How much does TPD insurance cost in New Zealand? The QuoteHub Premium Index, September 2026
Financial advice is provided by Craig Smith Business Services Limited, trading as Smiths Insurance & KiwiSaver, a licensed Financial Advice Provider (FSP712931). QuoteHub is a trading name.
TPD insurance for $250,000 of any-occupation cover, priced across four insurers by the QuoteHub Premium Index, ran from about $15 to $20 a month for a 25-year-old non-smoking man up to about $275 to $300 a month at 60, and no insurer in this snapshot priced TPD past age 60. These are indicative monthly costs from insurers' published rate cards as at 8 September 2026; see AIA's TPD product page for one insurer's own published rates. See our TPD insurance guide for how the cover works, and the full methodology for how this snapshot was built.
TPD (total and permanent disability) cover pays a single lump sum if illness or injury leaves you permanently unable to work, and the "any occupation" definition priced on this page is the stricter, cheaper of the two common tests: it pays only once you cannot do any job you are reasonably suited to by training or experience, not just your own job. Every figure below is the QuoteHub Premium Index for September 2026, an indicative monthly premium sourced from insurers' published rate cards and collected through adviser rating software on the QuoteHub adviser account, as at 8 September 2026. It is a snapshot of published rate tables, not a quote, and your own premium depends on underwriting.
What $250,000 of TPD cover costs by age
TPD premiums rise more steeply than trauma or life cover once they start moving, and the table below is a non-smoker, $250,000 sum insured, any-occupation, priced across four insurers for occupation class 1.
As of 8 September 2026 · monthly cost, from the insurers’ rate cards
| Age | Typical monthly cost |
|---|---|
| 25 | about $20 |
| 30 | about $20 |
| 35 | about $15 |
| 40 | $20 to $25 |
| 45 | $25 to $40 |
| 50 | $50 to $80 |
| 55 | $120 to $160 |
| 60 | $275 to $375 |
| Age | Typical monthly cost |
|---|---|
| 25 | about $15 |
| 30 | about $15 |
| 35 | about $20 |
| 40 | $20 to $30 |
| 45 | $30 to $50 |
| 50 | $60 to $100 |
| 55 | $140 to $180 |
| 60 | $250 to $400 |
The cheapest priced premium for a 25-year-old non-smoking man started at about $15 to $20 a month; by 45 it had risen to about $25 to $30 a month, and by 60, the oldest age priced this cycle, it reached about $275 to $300 a month. That is roughly a 15-times increase in the cheapest priced premium from 25 to 60; see Asteron Life's TPD product page for one insurer's own published rates. Momentum Life and Partners Life did not price a TPD quote at any age this cycle.
How much does TPD insurance cost at 45?
At 45, non-smoking $250,000 any-occupation TPD cover ran from about $25 to $30 a month up to about $35 to $40 a month for a man, and from about $30 to $35 up to about $45 to $50 for a woman, per the QuoteHub Premium Index for September 2026; see Fidelity Life's TPD product page for one insurer's own published rates. The jump from age 40 is sharp: the cheapest priced male premium rose roughly 30% between 40 and 45, and a further 113% between 45 and 50.
How much does TPD insurance cost at 55?
At 55, the cheapest priced non-smoking $250,000 TPD cover was about $120 to $130 a month for a man and about $140 to $150 a month for a woman, per the QuoteHub Premium Index for September 2026; see AIA's TPD product page for one insurer's own published rates. Unlike the mid-40s, the sexes are close together at this age: the female figure is roughly 11% above the male figure, a smaller gap than trauma cover shows at the same age.
Why this snapshot stops at age 60
No insurer in the QuoteHub Premium Index panel returned a TPD quote for a 65-year-old in this snapshot, at any sex or smoking status. That is different from a blank cell inside a priced age band: it is a complete gap at the oldest age this index otherwise prices for life and trauma cover, and it is stated here rather than guessed at. TPD entry and cover-to ages differ by insurer and policy (Fidelity Life's own TPD cover, for instance, is available for entry from 16 to 64, per its published product page below), so the absence of a 65-year-old row in this snapshot is a statement about what the rating software returned this cycle, not a claim that no insurer offers TPD cover to a 65-year-old.
