Who we are
It’s reassuring to have life insurance, but only if you’re confident about who you've chosen to partner with. So allow us to reassure you with some background about ourselves.
The AA has been guiding life's journey's for over 115 years, and prides itself on being one of the most trusted brands in the country. As we've evolved over the years, so too has our offering to New Zealanders. The AA Life Insurance team strive to meet the needs of our AA Members and Kiwis alike, by providing valuable insurance products and great service.
We understand that not every Kiwi has the same needs, and that applies to taking our life insurance too. We let you choose how you'd like to engage with us to get your life insurance sorted: online, over the phone, or at your local AA Centre Network branch with one of our Insurance Consultants. We're proud to work with Asteron Life, who create and underwrite AA Life Insurance policies. Asteron Life is Suncorp New Zealand's life insurance specialist.
What we do
- We offer AA Life Insurance policies face-to-face, over the phone or online, so that you can engage with us in a way that works for you.
- We aim to explain everything in plain English, so you can make an informed decision without having to translate jargon.
- We provide tools and information so you can assess your needs and find the cover that’s best suited to you.
Our website provides general information about our products and services to help you make choices when it comes to protecting the things in life that really matter. The information doesn’t take into account your personal circumstances, needs or goals and is not intended to be financial advice.
If you'd like to receive financial advice, you can get professional advice from a registered financial adviser. Alternatively, we also partner with Asteron Life to offer a range of policies designed to help you protect your income, life and lifestyle. Find out more or book an appointment with one of our Insurance Advisers today.
Financial strength rating
Asteron Life Limited has been given an AA- financial strength rating by Standard & Poor’s.
|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.
You can find more information in our Terms and Conditions page.