AA Life Funeral Cover vs AIA Living Funeral Cover: Premium structure
NZ funeral premiums are mostly stepped (rise with age) or level (flat within a tier). The shape decides whole-of-life cost — stepped is cheaper at signup but compounds. Some policies stop charging premium past a defined age.
AA Life Funeral Insurance — AA Life Funeral Cover
Wording version 2026-05-21
premium structure: Annual renewable policy (term of one year, renewing each year). Premiums are age-based as set out in the policy summary. We can increase premiums only if the same increase is applied to every other Funeral Cover policy issued under the same offer. premium continuation rules: Premium payments will end on the policy anniversary date after the person insured reaches age 90. Cover under this policy will continue until a claim is accepted, death occurs, or you cancel the policy.
AIA Funeral Cover — AIA Living Funeral Cover
Wording version 2026-05-21
premium structure: The policy references both a 'Rate for Age' (stepped) premium type and a 'Level' premium structure, and includes a Premium Conversion Facility allowing conversion from Rate for Age to a Level premium structure at any time without further medical evidence.