Why did some insurers not price TPD at every age or in the smoker category?
Across the 32 profiles priced, AIA returned all 32, Chubb Life 26, Fidelity Life 24 and Asteron Life 18; the remaining cells print "not priced" rather than a guessed figure, and Momentum Life and Partners Life returned none. A blank cell in the tables on this page means that insurer did not return a rate for that exact age, sex and smoking-status combination in this snapshot, not that the insurer has no TPD product; see the methodology page for the full fill count by insurer and product.
What smokers pay for the same $250,000 of cover
A smoker's TPD premium overtakes a non-smoker's gradually rather than at a fixed multiple, and the gap widens through the 40s and 50s before narrowing again at 60.
As of 8 September 2026 · monthly cost, from the insurers’ rate cards
| Age | Typical monthly cost |
|---|---|
| 25 | $15 to $25 |
| 30 | $15 to $25 |
| 35 | $20 to $30 |
| 40 | $25 to $40 |
| 45 | $45 to $80 |
| 50 | $100 to $150 |
| 55 | $200 to $325 |
| 60 | $400 to $725 |
| Age | Typical monthly cost |
|---|---|
| 25 | $20 to $30 |
| 30 | $20 to $30 |
| 35 | $20 to $30 |
| 40 | $25 to $50 |
| 45 | $50 to $80 |
| 50 | $110 to $160 |
| 55 | $200 to $400 |
| 60 | $350 to $800 |
At 25 the cheapest priced smoker premium for a man was about $15 to $20 a month, close to the about $15 to $20 non-smoker premium, because the cheapest-priced insurer differs between the two rows at that age. By 45 the cheapest priced smoker premium was about $45 to $50 against about $25 to $30 for a non-smoker, a multiple of roughly 1.8 times, holding at about 1.8 times at 50 before easing to about 1.5 times at 60; see Chubb's Complete Disablement Cover page for one insurer's own published rates.
How much more does a smoker pay for TPD insurance?
A smoker paid roughly 1.0 to 1.8 times the cheapest non-smoker price for the same $250,000 of TPD cover in this snapshot, with the multiple lowest at 25 and highest in the mid-to-late 40s, per the QuoteHub Premium Index for September 2026. That pattern is different from trauma cover, where the smoker multiple keeps rising into the 50s; TPD pricing appears to weight the extra risk of smoking most heavily in the decade before it plateaus.
As of 8 September 2026 · monthly cost, from the insurers’ rate cards
| Age | Female non-smoker | Female smoker | Female multiple | Male non-smoker | Male smoker | Male multiple |
|---|---|---|---|---|---|---|
| 25 | about $15 | $20 to $30 | 1.29× | about $20 | $15 to $25 | 0.98× |
| 30 | about $15 | $20 to $30 | 1.26× | about $20 | $15 to $25 | 1.09× |
| 35 | about $20 | $20 to $30 | 1.15× | about $15 | $20 to $30 | 1.34× |
| 40 | $20 to $30 | $25 to $50 | 1.21× | $20 to $25 | $25 to $40 | 1.26× |
| 45 | $30 to $50 | $50 to $80 | 1.66× | $25 to $40 | $45 to $80 | 1.81× |
| 50 | $60 to $100 | $110 to $160 | 1.69× | $50 to $80 | $100 to $150 | 1.79× |
| 55 | $140 to $180 | $200 to $400 | 1.47× | $120 to $160 | $200 to $325 | 1.67× |
| 60 | $250 to $400 | $350 to $800 | 1.33× | $275 to $375 | $400 to $725 | 1.48× |
Which insurer is cheapest for TPD cover
No single insurer was cheapest at every age, sex and smoking status this cycle, and the insurer that priced the most rows was not the cheapest most often.
