Chubb Life LifeOne 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.
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.
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