AIA Living Funeral Cover vs Momentum Life Funeral Insurance: 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.
Momentum Life Funeral Insurance — Momentum Life Funeral Insurance
Wording version 2020-09-21
premium structure: Premium rate remains the same each year until the Life Insured reaches his or her 85th birthday, at which time premium payments will end, provided no increase is required because of a change in tax (including but not limited to Goods and Services Tax) or other legislation, or because our claims experience is materially different from expected. premium continuation rules: Your premium rate will remain the same each year until the Life Insured reaches his or her 85th birthday, at which time premium payments will end.
Source: https://nzcoverdirect.co.nz/media/qsxlz4ja/nzcd-funeral-insurance-policy-wording-mlf2.pdf