|Posted on 24 December, 2017 at 5:20|
If you are comparing leading funeral covers NZ you are likely to be drawn to big insurers like AA Life with their AA Funeral Plan, and the Cigna Funeral Insurance at Cigna Life. They are big spenders on TV ads so they quite possibly are names you will think of first when considering funeral insurance. You may also think of names like State Insurance and AMI Insurance even though they mainly sell house, contents and car insurance.
They are options to consider but funeral insurance is actually quite a niche market so there are plenty of other funeral plans out there from insurers you maybe do not recognise so well, if at all. Some just sell funeral covers or a small range of life insurance type products that try to have a point of difference than the bigger name brands have. They are quite often very worthwhile checking out, expecially we find for funeral insurance. Likewise some of the biggest life insurers do not actively promote their funeral plans in the same way as they do for life insurance.
Some of these niche type funeral plans that are worth at least reading up on are the Pinnacle Life Funeral Plan and covers from the likes of Partners Life, Greenwich Life and Legacy Life. They all have points of dfference so their funeral covers vary and ther premiums can also be quite different from one insurer to the next. Fidelity Life have two funeral type plans, one their funeral fund which you pay in to for 10 years and also their Golden Life product which sometimes suits those seeking funeral cover.
Some examples of how the various funeral covers NZ differ include;
Cigna Funeral Cover – entry ages 50 to 85, cover $5000 to $30000, premiums payable until claim time regardless of age
Pinnacle Life Funeral Plan – entry ages 30 to 75, cover $7500 to $25000, pay premiums until age 85 then free thereafter
AA Funeral Plan – entry ages 50 to 79, cover $5000 to $30000, pay premiums to age 90 then free thereafter
Fidelity Life Funeral Plan – entry ages 17 to 64, Cover $12000 only, pay premiums for 10 years then free thereafter (NB pay in at a faster rate)
So, if you are looking at the Cigna Funeral Plan or AA Funeral Plan spare a thought for Pinnacle Life, Fidelty Life or one of the others we can detail. We can happily provide more information to you regarding those lesser known options so you can consider if they are more what you are looking for. We can email you comparative information and include a range of quotes if you click here http://www.funeralinsurancenz.co.nz/online-enquiry-form.
Paul Woollams, Funeral Insurance NZ
PS Update at Jan 2018, Cigna Funeral Cover new age entry points 45 to 80 and premiums now payable to age 90 only