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Chubb Life NZ

Reviewed by Henry Smith, Financial Adviser (FSP1010699). Updated 17 September 2026.

Writes the adviser suite Assurance Extra, and underwrites the Life & Living policies Southern Cross sells under its own name. One insurer, two front doors.

QuoteHub’s read

Chubb Life is rated A (Excellent) by A.M. Best and runs two front doors: the adviser suite Assurance Extra, and the Life & Living range it also underwrites for Southern Cross under that name; the wording named on your quote decides which of the two you hold.

Who underwrites it
Chubb Life Insurance New Zealand Limited
Who owns it
Chubb Group
Financial strength
A (Excellent) (A.M. Best) source
How you can buy
Adviser or direct

Every fact here is linked to the document it came from, with the date we read it.

Free, no obligation, and the same price as going direct. A licensed adviser puts Chubb Life next to the rest of the panel on your own details.

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Writes the adviser suite Assurance Extra, and underwrites the Life & Living policies Southern Cross sells under its own name. One insurer, two front doors.

Chubb Life at a glance

Key facts about Chubb Life
Licensed entityChubb Life Insurance New Zealand Limited
OwnerChubb Group
What they writeLife cover, Trauma cover, Income cover, TPD, Funeral cover
How you can buyAdviser or direct
FormerlyCigna Life Insurance New Zealand Ltd; absorbed OnePath Life Ltd
Financial strengthA (Excellent) (A.M. Best) (source, read 14 Aug 2026)
Rating as atDate not published
On the QuoteHub panelYes, we can place cover with them
ComplaintsFinancial Dispute Resolution Service, free for consumers

Chubb Life reviewed

Reviewed and updated 17 September 2026 by Henry Smith, Financial Adviser (FSP1010699), for the QuoteHub adviser team. The tables above are register records; this section is our read of them.

Verdict (2026)

Chubb Life is the rare New Zealand life insurer you can buy either way. The online Life and Living range handles simple cover without an appointment, and the adviser-built Assurance Extra range assembles nine covers under one master policy. It also owns the strongest guaranteed-acceptance funeral offer for people aged 50 to 80. It does not sell private medical cover, its published claims percentages come without denominators, and its A rating is not the highest on the register. Check which Chubb entity any rating belongs to before you rely on it.

Pros and cons

Pros Cons
Sells both online and through advisers, unlike most NZ life insurers The two ranges are structured differently, so "compare Chubb" means little without naming the range
Assurance Extra assembles nine covers under one master policy Entry and expiry ages for both ranges are not published publicly
Income Cover runs to 75% of income, capped at $30,000 a month, with terms to age 70 The to-age-70 term is limited to occupation classes 1 and 2
Guaranteed-acceptance Funeral Cover for ages 50 to 80, with no medical questions Funeral Cover pays for non-accidental death only after 24 months
Reported paying 96% of claims in 2024 and 95% in 2025 Neither percentage is published with a claim-count denominator
A (Excellent) from A.M. Best on the RBNZ register No private medical insurance anywhere in the NZ range

A telescope on a tripod stands on a rooftop, aimed across at a plain multi-storey office block

Read the full reviewThe two-Chubb trap: check which company you are reading about · Claims record and claims process · Exclusions and things to note · Where Chubb Life sits with QuoteHub · Limitations of this review · References

The two-Chubb trap: check which company you are reading about

Two separate licensed insurers trade in New Zealand under the Chubb name. They carry different ratings from different agencies. Confusing them is the single most common error in Chubb write-ups, including some on comparison sites. Before you rely on any "Chubb rating", check which entity it belongs to.

Chubb Life Insurance New Zealand Limited Chubb Insurance New Zealand Limited
What it sells Life, trauma, income protection and funeral cover, the subject of this review General insurance: property and casualty, group personal accident, business travel, and the Masterpiece home and contents policy
Financial strength rating A (Excellent), A.M. Best, also on Chubb Life's own disclosure (read 14 Aug 2026) AA-, S&P Global Ratings, stated on Chubb's NZ general insurance page (read 14 Aug 2026)
Industry membership Not an ICNZ member, per ICNZ's member list The Chubb entity that belongs to the Insurance Council of New Zealand
Covered by this review Yes No

The AA- you may see quoted for "Chubb" in New Zealand belongs to the general insurer, Chubb Insurance New Zealand Limited, read 14 August 2026. It does not apply to any life, trauma, income protection or funeral policy. The rating that governs those policies is Chubb Life's own A (Excellent) from A.M. Best, on Chubb Life's disclosure.

Claims record and claims process

Chubb Life publishes headline claims data. It reported paying 96% of claims in 2024, and states on its life insurance page that it paid 95% of claims in 2025. Sources: Chubb Life 2024 claims statistics and the Chubb Life NZ page, both read 14 August 2026.

