Written by · Reviewed by Smiths Insurance & KiwiSaver — licensed Financial Advice Provider (FSP712931) · Last updated 2026-10-20

Buying life insurance online in New Zealand

You can buy life insurance online in New Zealand, but "online" covers different products. Momentum's Quick Life accepts ages 18 to 65 with no health questions, from $50,000 to $300,000. AIA Essentials is an online application with a cap of $1,000,000 and approval at the insurer's discretion. Fully underwritten cover through an adviser has higher limits and a full health assessment.

In short

What "online" can mean

Direct online life insurance is cover you apply for yourself on the insurer's website, without a person advising you on whether it suits you. Momentum Life is a licensed Financial Advice Provider whose advice covers only its own products (Momentum). Buying through Momentum's online application is a purchase from Momentum, not a comparison of the market. Three routes use the word online:

  1. Guaranteed acceptance. Quick Life's wording says a New Zealand resident aged 18 to 65 is "automatically accepted – no health questions or medical exams needed", subject to the residency rules and other terms in the wording. The limits sit inside the policy instead.
  2. An online application with questions. AIA Essentials is described as "life insurance cover you can buy online fast". AIA also says cover is "subject to your application being approved" and that "all applications are subject to individual consideration".
  3. An online quote that leads to an adviser. Chubb Life offers an online quote tool, but its Life Cover page says "you'll need the help of a qualified Insurance Adviser" to choose the right cover.

How the routes compare

Compared: Momentum Life, AIA and Chubb Life, on the criteria in the table, as at 20 October 2026, from each insurer's own pages and wordings. Not every New Zealand insurer is included. This is one adviser's reading, not a score.

Guaranteed acceptance (Quick Life) Online application (AIA Essentials) Advised, underwritten (AIA Living, Chubb)
Ages 18 to 65 16 to 70 AIA Living 10 to 70; Chubb 10 to 70
Amount $50,000 to $300,000, rising 3% a year to a $500,000 cap $50,000 to $1,000,000 at 16 to 60; to $500,000 at 61 to 70 AIA Living unlimited; Chubb no maximum from age 16
Health questions None The insurer assesses the application; conditions, exclusions or loadings may apply Full application; records and tests can be requested
Early restrictions First 2 years: pre-existing conditions and suicide excluded See the wording Set at underwriting: for a condition an insurer may add a stand-down, raise the premium or exclude it
Premium pattern Stepped to 75, then fixed See the wording Stepped or level, depending on the insurer

Sources: Momentum Quick Life wording; AIA life insurance; Chubb Assurance Extra brochure; Asteron. Quick Life also never covers deaths from alcohol or drug effects, war, terrorism, criminal activity, or a dangerous job or pastime listed in the wording. Occupation and pastime are not asked at application; they matter at claim time.

What an adviser adds, and what it costs

The FMA says an insurance adviser asks questions to help work out which option suits you, can tell you how an insurer underwrites a pre-existing condition and whether you might wait for cover or pay extra, and must prioritise your interests (FMA). Most advisers are paid commission from the insurer, built into the premium, and must disclose how much. The FMA also says that even when you buy online, for example through a comparison website, the business running the site may receive commission. QuoteHub is a Momentum Life partner, and Smiths Insurance & KiwiSaver may receive a commission if you buy through our link; see how we are paid and how insurance advisers get paid.

Disclosure applies online too

IFSO says you must tell your insurer your medical history, and that "the current law does not make a distinction between intentional and unintentional non-disclosure": if you leave something out even by accident, the insurer can treat the policy as if it did not exist (IFSO). Insurers check your medical history when you claim. Quick Life asks no health questions, yet its wording says information that is incorrect, incomplete or misleading can lead to a declined claim, a reduced benefit or cancellation, and that a true age over 65 at the start voids the policy with premiums refunded.

From 15 November 2027 (not yet in force) the Contracts of Insurance Act 2024 replaces that with a duty to take reasonable care not to make a misrepresentation, and treats what you tell an intermediary who arranges the contract and is paid by or for the insurer as told to the insurer (legislation.govt.nz). Until then, answer completely. See insurance non-disclosure in NZ.

Your time to change your mind

Momentum's Quick Life has a 30-day free look from the policy start date, with a full refund if no claim has been made, and its Funeral Insurance has 30 days from the acceptance date. AIA allows a refund if you return the policy within 15 days of receiving the document and nothing has been claimed. We could not read other insurers' periods in their public documents, so check the schedule. If you are replacing cover, the FMA says to keep the old policy running until the new one starts, and IFSO warns that a new insurer takes your full medical history into account (IFSO).

A checklist before you click buy

  1. Is the amount enough? Quick Life starts at a $300,000 maximum, which may fall short of a mortgage plus income needs; see how much life insurance you need.
  2. Do you have a health condition? Guaranteed acceptance does not make a pre-existing condition covered in the first 2 years.
  3. Have you read the exclusions, not only the benefit list?
  4. Is the premium stepped or level? Read stepped versus level premiums and use the Premium Index for dated ranges.
  5. Could an adviser compare other insurers for you first? Start with how to compare insurance quotes.

Where Momentum fits

Quick Life suits people who want cover in place without health questions, accepting the first-2-years limit and the lower ceiling. Momentum's Funeral Insurance (ages 40 to 75, $3,000 to $30,000) pays only for accidental death in its first 24 months, refunds premiums for any other death in that window, and its total premiums can exceed the benefit. Momentum Life Limited has an A.M. Best financial strength rating of B (Fair), affirmed on 11 February 2026, which Momentum's own table places in the "Vulnerable" range; the rating is not a recommendation. Details are on Momentum's financial strength page and in our Quick Life guide. The buttons on this page open Momentum's own application. The guaranteed acceptance eligibility checker tests entry ages.

Frequently asked questions

Can I buy fully underwritten life insurance online?

AIA Essentials is an online application with an approval step, and its cover tops out at $1,000,000. For higher amounts and broader benefit choices, the major insurers' underwritten covers are arranged through an adviser.

Is online life insurance cheaper?

We found no source that says so. Prices depend on age, smoking, health and the insurer. Quick Life's wording says premiums use age, gender, smoking status and benefit amount.

Is a policy bought online the same as an advised one?

Not necessarily. Wordings, limits and benefits differ between products, so compare the policy documents, not only the price.

Financial advice is provided by Craig Smith Business Services Limited, trading as Smiths Insurance & KiwiSaver, a licensed Financial Advice Provider (FSP712931). This page is general information, not advice. QuoteHub is a Momentum Life partner, and Smiths Insurance & KiwiSaver may receive a commission if you buy through our link; see our disclosure and how we are paid. Written by the QuoteHub Editorial Team from the sources below; last reviewed 20 October 2026.

References

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