Momentum Life Funeral Insurance vs OneChoice Funeral Insurance: Underwriting
Some NZ funeral cover is offered guaranteed-acceptance (no medical questions); others require a short medical questionnaire. The trade-off: guaranteed-acceptance pricing is higher and waiting periods longer. This page documents each insurer's underwriting approach verbatim.
Momentum Life Funeral Insurance — Momentum Life Funeral Insurance
Wording version 2020-09-21
guaranteed acceptance: Not explicitly stated as guaranteed acceptance; application must be accepted by us medical underwriting rules: No medical underwriting requirements described for application; at claim time claimant must supply sufficient proof including a form completed by a Medical Practitioner, any other medical or other information reasonably required including tests or medical results, and appropriate certification such as death certificate and/or confirmed diagnosis by a Medical Practitioner who is a specialist in the field
Source: https://nzcoverdirect.co.nz/media/qsxlz4ja/nzcd-funeral-insurance-policy-wording-mlf2.pdf
OneChoice Funeral Insurance — OneChoice Funeral Insurance
Wording version 2021-05-23
guaranteed acceptance: Yes medical underwriting rules: No medical underwriting is required. The policy is available to any New Zealand Resident aged 18–79. There is a duty of disclosure obligation on the applicant, and failure to comply may result in reduced liability or Policy cancellation, but no medical examinations or health questions are referenced as a condition of acceptance.
Source: https://www.onechoice.co.nz/documents/onechoice-funeral-insurance-policy-document.pdf