AA Life is here to provide the life insurance Kiwis need, simple as that
It’s reassuring to have life insurance – but only if you’re confident about the insurer you’ve chosen. So allow us to reassure you with some background about ourselves.
- We believe cover should be simple and easy to understand.
- We aim to explain everything in straightforward plain English so you can choose without having to translate jargon.
- We provide tools and information so you assess your needs and find the kind of cover that’s best suited to you.
- We’ve been awarded the 2013, 2014, 2015 and 2016 Reader’s Digest Most Trusted Brand award in the life insurance category.
- AA Life is a partnership between the New Zealand Automobile Association (AA) and Suncorp Group New Zealand. Asteron Life Limited is Suncorp New Zealand’s specialist insurer and underwrites all our life insurance products.
done to make it easy
An A+ financial strength rating so you can be confident you'll receive your payout
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In-depth tools and helpful information
Please read the following terms carefully – use of AA Life content on this website means that you agree to these.
While every reasonable effort has been made to ensure that the information contained on this website is complete and accurate, AA Life Services Limited does not represent or warrant the accuracy or completeness of any information on this website, or that this information is suitable for use in every situation.
The information contained on this website is of a general nature only and it is not personalised advice. If you would like advice that takes account of your particular financial situation or goals, please contact your financial adviser. It is important that you treat this website and the information it contains simply as a guide. Full details of the products described or referred to on the website, including full descriptions of defined terms, are set out in the relevant product, service or policy documents,. You can obtain any of these from us by calling 0800 808 175.
AA Life Services Limited does not accept any responsibility or liability arising directly or indirectly from or in connection with your use of or reliance on this website and the information and representations contained on it, or from any omission from the website. In the event of any inconsistency, implied or otherwise, between the information on this website and any product, service or policy documents, then the product, service or policy documents will prevail.
AA Life Services Limited (AA Life) may at times offer a live web chat service to visitors of the AA Life section of the website. The use of the live chat service is optional for the visitor. The live chat service will only be available at certain times. AA Life does not guarantee the availability of the live web chat service. AA Life makes no representation that they will be able to answer all of the questions asked during the live web chat service and may need to direct you to call on 0800 808 234 .
Information collected through the live web chat will be held by our third party service provider.
The Insurance (Prudential Supervision) Act 2010 requires all licensed insurers to have a current financial strength rating provided by an approved rating agency.
Asteron Life Limited, which provides and underwrites AA Life policies, has been given an A+ financial strength rating by Standard and Poor’s. The outlook is Stable.
The rating scale is: Standard & Poor’s Long-Term Insurer Financial Strength Ratings Scale*.
|AAA||An insurer rated ‘AAA’ has extremely strong financial security characteristics. ‘AAA’ is the highest insurer financial strength rating assigned by Standard & Poor‘s.|
|AA||An insurer rated ‘AA’ has very strong financial security characteristics, differing only slightly from those rated higher.|
|A||An insurer rated ‘A’ has strong financial security characteristics, but is somewhat more likely to be affected by adverse business conditions than are insurers with higher ratings.|
|BBB||An insurer rated ‘BBB’ has good financial security characteristics, but is more likely to be affected by adverse business conditions than are higher-rated insurers.|
|BB; CCC; CC||An insurer rated ‘BB’ or lower is regarded as having vulnerable characteristics that may outweigh its strengths. ‘BB’ indicates the least degree of vulnerability within the range; ‘CC’ the highest.|
|BB||An insurer rated ‘BB’ has marginal financial security characteristics. Positive attributes exist, but adverse business conditions could lead to insufficient ability to meet financial commitments.|
|B||An insurer rated ‘B’ has weak financial security characteristics. Adverse business conditions will likely impair its ability to meet financial commitments.|
|CCC||An insurer rated ‘CCC’ has very weak financial security characteristics, and is dependent on favourable business conditions to meet financial commitments.|
|CC||An insurer rated ‘CC’ has extremely weak financial security characteristics and is likely not to meet some of its financial commitments.|
|SD or D||An insurer rated ‘SD’ (selective default) or ‘D’ is in default on one or more of its insurance policy obligations but is not under regulatory supervision that would involve a rating of ‘R’. The ‘D’ rating also will be used upon the filing of a bankruptcy petition or the taking of similar action if payments on a policy obligation are at risk. A ‘D’ rating is assigned when Standard & Poor's believes that the default will be a general default and that the obligor will fail to pay substantially all of its obligations in full in accordance with the policy terms. An ‘SD’ rating is assigned when Standard & Poor's believes that the insurer has selectively defaulted on a specific class of policies but it will continue to meet its payment obligations on other classes of obligations. A selective default includes the completion of a distressed exchange offer. Claim denials due to lack of coverage or other legally permitted defences are not considered defaults.|
|R||An insurer rated ‘R’ is under regulatory supervision owing to its financial condition. During the pendency of the regulatory supervision, the regulators may have the power to favour one class of obligations over others or pay some obligations and not others. The rating does not apply to insurers subject only to nonfinancial actions such as market conduct violations.|
|NR||An insurer designated ‘NR’ is not rated, which implies no opinion about the insurer‘s financial security.|
*Ratings from ‘AA’ to ‘CCC’ may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories.
The rating scale is available for inspection at every Asteron Life office in New Zealand
AA Life is a partnership between The New Zealand Automobile Association Incorporated (AA) and Suncorp Group New Zealand. Asteron Life Limited is Suncorp New Zealand’s specialist life insurer and underwrites all our life insurance products.
|Claims we've paid out in the past 6 months*|
|Age||Gender||Cause of Death||Amount Paid|
|52||Female||Ischaemic heart disease||$178,500|
*July- December 2016.