Celebrating World Human Rights Day in New Zealand: Protecting Rights for All
Published on Tue Dec 10 2024 in News
On December 10th each year, the world observes World Human Rights Day, a day dedicated to raising awareness and promoting the protection of fundamental rights for all people. This global observance marks the anniversary of the adoption of the Universal Declaration of Human Rights by the United Nations in 1948, a milestone document affirming the rights and freedoms that should be guaranteed to every individual, regardless of nationality, ethnicity, or background.
In New Zealand, Human Rights Day offers a chance to reflect on our progress as a nation and to consider how we can continue to improve the safeguarding of human rights in our society. While New Zealand has long prided itself on its progressive stance on human rights, there are still areas where we can grow. For many of us, life insurance might seem like an area unrelated to human rights, but in fact, it is deeply connected to the concepts of fairness, access, and protection, especially for vulnerable groups.
The Human Rights Foundation of Life Insurance
At its core, life insurance exists to offer financial protection and peace of mind in the face of the unexpected. Whether it's the death of a loved one or an unexpected health crisis, life insurance helps ensure that people are supported during some of life’s most challenging moments.
But human rights are about more than just basic protection; they are about equity, access, and fairness for all. In New Zealand, it’s important that life insurance companies take a stand in ensuring that every citizen, regardless of their background or personal circumstances, has access to the protection they need. This includes offering policies that are inclusive, understanding of diverse needs, and accessible to individuals from all walks of life.
Access to Life Insurance: A Human Right?
For many New Zealanders, access to affordable life insurance is not always guaranteed. While the country is renowned for its universal healthcare system, the reality is that not all people are equally able to access the financial support needed to prepare for life’s uncertainties. Marginalized groups, including those with lower incomes, people with disabilities, and individuals facing mental health challenges, may struggle to afford or qualify for comprehensive life insurance coverage.
As we mark World Human Rights Day, it's an opportunity to think about how businesses, including those in the insurance industry, can help level the playing field. Companies can support inclusivity by:
• Ensuring fair pricing for all people, regardless of their background, health status, or income.
• Providing transparent policies that are easy for everyone to understand.
• Supporting diversity in both the products offered and the customers they serve.
The Role of Life Insurance Companies in Promoting Human Rights
As New Zealanders, we believe in the principles of fairness and equality. Life insurance companies can be part of the solution by offering policies and products that promote inclusivity, such as:
• Flexible underwriting processes that do not discriminate against individuals with pre-existing health conditions or disabilities .
• Support for mental health initiatives by recognising the importance of psychological well-being in the lives of policyholders.
• Community engagement to help educate the public about the importance of life insurance and to ensure that the benefits of coverage are accessible to everyone.
New Zealand’s commitment to human rights should extend to every facet of life—including financial protection. By supporting policies that promote fairness and accessibility, life insurance companies can play a critical role in ensuring that all New Zealanders have access to the protection they need, when they need it most.
Moving Forward: A Call for Action
As we observe World Human Rights Day, let’s consider what steps we can all take to protect the rights of others and ensure that every individual has the opportunity to live a life of dignity, security, and equality. For life insurance providers, this means ensuring that products are inclusive, accessible, and designed to meet the diverse needs of our society.
On this day, let’s reflect on how we can build a future where everyone—regardless of their background or personal challenges—has access to the support and protections they deserve.
Let’s commit to making human rights a reality, not just in principle but in the everyday lives of every New Zealander.
The content provided in this article is for information purposes only. The information is of a general nature and does not constitute financial advice or other professional advice. To the extent that any of the content constitutes financial advice, it is limited to Momentum Life products only and does not consider your specific financial needs or goals. You should consider whether the information is appropriate for you and seek independent professional advice, if required.
All product information is correct at the time this article was published. For current product information, please visit the Momentum Life website.