Its adviser-facing statistics break claims down by cover type, condition, age and gender. For 2024 it reported that under Life Cover the leading causes were cancer at 46%, heart conditions at 13% and other organs at 12%. The public pages we read do not state the claim-count denominators, so those percentages cannot be compared precisely against another insurer's.

Claims do not have to go through an adviser. You can phone the claims team on 0508 464 999, start online, email the claims team, or go through your adviser. Chubb says it aims to begin assessing a claim within five working days. A separate line, 0800 224 623, handles LifeOne, Funeral, Bill and Income Cover claims. Source: Chubb Life claims page, read 14 August 2026.

General insurance claims go to Chubb's general insurance team, not to Chubb Life. Claims under Southern Cross-branded life policies are decided by Chubb Life.

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Exclusions and things to note

Every point below comes from a named Chubb Life page or brochure, with the date we read it. The policy wording governs any claim, not this page.

  • Funeral Cover pays for non-accidental death only after 24 months. Accidental death is covered immediately. Die of a non-accidental cause inside the first 24 months and Chubb refunds 100% of premiums paid rather than the sum insured. Source: Funeral Cover page, read 14 August 2026.
  • Trauma Cover carries a 90-day stand-down on several conditions, including cancer, heart attack and stroke. Source: Assurance Extra Trauma Cover brochure, read 14 August 2026.
  • Partial and Diagnosis trauma benefits reduce your remaining cover. Each pays 25% of the trauma sum insured, capped at $75,000, and the amount paid comes off the balance. Source: Trauma Cover brochure, read 14 August 2026.
  • Moderate Trauma applies a higher severity threshold on 11 common conditions. It is cheaper for that reason. Source: Trauma Cover brochure, read 14 August 2026.
  • Income Cover above $30,000 a month is case by case and limited to a two-year payment term. The to-age-70 payment term is open only to occupation classes 1 and 2. Source: Income Cover brochure, read 14 August 2026.
  • Redundancy Cover cannot be bought on its own. It is available only alongside Income Cover or Mortgage Repayment Cover, and pays for up to six months. Source: Assurance Extra page, read 14 August 2026.
  • The 15% Lifetime Reward is conditional and time-limited. It runs until 28 February 2027 and requires a non-smoker with a BMI between 18.5 and 26.99 at the time cover starts. Source: Life and Living page, read 14 August 2026.
  • There is no private medical insurance in the New Zealand range, and entry-age ranges for the Life and Living and Assurance Extra covers are not published on the public pages we read. Source: Chubb Life NZ, read 14 August 2026.

Where Chubb Life sits with QuoteHub

Chubb Life is one of the insurers on QuoteHub's advice panel. It appears in the list of providers on our disclosure page alongside AIA, Partners Life, Fidelity Life, Asteron Life, Momentum Life, nib and Southern Cross. Financial advice is provided by Craig Smith Business Services Limited, trading as Smiths Insurance & KiwiSaver, a licensed Financial Advice Provider (FSP712931). QuoteHub is a trading name. Henry Smith is a Financial Adviser (FSP1010699). Details of how our advisers are paid are on the disclosure page.

That relationship means QuoteHub advisers can arrange Chubb Life cover. It does not change anything in this review, which is built from Chubb Life's own documents, the Reserve Bank's register and A.M. Best's published rating action.

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Limitations of this review

This review is built only from public documents. It states no premium figures, because pricing depends on your age, health, occupation, smoking status and cover structure. Two gaps are recorded rather than guessed: the effective date of A.M. Best's most recent affirmation, which is not publicly verifiable without an agency login, and the entry-age ranges for the Life and Living and Assurance Extra covers. Features, limits and offers were current at the dates shown and change without notice. The policy wording, not this page, governs any claim. Ratings were last re-verified against the RBNZ register and Chubb Life's own disclosure, and QuoteHub re-verifies published ratings quarterly.

References

Disclaimer: This article is general information only and does not constitute personalised financial advice. Financial advice is provided by Craig Smith Business Services Limited, trading as Smiths Insurance & KiwiSaver, a licensed Financial Advice Provider (FSP712931). QuoteHub is a trading name. Insurance products are subject to underwriting, and terms, conditions, exclusions and stand-down periods apply. Features, limits and offers were current at the dates above and are subject to change, so always check the current policy wording. For advice tailored to your circumstances, talk to a licensed financial adviser.

What Chubb Life writes

https://www.chubb.com/nz-en/
The front page of Chubb Life's own website as it appeared on 16 September 2026
Chubb Life’s own website as it appeared on 16 September 2026. Anything time-limited on it, including any promotion, may have ended since. Visit www.chubb.com/nz-en

  • Life cover

    A lump sum to the people you name, paid on death or a terminal diagnosis.

