AIA Living Funeral Cover vs OneChoice 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.
OneChoice Funeral Insurance — OneChoice Funeral Insurance
Wording version 2021-05-23
premium structure: Level premiums — 'Your premiums are level which means they are designed to stay consistent year on year, but will change if you apply to change your cover, or we change the premium rates for your Policy.' Premium is based on age at Commencement Date, Benefit Amount, and Insurance Plan chosen. premium continuation rules: 'When a Life Insured reaches age 85, and the Policy is still in force, cover for that Life Insured will continue, and premiums for that Life Insured are no longer payable.' Cover continues until the Life Insured's 100th birthday (at which point the Funeral Insurance Benefit is paid) or until another cover-ending event occurs.
Source: https://www.onechoice.co.nz/documents/onechoice-funeral-insurance-policy-document.pdf