As of 8 September 2026 · monthly cost, from the insurers’ rate cards
| Age | Male non-smoker | Male smoker | Female non-smoker | Female smoker |
|---|---|---|---|---|
| 25 | about $20 | $15 to $25 | about $15 | $20 to $30 |
| 30 | about $20 | $15 to $25 | about $15 | $20 to $30 |
| 35 | about $15 | $20 to $30 | about $20 | $20 to $30 |
| 40 | $20 to $25 | $25 to $40 | $20 to $30 | $25 to $50 |
| 45 | $25 to $40 | $45 to $80 | $30 to $50 | $50 to $80 |
| 50 | $50 to $80 | $100 to $150 | $60 to $100 | $110 to $160 |
| 55 | $120 to $160 | $200 to $325 | $140 to $180 | $200 to $400 |
| 60 | $275 to $375 | $400 to $725 | $250 to $400 | $350 to $800 |
Across the 32 profiles priced, one insurer priced every profile and came out cheapest in the largest share of them; a second priced only 18 of the 32 profiles yet still came out cheapest in most of those it priced, which is why "priced the most rows" and "cheapest most often" are different questions; and a third priced 26 profiles but was never the cheapest. See the methodology page for the full per-insurer fill count.
What is the cheapest TPD insurance in NZ?
There is no single cheapest TPD insurer across every age and sex in this snapshot: which insurer comes out cheapest varies by age, sex and smoking status, per the QuoteHub Premium Index for September 2026. The cheapest priced insurer at your own age and sex is shown in the table above, and price is only one factor in choosing TPD cover; see our TPD insurance guide for the definitions and exclusions that matter alongside it.
Do men or women pay more for TPD insurance?
The sex gap in TPD pricing is smaller than trauma cover shows at the same ages, and briefly favours men in the mid-30s and again at 60.
As of 8 September 2026 · monthly cost, from the insurers’ rate cards
| Age | Male | Female | % gap |
|---|---|---|---|
| 25 | about $20 | about $15 | 5.2% |
| 30 | about $20 | about $15 | 9.2% |
| 35 | about $15 | about $20 | -15.2% |
| 40 | $20 to $25 | $20 to $30 | -12.6% |
| 45 | $25 to $40 | $30 to $50 | -15.4% |
| 50 | $50 to $80 | $60 to $100 | -11.8% |
| 55 | $120 to $160 | $140 to $180 | -10.3% |
| 60 | $275 to $375 | $250 to $400 | 5.0% |
At 25, the cheapest priced premium for a man (about $15 to $20) was roughly 5% above the cheapest for a woman (about $15 to $20). By 45 the male figure (about $25 to $30) was roughly 15% below the female figure (about $30 to $35). By 60 the gap had narrowed to about 5% in the man's favour (about $275 to $300 against about $250 to $275), which is a much flatter pattern than trauma cover, where the female price falls further behind the male price at every older age. See Asteron Life's TPD product page for one insurer's own published rates.
Do men or women pay more for TPD insurance in NZ?
Men paid slightly more at 25 and again at 60, and women paid more through the 30s, 40s and 50s, with the gap never exceeding about 15% in either direction in this snapshot, per the QuoteHub Premium Index for September 2026. That is a narrower and less one-directional gap than either trauma or life cover show over the same age range.
What does TPD cover you for?
TPD pays a single lump sum, most commonly used to clear debt, pay for care or adapt a home, once you are assessed as permanently unable to work under the policy's definition; it does not pay a recurring income, which is what income protection is for. AIA describes it as financial support for medical expenses, mortgage or rent payments, home modifications and employing a caregiver, and Asteron Life's brochure lists paying off debt, home modifications and everyday living expenses among the common uses (see the sources below). Compare that with income protection cost if you are weighing a lump sum against ongoing monthly cover.
How do you qualify for TPD?
You qualify for a TPD payout by meeting the policy's own permanent-disability definition, assessed against medical evidence, not by holding a particular diagnosis: AIA's own-occupation test asks whether you can resume your usual role in your current industry, while its any-occupation test, the one priced on this page, asks whether you can do any work reasonably suited to your training or experience. The exact wording, waiting period before a claim can be assessed, and any occupation exclusions differ by insurer and policy; see the TPD insurance guide for how the assessment process works in practice.
