MARAC Insurance

Lifestyle Protection Insurance

If the unexpected were to happen, how prepared would you be to cover your financial commitments or expenses?

MARAC insurance offers you the opportunity to protect your lifestyle in the event of sudden or unexpected events, including death, accidental death, terminal illness, accident, disablement, redundancy, business interruption, bankruptcy, suspension and hospitalisation.

Because we understand that everyone’s situation is different, we’ve made our cover flexible, so you can choose the level of cover that works best for you. If you have dependents, you can also include family members in your policy.

Step 1

Select the level of cover that best suits your situation. There are three levels of Lifestyle Protection cover available to you:

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Benefit Level** Basic Cover Standard Cover Full Cover
Life (Death)      
Accidental Death      
Terminal Illness      
Accidents      
Disability      
Redundancy      
Business interruption      
Bankruptcy      
Suspension      
Hospitalisation      

** The policy does not provide cover for any event that is as a consequence or in any way attributable to any medical condition which was diagnosed or in respect of which the symptoms were known prior to the inception date of this policy.

Step 2

Select the term of your policy - this is how long you want your policy to run for. You can choose anywhere from 1 year (12 Months) to 5 Years (60 Months).

Step 3

Select an amount for your monthly benefit. This is what you’ll be paid in order to cover your financial commitments and expenses. You can select an amount anywhere between $100 to $5,000* per month.

Freedom and flexibility to suit you with MARAC

  • Protection on your terms
    Only pay for the cover you need to cover YOUR lifestyle
  • Confidence and peace of mind
    Cover from day 1 of the policy
  • Avoid financial surprises
    No excess payable at claim time

*Maximum benefits apply - Please refer to the policy terms, conditions and exclusions for exact limits and policy wording.

Useful Documents:

Lifestyle Protection Insurance brochure

Lifestyle Protection Insurance policy terms, conditions and exclusions

Lifestyle Protection Insurance cancellation form

Lifestyle Protection Insurance claim form

Other products you might be interested in:

Motor Vehicle Insurance
Mechanical Breakdown Insurance
Guaranteed Asset Protection Insurance

Get covered

Arranging insurance is easy.

You’re welcome to give us a call on 0800 85 30 30 and talk to the new loan team to have a chat about the best insurance options for you.

Insurance is also available through a MARAC insurance-authorised motor vehicle dealer who can organise insurance on-the-spot for you at their dealership.

Need to submit a claim or cancellation form?

Please email it to our friendly team at get in touch via email. Alternatively you can fax it through to us at +64 9 927 9318

Still have a few questions?

Check out our FAQ's. If your question isn’t there, get in touch via email or call us on 0800 45 10 10.

Common Questions

MARAC Insurance is part of Heartland Bank Limited (Heartland Bank), a New Zealand operated and managed bank. Finance and lending services are provided by MARAC, a division of Heartland Bank. We’ve been helping New Zealanders and New Zealand businesses for more than 55 years, offering finance and insurance solutions.
A pre-existing condition is any illness, injury or condition that is as a consequence or, in any way attributable to, any medical condition which was diagnosed or in respect of which the symptoms were known prior to the inception (start) date of this policy. It’s important to declare these as part of your application.
Full-time employment means that you are working in a permanent and continuous role for a minimum of 30 hours every week. It does not include seasonal, casual or temporary employment, or work under a non-renewable contract.
Yes, your policy will pay over and above any other income or payments you receive.
Yes – there are no occupational restrictions. However, some dangerous recreational activities such as motor vehicle racing and scuba diving are not covered. Please refer to the policy terms, conditions and exclusions document for full details.
Yes. You can cancel your policy at any time. We will provide you with a full refund within the first 30 days from the date that you signed the Application for Insurance and a pro rata refund after that date. Any refund on your policy will only be considered if no claims have been made under your policy. To cancel your policy, you’ll need to notify us in writing.
As soon as you need to make a claim, call us on 0800 45 10 10 and we will get your claim underway immediately.
We will pay you the monthly nominated benefit that you selected when taking out the policy.
Please disclose any and all medical conditions, even if you are unsure. If you fail to disclose any conditions, you risk having any future claims declined as this policy does not provide cover for Pre-Existing medical conditions. Please refer to the policy terms, conditions and exclusions document for full details.
No, there is no excess required on lifestyle protection insurance with MARAC Insurance.
No problem. Your cover is completely transferable between jobs; however, it’s important to note that if you need to make a claim for unemployment you must have been in continuous work for six months with that employer before the claim. If you have further questions or concerns about this, feel free to contact us to discuss your individual circumstances.
The start date on your policy document will indicate the first day of your cover. You’ll also receive a letter confirming the start and end dates, as well as your monthly benefit amount. Check these carefully, and if you have any questions or concerns, get in touch with us.
MARAC Lifestyle Protection Insurance policies run for a maximum of five years from your policy’s start date.
Yes, however these depend on the type of claim you are making. Read more in our terms, conditions and exclusions for full details about what this means.
MARAC Insurance is part of Heartland Bank Limited (Heartland Bank), a New Zealand operated and managed bank. Finance and lending services are provided by MARAC, a division of Heartland Bank. We’ve been helping New Zealanders and New Zealand businesses for more than 55 years, offering finance and insurance solutions.
Mechanical Breakdown Insurance is provided by MARAC Insurance Ltd and underwritten by DPL Insurance Ltd. You can find out more about their rating and solvency here.
Vehicles that have been modified in any way from the manufacturer’s standard specification will only be covered under your policy if you have disclosed the modifications to us in detail and we have agreed to insure the vehicle. An additional premium may be payable. More details can be found in the policy terms and conditions.
Yes, some vehicles may be excluded from this policy. Please check the policy terms and conditions to see if your vehicle falls into an excluded category.
You may cancel this policy at any time. Any refund on your policy will only be considered if your request is made within 30 days of the policy’s inception date and no claims have been made under your policy.
At our discretion we may permit transfer of this policy to the new owner if you sell the vehicle. A transfer is not available if a claim has been made under the policy.
Our policy allows for any registered automotive repairer to service your vehicle. If you are unsure whether your service agent meets our criteria then give us a call on 0800 267 873 and we’ll be happy confirm.
Yes. We require that the vehicle is serviced to the manufacturer’s service specifications. If for any reason these are not specified, we require the following servicing:
  • Petrol vehicles – every 12 months or every 15,000 km (whichever comes first).
  • Diesel vehicles - every 12 months or every 10,000 km (whichever comes first).
As soon as you need to make a claim, call us on 0800 809 100 (select option 1) and we will get your claim underway immediately.
This is the amount that you need to contribute towards each claim that you make on your policy. The cost of this depends on which option you selected with you first purchased your policy.
The amount you can expect to pay will depend on what excess you chose at the time you purchased your policy. You may have a $125, $225, $250 or $350 excess.
The warranty may be transferred to a new owner at MARAC Insurance’s discretion (subject to service and claims history). In this case a transfer fee of $75 (incl GST) is charged. The warranty cannot be transferred if the vehicle is sold to a motor vehicle trader. The warranty cannot be transferred to another vehicle.

