Who can buy a funeral cover plan in NZ?

Posted on 20 February, 2018 at 1:50

A standard funeral cover is available to those aged 30 to 85 but the age entry points do differ between insurers. For example, Pinnacle Life covers new customers from age 30 but at the oldest ages you then have the Partners Life funeral plan available to those up to age 85, Cigna Life 80 and AA Life 79.

To compare some of the top funeral cover plans the various age entry points are;

Cigna Funeral Cover – at the time of policy issue – ages 45 – 80
Partners Life – ages 55 – 85
AA Funeral Cover – ages 50 – 79
Pinnacle Life – ages 30 – 75
It is important to undertand that the higher ages shown such 85 or 80 are the oldest ages you can be at the time the policy is taken out, it is not an age the cover might cease once the policy is in force.

If you meet the age entry criteria above the other main rule is you must have NZ citizenship or residency and that you live in New Zealand at the time the funeral plan is taken out.

Customers with medical issues are not prevented from obtaining funeral insurance as funeral cover is guaranteed acceptance, the insurance company does not even ask about your past or present health at any time now or in the future. This is the opposite of life insurance where full health disclosure is required in nearly every instance. But a client with more serious health concerns may be affected by the 2 year stand-down period that is standard for claims arising from natural causes.

These are the two most important criteria that determines who can buy Funeral Cover NZ. It is generally very simple for the age group 30 to 85 who are NZ citizens and residents living in New Zealand with a wide range of insurer options available.

Paul Woollams, Funeral Insurance NZ