Chubb Life LifeOne 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.
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.
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