“Your mind is put at ease, done and dusted.”David
$9,000 Funeral Cover for $34.74 fortnightly
“One less thing to worry about.”Cathy and Owen
$21.54 and $34.14 fortnightly
Funeral Cover is a simple, guaranteed acceptance insurance policy to pay your funeral costs. Early payout for terminal illness and additional accidental death benefit are included at no extra charge.
It’s always hard when a loved one dies, but your family knowing they don’t have to face unexpected debts or costs can really help them cope at that time.
Funeral Cover is a simple, guaranteed acceptance insurance policy that can be used to pay for your funeral expenses and other associated costs, putting your mind at ease. We also include early payout for terminal illness and an additional accidental death benefit.
The illustration below can help you understand if Funeral Cover would benefit you in your circumstances.
Thankfully most of us don’t have to deal with funerals very often. Because of this, we don’t always realise how many decisions there are to make or costs to cover, from coffins to catering.
Creating a plan now will help give your family assurance that they are making the right decisions for you, and will help you understand how much cover you may need to buy.
We’ve put together an easy guide to help you make those decisions and share them with someone you trust.
It takes about 3 minutes
Funeral cover provides budget certainty
because premiums do not rise with age
Deciding how much cover you need is simply a matter of deciding how much money you want available to cover your funeral. The average cost of a funeral in New Zealand is more than $8,000*. Select a cover level from $5,000 to $30,000 in $1,000 increments.
Funeral Cover provides a lump sum payout just like full life insurance. There is no income tax payable on the policy payout so you get the full amount you’re covered for.
After two years of continuous cover, if you’re diagnosed with a terminal illness and have less than 12 months to live you could receive your full payout early.
If you’re aged under 65, are suffering financial hardship, and have had two years of continuous cover, you may be eligible for a premium holiday for up to 6 months.
Acceptance is guaranteed if you're aged from 50 to 79 years – that means that there are no medical questions to answer and you won’t need a medical check. Once you’ve got the policy, changes to your health won’t affect your cover. When you reach your 90th birthday, your cover will continue free of charge, from the next policy anniversary date.
Funeral Cover is an insurance policy and not a savings plan. Like other types of insurance this means depending on how long you have your policy, the premiums paid may exceed the Cover Amount payable.
This policy usually pays out within 48 hours of your claim being accepted - so the money is there when it's needed.
As soon as we receive your fully completed Funeral Cover Insurance acceptance form you're covered immediately for death caused by an accident.
Make a joint Funeral Cover Insurance application with your spouse or partner and when you take the policy out you'll both receive a 20% discount on your premiums.
You enjoy a 30-day no-obligation review - if it's not what you expected or you change your mind we'll cancel your Funeral Cover Insurance policy and refund any premiums paid.
If you die of a natural cause within the first two years of your policy, we'll refund 100% of any premiums paid. After two years of continuous cover you're fully covered.
This can be your partner, spouse or anyone you wish. When you die, the payment will be made directly to them instead of your estate, making the money quickly available.
So long as you’re a NZ citizen or permanent resident you're covered for funeral insurance anywhere in the world.
If your death is a result of an accident, you’ll receive an additional accidental death benefit
Please see the Funeral Cover policy document for a full list of exclusions, but these are the main areas not covered:
Premiums can be paid fortnightly, monthly (direct debit and credit card only), quarterly, half-yearly or annually by direct debit, credit card or cheque.
|Who it covers||Ages 50-79, guaranteed acceptance.|
|Application process||No medical questions.|
|Cover begins||Immediately for accidental death. After 2 years you're fully covered.|
|Cover type||Covers your funeral and related costs, including early payout for terminal illness and additional accidental death benefit.|
|Term||After your 90th birthday, cover continues free of charge|
|Pay-out amount||Between $5,000 and $30,000*|
*If you die in an accident we'll pay out an additional benefit. This can be up to double your cover amount.
