ANZ life insurance in New Zealand
Life insurance sold through ANZ New Zealand is underwritten by Chubb Life Insurance New Zealand Limited, not by the bank. ANZ's page says its insurance is "underwritten by third party insurers" and names Chubb Life as its partner. Chubb Life holds an A.M. Best rating of A (Excellent). ANZ Life & Living is closed to new customers.
In short
- Chubb Life pays the claim. ANZ distributes the cover and says it may receive commission.
- ANZ's page lists life insurance, critical illness and income protection, with a funeral advance on life cover, but publishes no entry ages or cover limits.
- Existing ANZ Life & Living holders call Chubb Life on 0800 658 585 for questions or claims.
- Each bank in New Zealand uses a different insurer, so the bank name does not tell you who stands behind a policy.
Who provides ANZ life insurance?
ANZ life insurance is life cover that ANZ New Zealand arranges but a separate insurer underwrites. ANZ's insurance page says: "Our insurance solutions are underwritten by third party insurers", with Chubb Life as its life and income insurance partner, and adds that ANZ does not guarantee the underwriters or their products (ANZ: Life insurance). The insurer is Chubb Life Insurance New Zealand Limited. A.M. Best rates it A (Excellent), and Chubb publishes a solvency margin of $78.5 million at 30 June 2026 (Chubb Life: Financial strength). One trap: Chubb Insurance New Zealand Limited is the general insurer, a different company, and its rating is not Chubb Life's.
The chain from Cigna to Chubb Life
If an old ANZ-era document carries the name Cigna, the sourced history is short.
| Date | Event | Source |
|---|---|---|
| 2021 | Chubb agrees to buy Cigna's life insurance business in New Zealand | Chubb customer letter |
| 1 July 2022 | Sale completed | Chubb press release |
| Early 2023 | Cigna Life Insurance New Zealand Limited renamed Chubb Life Insurance New Zealand Limited; terms, cover and premiums unchanged | Chubb customer letter (file dated March 2023) |
Chubb's letter said the change "will not impact the terms and conditions of your existing policy, coverage or premiums". How earlier names such as OnePath fit before Cigna is not documented on ANZ's page or in the Chubb letter. We could not source a dated primary document for it, so this page gives no dates or ownership steps for it. Our guide to who holds your old policy and the Cigna page say what is verified.
What ANZ offers
ANZ lists three kinds of cover, in its own words:
- Life insurance. "Provides a lump sum payment if you die or are diagnosed with a terminal illness." It "includes an advance payment to help with immediate expenses like a funeral". ANZ does not state the amount.
- Critical illness. A lump sum for a defined illness or condition such as cancer, heart attack or stroke for the first time.
- Income protection. A monthly amount if you cannot work through illness or injury.
You can apply in the ANZ goMoney app, through Chubb Life's online tool, by phoning ANZ on 0800 269 855 (ANZ says it will connect you with a Chubb Life Insurance specialist "who can provide you with personalised advice and support") or at a branch. ANZ's page says it may receive commission on any policy it arranges, and on referrals to Arthur J. Gallagher & Co (NZ) Limited and to Chubb Life.
What ANZ does not say
The ANZ page gives no entry ages, no cover limits and no exclusions. QuoteHub's Chubb Life page notes that Chubb does not publish entry-age ranges for its Life and Living and Assurance Extra covers. Chubb's published underwriting guide (May 2025) asks only a personal statement up to $500,000 at every age band for its adviser-channel life cover, and more medical evidence from $500,001 at 61 and over (the guide is a guideline, and the underwriter may ask for more) (Chubb underwriting guide). ANZ does not say which Chubb range its cover uses, so treat that as general. Waiting periods, exclusions and the terms of the funeral advance sit in the policy wording. Ask for it before you apply.
ANZ Life & Living
ANZ says: "We no longer offer ANZ Life & Living Insurance to new customers." Existing policyholders should call Chubb Life on 0800 658 585 with questions or to make a claim. Claims can also go to [email protected]. Chubb Life's complaints scheme is named in your policy documents.
How banks compare on who stands behind the cover
None of the five big retail banks underwrites its own life cover. Each bank's page names its insurer, as at 20 October 2026.
| Bank | Underwriter named | What the bank's page says | Read |
|---|---|---|---|
| ANZ | Chubb Life | May receive commission on policies it arranges | 20 October 2026 |
| ASB | AIA New Zealand | "underwritten and administered by AIA New Zealand Limited" | 20 October 2026 |
| BNZ | Partners Life | "We no longer provide life insurance"; existing policies are handled by Partners Life | 20 October 2026 |
| Kiwibank | nib nz limited | Referral fees paid; includes a $15,000 funeral expenses lump sum | 20 October 2026 |
| Westpac | Fidelity Life | Commission paid | Fidelity's page, 20 October 2026 |
Sources: ANZ, ASB, BNZ, Kiwibank, Fidelity Life: Westpac. See our pages on Westpac, ASB, BNZ and Kiwibank.
Bank cover and adviser cover
The FMA says most insurance advisers also receive commission from the insurer, built into the premium (FMA: Insurance advice), so commission alone does not separate a bank from an adviser. The practical differences are scope and who compares. A bank channel tends to offer one insurer. An independent adviser can ask several. Our bank versus broker guide goes through it.
How to claim
Call Chubb Life on 0800 658 585 or email [email protected] (both from ANZ's page), and have the policy number ready. If you have an adviser, talk to them too.
If you want to look beyond ANZ
Unlike ANZ's page, Momentum publishes its limits. Quick Life accepts ages 18 to 65 with no health questions and starts at $50,000 to $300,000 of cover; pre-existing conditions and suicide are excluded for the first 2 years, and premiums step up each year until 75. Funeral Insurance accepts ages 40 to 75; for the first 24 months it pays only for accidental death, and total premiums can add up to more than the benefit. Neither product takes new applicants over 75. Momentum Life Limited holds an A.M. Best rating of B (Fair) (financial strength page).
Frequently asked questions
Is ANZ life insurance underwritten by ANZ?
No. ANZ's page says its insurance is underwritten by third party insurers, and the life partner is Chubb Life.
Who do I call to make a claim?
Chubb Life, on 0800 658 585.
Is Chubb Life the same as Chubb Insurance?
No. Chubb Life Insurance New Zealand Limited is the life insurer. Chubb Insurance New Zealand Limited is a separate general insurer.
Can I still buy ANZ Life & Living?
No. ANZ no longer offers it to new customers.
QuoteHub is a Momentum Life partner, and advice is provided by Craig Smith Business Services Limited, trading as Smiths Insurance & KiwiSaver, a licensed Financial Advice Provider (FSP712931). Smiths may receive a commission on Momentum products; see how we are paid. The buttons on this page lead to Momentum's own application. The guaranteed acceptance hub shows the ages each product accepts.
References
- ANZ: Life insurance, retrieved 20 October 2026
- Chubb Life: Financial strength, retrieved 20 October 2026
- Chubb Life: Cigna is now Chubb Life customer letter (March 2023), retrieved 20 October 2026
- Chubb: Completes acquisition of Cigna's life business in Asia-Pacific (1 July 2022), retrieved 20 October 2026
- Chubb Life: Essential underwriting guide (May 2025), retrieved 20 October 2026
- ASB and AIA, retrieved 20 October 2026
- BNZ: Life insurance, retrieved 20 October 2026
- Kiwibank: Life insurance, retrieved 20 October 2026
- Fidelity Life: Westpac, retrieved 20 October 2026
- Financial Markets Authority: Insurance advice, retrieved 20 October 2026
- Momentum Life: Financial strength, retrieved 20 October 2026
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