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.
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.
The Insurance (Prudential Supervision) Act 2010 requires all licensed insurers to have a current financial strength rating that is given by an approved rating agency.
Asteron Life Limited has been given an "A+" (Strong) financial strength rating by Fitch Australia Pty Ltd (Fitch), an approved ratings agency. A rating of A means Asteron Life has a strong capacity to meet policyholder and contractual obligations.
Fitch Rating Scale
| Category | Definition |
|---|---|
| AAA: Exceptionally Strong | ‘AAA’ IFS ratings denote the lowest expectation of ceased or interrupted payments. They are assigned only in the case of exceptionally strong capacity to meet policyholder and contract obligations. This capacity is highly unlikely to be adversely affected by foreseeable events. |
| AA: Very Strong | ‘AA’ IFS ratings denote a very low expectation of ceased or interrupted payments. They indicate very strong capacity to meet policyholder and contract obligations. This capacity is not significantly vulnerable to foreseeable events. |
| A: Strong | ‘A’ IFS ratings denote a low expectation of ceased or interrupted payments. They indicate strong capacity to meet policyholder and contract obligations. This capacity may nonetheless be more vulnerable to changes in circumstances or in economic conditions than is the case for higher ratings. |
| BBB: Good | ‘BBB’ IFS ratings indicate that there is currently a low expectation of ceased or interrupted payments. The capacity to meet policyholder and contract obligations on a timely basis is considered adequate, but adverse changes in circumstances and economic conditions are more likely to impact this capacity. |
| BB: Moderately Weak | ‘BB’ IFS ratings indicate that there is an elevated vulnerability to ceased or interrupted payments, particularly as the result of adverse economic or market changes over time. However, business or financial alternatives may be available to allow for policyholder and contract obligations to be met in a timely manner. |
| B: Weak | B’ IFS ratings indicate there is significant risk that ceased or interrupted payments could occur in the future, but a limited margin of safety remains. Capacity for continued timely payments is contingent upon a sustained, favorable business and economic environment and favourable market conditions. |
| CCC: Very Weak | ‘CCC’ IFS ratings indicate two possible conditions. If obligations are still being met on a timely basis, there is a real possibility that ceased or interrupted payments could occur in the future. Capacity for continued timely payments is solely reliant upon a sustained, favorable business and economic environment and favorable market conditions. Alternatively, a ‘CCC’ IFS rating is assigned to obligations that have experienced ceased or interrupted payments and with the potential for outstanding to superior recoveries. Such obligations would possess a recovery assessment of ‘RR1’ (Outstanding) or ‘RR2’ (Superior). |
| CC: Extremely Weak | ‘CC’ IFS ratings indicate two possible conditions. If obligations are still being met on a timely basis, it is probable that ceased or interrupted payments will occur in the future. Alternatively, a ‘CC’ IFS rating is assigned to obligations that have experienced ceased or interrupted payments, with the potential for good recoveries. Such obligations would possess a recovery assessment of ‘RR3’ (Good). |
| C: Distressed | ‘C’ IFS ratings indicate two possible conditions. If obligations are still being met on a timely basis, ceased or interrupted payments are imminent. Alternatively, a ‘C’ IFS rating is assigned to obligations that have experienced ceased or interrupted payments and with the potential for average to poor recoveries. Such obligations would possess a recovery assessment of ‘RR4’ (Average), ‘RR5’ (Below Average) or ‘RR6’ (Poor). |
Note: "+" or "-" may be appended to a rating to indicate the relative position of a credit within the rating category. Such suffixes are not added to ratings in the AAA category or to ratings below the CCC category.
You can find more information in our Terms and Conditions page.
*Provide a valid AA Membership number at time of purchase. Discount applies to the total premium.
