Why Your Pet Might Be More Prepared Than You Are
Published on Wed Jun 18 2025 in Money
We all unquestionably love our pets – But lately, Kiwi pet owners are getting wise about planning for their pets’ future, perhaps even more than their own. With vet bills skyrocketing, more pets are on insurance, while funeral insurance uptake remains low. That contrast is striking.
📈 Pet Insurance is No Longer a Niche
• In 2022, the NZ pet insurance market was valued at NZ$30 million, expected to hit NZ$50 million by 2025.
• Southern Cross Pet Insurance reached over 65,000 policies by early 2025. In May 2022, only ~22% of NZ pet owners had cover—but that’s climbed to ~33% by January 2025.
• Vetlife reports that only 15–20% of NZ pets are insured, which still equates to hundreds of thousands—since ~63% of Kiwi households have pets.
⚖️ Funeral Insurance Uptake in NZ
• Although hard stats are scarce, pet insurance support typically falls in the 15–37% range.
• In contrast, funeral insurance uptake remains very low. For example, only 5% of Kiwis have pre-paid or planned funeral cover.
• The above, in spite of the fact that the average NZ funeral now costs around $10,000—up to $15,000 for more elaborate services.
💡 How Funeral Insurance Offers Peace of Mind
Just as pet insurance gives you control over your dog or cat’s care, funeral insurance helps protect your loved ones from financial strain when you pass away. A simple lump-sum payout can help cover all expenses—coffin, plots, catering, celebrant—allowing families to focus on honouring your life.
✅ Final Word
Protecting our pets isn’t just about financial prudence; it’s a promise to care for them no matter what. With funerals now costing tens of thousands, funeral insurance offers a similar promise—to shield those we love from bill shock during a painful time. If you're ready to talk about a plan that honours your final legacy, we at Momentum Life are here to help.
It's all really quick, and simple – You can sign up for a funeral insurance plan online, or call us on 0800 111 679 and we’ll get you sorted.
Get funeral cover today, to make sure your family is protected during an already difficult time.
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.
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