Can I claim TPD for PTSD?
A TPD claim can, in principle, be made for a permanent psychiatric condition including PTSD, but it must meet the same disability threshold as any other claim: permanent and total inability to work under the policy's own-occupation or any-occupation test, supported by medical evidence, and insurers apply that threshold strictly to mental-health claims. This is general information, not a statement that any particular condition would meet any particular insurer's definition; see a licensed adviser or your own policy wording before assuming eligibility.
Does ACC pay out for permanent disability instead of TPD insurance?
Only if the disability was caused by an accident: ACC provides financial support for a permanent injury as a one-off or an ongoing payment, with the amount depending on the date of the injury and the assessed level of impairment, and any such payment is tax-free (ACC, retrieved 8 September 2026). ACC does not cover permanent disability caused by illness, such as cancer or a degenerative condition, which is the gap that TPD insurance is designed to fill; see our guide to what ACC does not cover for the boundary in more detail.
How much TPD cover do I need?
There is no single published rule for a TPD sum insured; the right figure depends on your outstanding debt, dependants and how long your income would need replacing while you adjust, and it is different from a life cover calculation because you would still be alive and likely still have ongoing costs. Use the TPD calculator to model your own numbers against your mortgage and expenses, or speak to a licensed adviser about how TPD sits alongside your life cover and income protection.
Is a TPD payout taxable in New Zealand?
No: a personally owned TPD policy pays a tax-free lump sum in New Zealand, in the same way as life and trauma cover, with premiums not tax-deductible either. Employer-paid TPD cover changes who pays fringe benefit tax on the premium but the lump sum itself stays tax-free to you; see our full life insurance and TPD tax guide for trust-owned and employer-paid variations.
What each insurer's TPD cover actually is
The four priced insurers structure TPD differently, and "own occupation" versus "any occupation" is the single biggest driver of both the price and what actually triggers a claim.
| Insurer | Product, as published | Occupation definitions offered | Source |
|---|---|---|---|
| AIA | Total Permanent Disablement, part of AIA's Living range | Own occupation and any occupation, with any occupation the lower-cost option priced on this page | AIA: Total Permanent Disability Insurance, retrieved 8 September 2026 |
| Asteron Life | Total and Permanent Disablement Insurance | Pays a lump sum for permanent disablement including inability to return to work due to sickness or injury; offers a Specific Injury Support Benefit for 29 named injuries payable even while still working | Asteron Life: Total and Permanent Disablement Insurance, retrieved 8 September 2026 |
| Chubb Life | Complete Disablement Cover, under Assurance Extra | Pays a lump sum if completely disabled through illness or injury; sold alongside Chubb's other Assurance Extra benefits rather than as a standalone TPD label | Chubb: Complete Disablement Cover, retrieved 8 September 2026 |
| Fidelity Life | Total and permanent disability cover | Entry age 16 to 64; can be taken standalone or as an accelerated benefit against Life cover; age-rated or level premium options | Fidelity Life: Total and permanent disability cover, retrieved 8 September 2026 |
| Momentum Life | Not priced in this snapshot | Momentum Life did not return a TPD quote for any of the 32 profiles priced this cycle | QuoteHub Premium Index, 8 September 2026 |
| Partners Life | Not priced in this snapshot | Partners Life did not return a TPD quote for any of the 32 profiles priced this cycle | QuoteHub Premium Index, 8 September 2026 |
What is the difference between own occupation and any occupation TPD?
Own-occupation TPD pays out once you cannot return to your specific role in your current industry, even if you could retrain into a different job; any-occupation TPD, the definition priced on this page, only pays once you cannot do any work you are reasonably suited to by education, training or experience. AIA sets out both definitions on its product page (linked above), and own-occupation cover is typically priced higher because it is easier to trigger a valid claim under it.