It takes about 3 minutes
Funeral Cover is a guaranteed acceptance insurance policy for 50 to 79 year olds that will provide funds to be used to pay for your funeral expenses and other associated costs when you die. Our policy also makes an early payment if you are diagnosed with a terminal illness.
So that we can guarantee acceptance of your cover, the policy only covers accidental death for the first two years. After this you are fully covered.
If you cancel within the 30 day no-obligation review period, we’ll refund any premiums you have paid. If you cancel after this, you won’t receive a refund, unless you’ve paid annually in advance, in which case we’ll refund you for any future period already paid for.
If you have some savings or investments, you might consider the benefits of saving for your funeral instead of taking out an insurance policy. As with any insurance policy, depending on how long you have your cover in place, the premiums paid may exceed the cover amount payable. The advantage of Funeral Cover is that as soon as a policy is in place, you’ll be covered for death caused by an accident – no matter how much premium you’ve paid. After two years, you’ll also be covered if you die of a natural cause.
No. Your premiums are fixed for the life of the policy and won’t change based on individual circumstances. In the unlikely event we experience unexpected and sustained extra costs to our business and we need to put our prices up there could be an increase across all policy holders. We don’t expect this to happen unless there are exceptional circumstances, and we will always give you 28 days notice of any change, with the option to cancel your policy.
No. Funeral Cover must be taken out by the person to be insured under the policy.
The amount of cover you choose depends on the kind of funeral you want – try our easy Funeral Planning Guide to help you decide what’s important to you.
When a claim is made, the full value of the policy will be paid out in a lump sum to your estate or to the bank account of the person you nominate as Joint Owner.
If you’re aged 50-79, and have had health issues, Funeral Cover is a great fixed-cost way to help cover the cost of your funeral.
If you’re aged 16-55 and your health is good, Life Cover might suit you better. Find out more.
A Joint Owner is the person who owns the policy with you and who will receive the money directly into their bank account when the payout is made. This is usually within 48 hours of a completed claim being accepted.
The Joint Owner will be able to use the funds to pay for the funeral you have planned. We know it can be difficult to talk about plans for after you’ve gone, so within our Funeral Planning Guide we’ve made it possible for you to email them a copy of your preferences to help make this conversation a little easier. You can also print a copy of your preferences to keep with your (or your Joint Owner’s) records.
If you choose to have a Joint Owner they will have joint ownership rights to the policy. This means they will need to consent to any changes to your policy after purchase such as change of address, wanting to increase or decrease the policy value or requesting a premium holiday.
Lastly - it is important that the Joint Owner realises they are receiving the money to pay for the funeral expenses. This is not an inheritance or money for them to keep for themselves so you need to choose someone you can trust to act as Joint Owner.
Customers tell us that sometimes financial hardship means they have to think about cancelling their policy.
For this reason we offer a Premium Holiday Benefit to those suffering financial hardship. If you can’t reasonably afford your premiums, you can apply to us, and we may be able to put them on hold for a maximum of six months so you don’t have to cancel the policy while you get back on your feet. You do NOT need to pay us back. You must be under 65 years of age, and have had the policy in place for 2 years to qualify for this benefit.
To apply for the Premium Holiday Benefit please contact us.
We’re always happy to discuss your policy, whether you’re a new or existing customer.
General questions: 0800 808 234
Claims: 0800 808 175
We’re here to make sure your policy pays out as quickly as possible, and that the process is easy to follow.
If you need to make a claim on your policy, or a policy on which you are the representative or Joint Owner, please call us now on 0800 808 175.
To make a death claim, your representative will need to provide the date of death, cause of death, and contact details for the administrator of your estate (if you haven’t specified a Joint Owner).
If you specified a Joint Owner on your policy, payment will be made directly to them. We’ll contact them to get the rest of the information needed to process the claim, which includes:
If you have been diagnosed with a terminal illness at least two years after taking out your policy and have less than 12 months to live, please provide us with the following:
Once we have these documents and have accepted your claim, we will pay out the money immediately.