Funeral Insurance NZ frequently asked questions and answers
Funeral Cover NZ
Who can buy Funeral Insurance in New Zealand?
Any NZ citizen or resident aged 30 to 85 can buy a Funeral Cover Plan with no health questions asked now or ever.
Who are the leading Funeral Plan insurers in NZ?
Pinnacle Life, Cigna Life, AA Life, Partners Life, Greenwich Life, Legacy Life (AIA), Fidelity Life, AMI and State are amongst the leading insurers. But each insurer has different policy features and premiums.
Can I buy funeral cover online ie not signing something later?
Yes, funeral plans can be bought online with a number of leading NZ funeral insurance providers. They have online applications where the policy is issued on the spot. Or paper application forms are simple.
Why do Funeral Cover Plans have a stand-down period?
As cover is guaranteed with no health questions asked, covers have a stand-down period to prevent those who are very unwell from taking out a funeral cover and then claiming within a potentially short time.
Who can be nominated as the Funeral Insurance beneficiary?
You can nominate anyone to be your beneficiary and also change at any future time. Most commonly people name their spouse or one of their adult children. But it can also be a trust or similar.
Are all funeral insurance policies in NZ the same?
While loosely similar, some insurers do have unique policy benefits that may be attractive to you. Certainly premiums differ widely between insurer to insurer so a comparison of numerous insurers is sensible.
Can I get funeral insurance discounts with my domestic insurances?
No, as a rule. Some house, contents, car insurers may offer funeral plans but normally through another entity, for example AA funeral plans are underwritten by Asteron.
Do some funeral plans become free after a certain time or age?
Yes, there are funeral cover options where premiums cease at age 85 or age 90 with cover then free thereafter. Or there is a funeral fund where premiums are paid for 10 years only.
Do my parents have to sign the funeral cover application?
Typically they do have to sign the funeral cover application, as the insured person, but if they cannot (or will not) there are some options where you can sign as the policy owner instead.
Is new funeral insurance available for those now aged 85 or more?
Sadly, we are unaware of any funeral cover NZ provider who sell new cover to those aged 85 or older. It is just too late for the funeral plans to be cost effective for any insurer. Premiums would be astronomical!
Funeral Insurance comparisons are readlily available where?
To compare Cigna Funeral Insurance, AA Life Funeral Cover features and acceptance criteria against any other funeral insurance plans you can view our easy to read 2 page comparison chart here. We are not aware of any other similar chart on any NZ website.
How quickly is Funeral Insurance NZ paid out after death?
Typically insurers aim to pay claims within 24-48 hours of being provided with all necessary proof of death. So, as long as evidence can be provided promptly so too can the claim settlement be made promptly.
What cover amounts are available for Funeral Covers in NZ?
Across a range of NZ funeral insurance providers you can obtain cover for amounts ranging from $5000 to $30000
How easy is it to buy Funeral Insurance?
Funeral Plans are probably the easiest insurances to buy with their guaranteed acceptance and options to buy with easy online applications or just as simple one or two page paper forms.
What is the easiest way to compare funeral insurance plans?
Rather than checking every insurer website individually it is best to use a specialist funeral insurance advisor (like us!) . We can provide you with an easy to read chart that compares up to 12 insurers at one time.
Can funeral cover NZ premiums be paid weekly?
We are not aware of any funeral covers in NZ you can pay weekly. There are some options for fortnightly but only by direct debit or monthly by direct debit, internet banking or credit card.
Can a funeral insurance policy be cancelled at any time?
You can cancel your funeral insurance at any time for no cost by sending a written request signed by the persons being insured or the policy owner. No money back applies on currently sold policies.
Are funeral cover plan premiums fixed for life?
Generally, for all currently sold funeral insurance policies this is the case. Some do come with promotional discounts for the first 12 or 24 months though as a sales incentive.
How can I access a funeral insurance comparison NZ chart?
On this site, Funeral Insurance NZ, there is a tab titled Funeral Insurance Comparison, so you want to view a simple 2 page chart comparing Funeral Covers then this will be very helpful.
Why do some leading NZ life insurers not sell Funeral Insurance?
Many of the biggest NZ life insurers do not actively promote funeral cover as they instead concentrate on life insurance. Funeral Plans are typically provided by a niche area within the insurance industry.
Can I alter the nominated beneficiary on my funeral insurance?
At any time, and for free, you can advise the funeral cover insurer of a new beneficiary to receive the claim proceeds from your funeral insurance. Usually you just need to drop them a written request.
Can I get funeral cover NZ of $5000?
A number of funeral plan providers start their cover levels from $5000 so these are easy to find for you. It is dependant on your age but if you complete our enquiry form we include $5000 options where available.
Can I buy funeral insurance at age 30?
Yes, you can buy a funeral cover at age 30 (or you can also say from age 30), we will advise the insurer options available. But, the younger you are the more likely a standard life insurance may be a better option for you. We can compare the two covers for you in one quick email.
Are Cigna Funeral Cover and AA Funeral Plans the only ones?
No, far from it. While quite high profile funeral insurance plans they are just two of many out there. All slightly different in terms of their covers and premiums. Be sure to compare at least 3 plans before buying.