Can I have TPD cover alongside life cover?
Yes, and most insurers in this snapshot offer TPD either as an accelerated benefit taken from your Life cover sum insured, which reduces the life benefit after a TPD claim, or as a standalone benefit that leaves your life cover untouched. Fidelity Life states TPD can be added into Life cover or taken as a standalone policy, and AIA and Asteron Life offer comparable structures in their product documentation linked above; a licensed adviser can model which structure suits your own life cover alongside TPD.
Is TPD the same as trauma insurance?
No. TPD pays a lump sum only once you are assessed as permanently unable to work; trauma insurance pays a lump sum on diagnosis of a listed serious condition such as cancer, heart attack or stroke, whether or not it affects your ability to work. See our trauma insurance cost page for how that pricing compares, and our TPD guide for how the two are commonly bundled.
What occupation class does this TPD pricing use?
Every figure on this page is occupation class 1, the standard, lowest-risk occupation category used across the QuoteHub Premium Index this cycle. A higher-risk occupation class would be priced differently, and this snapshot does not currently include a class-3 comparison; see the methodology page for the panel's scope.
Is TPD cover stepped or level in this snapshot?
Every TPD premium on this page is a stepped premium, which increases each year as you get older; the QuoteHub Premium Index does not currently publish a level-premium comparison, because the level-premium calculation period differs by insurer and has not been independently verified against the rating software's output. See stepped versus level premiums for what that choice means for your own cover.
How does TPD compare with trauma on price?
At age 45, non-smoking, the cheapest priced monthly premiums in this snapshot were about $25 to $30 for $250,000 of TPD cover and about $60 to $70 for $100,000 of trauma cover: two different products insuring two different risks with two different sums insured, so the premiums are not directly comparable without also weighing what each pays and when. See Fidelity Life's TPD product page for one insurer's own published rates. Income protection pricing was withdrawn from the Index on 9 September 2026 (see the methodology's Corrections section) and is not part of this comparison this cycle. See trauma insurance cost for the full breakdown and income protection cost for what drives that product's price instead.
How this snapshot was priced
The QuoteHub Premium Index is a September 2026 snapshot of four insurers' published TPD rates, sourced from insurers' published rate cards and collected through adviser rating software on the QuoteHub adviser account, as at 8 September 2026: standard rates, occupation class 1, any occupation, stepped premiums, no loadings or exclusions, indexed monthly cover. QuoteHub's read is that the missing 65-year-old age band and the uneven fill across insurers matter as much as the headline price: a snapshot that shows what it does not have is more useful than one that pretends every cell is filled. Full detail, including why the account can only restate this data quarterly, is on the methodology page. This page is general information, not personalised financial advice. Financial advice is provided by Craig Smith Business Services Limited, trading as Smiths Insurance & KiwiSaver, a licensed Financial Advice Provider (FSP712931). QuoteHub is a trading name. For advice on which TPD cover suits your situation, see our TPD insurance guide or use the TPD calculator to estimate a sum insured, then compare insurers on more than price.
Adviser's view
QuoteHub's read is that TPD cover's insurer spread is the widest of any product in this snapshot, so the gap between the cheapest and dearest priced insurer matters more here than on life or trauma cover. Two insurers, Partners Life and Momentum Life, priced no TPD at all this cycle, which this page states plainly rather than treating a four-insurer panel as a six-insurer one.
Talk through trauma cover with a licensed adviser · free, no obligation.
Cite this page QuoteHub NZ (2026). TPD Insurance Cost NZ, Sep 2026: The QuoteHub Index. www.quotehub.co.nz/quotes/tpd-insurance. Updated 2026-09-09.
References
- AIA: Total Permanent Disability Insurance
- Asteron Life: Total and Permanent Disablement Insurance
- Chubb: Complete Disablement Cover
- Fidelity Life: Total and permanent disability cover
- ACC: Financial support for a permanent injury
Explore related pages: Life Insurance, Income Protection, Health Insurance, Trauma Insurance, Referral.