Fidelity Life Funeral Cover (LifeProtect rider) vs OneChoice Funeral Insurance: Indexation
Funeral costs rise over decades; a fixed sum-insured at signup may not cover the funeral at claim time. Some NZ insurers CPI-index the sum-insured; others leave it fixed. This page documents each insurer's indexation approach verbatim.
Fidelity Life Funeral Cover — Fidelity Life Funeral Cover (LifeProtect rider)
Wording version 2025-04-30
indexation rules: If CPI Increases are included in this cover, the policy schedule will state it. The last increase under CPI Increases for the insured person under Life Cover will be applied on the earliest of: the policy anniversary after their 65th birthday, or the total sum insured for all life type covers for the insured person with us and any other insurer, reaching $10,000,000.
Source: https://www.fidelitylife.co.nz/media/rhwnwmfn/life-protect-life-cover-policy-wording.pdf
OneChoice Funeral Insurance — OneChoice Funeral Insurance
Wording version 2021-05-23
indexation rules: No CPI indexation mentioned. Benefit Amount is fixed as chosen, except that from age 85 a 25% Bonus Cover is automatically added to the Funeral Insurance Benefit Amount in force immediately prior to the Life Insured's 85th birthday, at no additional premium.
Source: https://www.onechoice.co.nz/documents/onechoice-funeral-insurance-policy-document.pdf