AIA Living Funeral Cover vs Chubb Life LifeOne 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.
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.
Chubb Life Funeral Cover — Chubb Life LifeOne Funeral Cover
Wording version 2026-05-21
premium structure: Premiums will not increase each year based on age or situation (capped/level structure). Rates may change only if Chubb Life changes premium rates across all policies issued under this Funeral Cover, with 30 days written notice. premium continuation rules: Premiums continue until the earliest of: the life assured's 90th birthday, or the date Chubb Life accepts an application for the Long-Term Care Premium Waiver.