. 80% income after stand-down.
Life Insurance
Death and terminal illness. No redundancy or temporary disability. Expensive monthly premiums.
LPI
Redundancy + illness + injury + death. Day-one cover. No excess. Covers your actual loan repayments.
Key Features of LPI
Janssens LPI is designed to provide comprehensive cover with minimal hassle.
Day One Cover
Protection starts immediately from the date your policy is issued. No stand-down period, no waiting.
No Excess
Make a claim without paying an excess. The full benefit amount is paid to you or your finance company.
Monthly Benefit $100-$5,000
Choose a benefit level that matches your actual loan repayment. Tailored to your situation.
Up to 60 Months Coverage
Match your LPI term to your loan term. Protection for as long as you need it.
Death & Terminal Illness
Lump sum payment to clear the outstanding loan balance, removing the burden from your family.
Funeral Benefit
Includes a funeral benefit to ease the financial burden on your family during a difficult time.
Ambulance & Medical
Additional ambulance and medical benefits included, covering costs ACC and health insurance may not.
Redundancy Cover
If you lose your job through no fault of your own, LPI covers your loan repayments while you get back on your feet.
Who Should Consider LPI
LPI is particularly valuable if any of these situations apply to you.
Sole Income Earner
If your household depends on one income, a single disruption could mean missed loan payments and financial stress for the whole family.
Self-Employed
No employer sick leave, no redundancy package. If you can't work, your income stops immediately. LPI bridges the gap.
New to New Zealand
New immigrants often lack the family safety net and savings buffer that locals might have. LPI provides a financial backstop from day one.
Large Loan Balance
The higher your loan, the bigger the risk. On a $30,000 loan, six months off work means $18,000+ in missed payments.
Single Parent
With dependents relying on you, the consequences of lost income are amplified. LPI protects your family's stability.
No Income Protection
If you don't have separate income protection insurance, LPI is the most cost-effective way to cover your vehicle finance specifically.
Frequently Asked Questions
Protect Your Repayments
Add Lifestyle Protection Insurance to your next vehicle finance — or ask us about adding it to an existing loan. One conversation could save you thousands.