Three payment options are available:

Directly to Insurer - You can pay by bank transfer

Monthly - Direct debit payments through Monument

Credit Card payments - You can pay the full premium amount by credit card using Visa and MasterCard

Heartland Motor Vehicle Insurance Motor Vehicle Insurance is arranged by Monument Insurance (NZ) Limited (a related company of the Crombie Lockwood Group), and underwritten by IAG New Zealand Ltd. For Rating and Solvency information for IAG New Zealand Ltd click here.
If you find the cover you have chosen is not what you want, you may change your mind and cancel the policy if you notify us within 30 days from the start date of the policy. We will refund any premiums paid in full and cancel the policy provided there have been no claims. Call our friendly team on freephone 0800 45 10 10
Please call us on 0800 047 757 to discuss any changes you would like to make.
Please call us on 0800 047 757 to discuss your claim and we will provide any immediate assistance that you need, under the policy, and send you a claim form.
MARAC Insurance is part of Heartland Bank Limited (Heartland Bank), a New Zealand operated and managed bank. Finance and lending services are provided by MARAC, a division of Heartland Bank. We’ve been helping New Zealanders and New Zealand businesses for more than 55 years, offering finance and insurance solutions.
Our policy also pays an additional cash sum of up to $1000, whether or not there is a shortfall.
The policy will pay the difference between the finance contract settlement amount and the payment made by your comprehensive motor vehicle insurer up to the limit stated on your policy schedule.
We will provide you with a full refund within the first 30 days from the date that you signed the proposal and a pro rata refund after that date. Any refund on your policy will only be considered if no claims have been made under your policy. To cancel your policy, you’ll need to notify us in writing.
If you need to make a claim you can download and return the claim form to us or you can call MARAC Insurance on 0800 45 10 10 we will send you a claim form.
A GAP policy pays the shortfall between the payout received from the motor vehicle insurer (in the event of a total write-off) and the amount of finance owing on the vehicle to a maximum of $10,000. Our policy also pays an additional cash sum of $1000, whether or not there is a shortfall.
Without a motor vehicle insurance policy, there cannot be any shortfall from the motor insurer. GAP insurance is designed to cover the shortfall between what your motor vehicle insurer pays you, and the remainder of the finance owed by you on the vehicle.
Comprehensive Motor Vehicle Insurance is a policy of insurance which provides cover for loss of or damage to your vehicle, and also any damages you may cause to someone else's car or property.
There is no excess payable under the Guaranteed Asset Protection (GAP) insurance policy.
Your policy can only be cancelled (with a full refund) within the first 14 days from the date that you signed the proposal.
No – this policy is not transferable. Please refer to the policy terms, conditions and exclusions document for full details.

Lifestyle Protection Insurance is provided and underwritten by MARAC Insurance Ltd.
For Rating and Solvency information click here.