Kiwis can't see need for insurance: Research

It has conducted research that shows 40% of New Zealanders do not have any kind of life insurance., including life insurance, trauma and income protection.

Only 16% are thinking about getting it in future.

It said New Zealand had the third-lowest penetration of insurance among the OECD countries. Only Greece and Mexico have less personal insurance.

Bull said New Zealand’s market penetration stood at 0.9%, compared to the OECD average of 5%.