The new top limit is $100,000 per member.
"At Booster, we recognise that not everyone can afford to get insured in the case of their accidental death, so we’re making sure our KiwiSaver members are covered from day one," the company says.
"We know this cover has helped families when they have been dealing with the tragic loss of a loved one and have heard from people about the positive impact it’s had."
To date more than 12,700 members have immediately received extra cover with these changes. And many more will benefit over the coming years, Booster says.
Booster KiwiSaver members (apart from those with investment in the Default Saver Fund) immediately qualify for $10,000 of cover. As the length of time they consistently contribute grows and as their balances increase, the level of cover increases – up to $100,000.
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