  • Trauma cover

    A lump sum on the diagnosis of a listed condition, paid whether or not you stop work.

  • Income cover

    A monthly benefit while illness or injury stops you earning, after a waiting period.

  • TPD

    A lump sum if you are unlikely ever to work again, on a definition set by the wording.

  • Funeral cover

    A small lump sum intended to meet funeral costs, often guaranteed acceptance.

Is Chubb Life a fit for you?

The reasons to shortlist it, and the catches to check first. Every line below is read from a Chubb Life document, linked with the date.

Check these before you choose

  • Trauma: 90 days

    No claim is payable where the condition appears within 90 days of Chubb receiving the application, for the conditions the brochure marks.

    source, Assurance Extra Trauma Cover brochure, CIG0019 v6, read 16 September 2026

  • Partial benefits reduce cover

    A partial benefit pays 25% of the Trauma Cover sum insured, capped at $75,000, for the less severe conditions listed.

    source, Assurance Extra Trauma Cover brochure, CIG0019 v6, read 16 September 2026

  • To age 70 is restricted

    The to-age-70 income payment term is only available for occupation classes 1 and 2. Entry age for income cover is 16 to 55, or to 60 for classes 1 and 2.

    source, Assurance Extra Income Cover brochure, CIG0007 v5, read 16 September 2026

  • Mental illness: 24 months

    If the lower-premium restriction is chosen, income payments for a claim caused by a mental illness are limited to 24 months.

    source, Assurance Extra Income Cover brochure, CIG0007 v5, read 16 September 2026

Chubb could fit

If one or more of these look like your situation.

  • Simple cover online

    The Life & Living range is sold direct, and Southern Cross sells it under its own name. One insurer, two front doors.

    source, Assurance Extra Life Cover and Life Income Cover page, read 16 September 2026

  • Higher income-cover limits

    Income cover pays up to 75% of income to a maximum of $30,000 a month, with four cover types to choose between.

    source, Assurance Extra Income Cover brochure, CIG0007 v5, read 16 September 2026

  • Premiums you can hold level

    Trauma cover premiums can be held level for 5 years, 10 years, or to age 65, 70 or 75, instead of stepping up each year.

    source, Assurance Extra Trauma Cover brochure, CIG0019 v6, read 16 September 2026

  • Cover that grows with life

    The Life Events Benefit lets you increase life or trauma cover by up to $250,000 after a marriage, a child, a mortgage or a pay rise, without a new health assessment.

    source, Assurance Extra Life Cover and Life Income Cover page, read 16 September 2026

Compare more carefully

If any of these apply, it is worth a closer look at the rest of the panel.

  • You need private medical cover

    Chubb Life writes life, trauma, income, TPD and funeral cover. Health insurance is not in the range, so a medical policy comes from elsewhere.

    source, Assurance Extra Life Cover and Life Income Cover page, read 16 September 2026

  • Financial strength is your top filter

    Chubb Life Insurance New Zealand Limited holds A (Excellent) from A.M. Best. The table on this page puts every insurer we compare on the same line, with the agency and the date.

    source, Reserve Bank register of licensed insurers, read 15 August 2026

  • Hazardous or manual work

    Income cover to age 70 is closed to occupation classes 3 to 5, and the entry age is lower. A licensed adviser confirms your class before you apply.

    source, Assurance Extra Income Cover brochure, CIG0007 v5, read 16 September 2026

  • A complex health history

    An existing condition is excluded, loaded or accepted at underwriting on your own history, and a trauma stand-down applies to listed conditions. The wording decides, not the brochure.

    source, Assurance Extra Trauma Cover brochure, CIG0019 v6, read 16 September 2026

Which sounds more like you decides the next step, not the brand. A licensed adviser can put Chubb Life next to the rest of the panel on your own details. Compare Chubb Life with the panel.

Waiting periods, limits and ages

The numbers worth checking before you compare, read from Chubb Life’s own documents.

Income cover

75% of income

Up to $30,000 a month. Cover above that is considered individually and limited to a two-year payment term.

Waiting period options

  1. 4 weeks
  2. 8 weeks
  3. 13 weeks
  4. 26 weeks
  5. 52 weeks
  6. 104 weeks
  • Four cover types: Agreed Value, Indemnity, Loss of Earnings, Loss of Earnings Ultra
  • Payment terms: 2 years, 5 years, to age 65, or to age 70
  • Entry age 16 to 55, or to 60 for occupation classes 1 and 2
  • Waiting period waived if the same disability returns within 12 months

NoteThe to-age-70 payment term is only available for occupation classes 1 and 2.

source, Assurance Extra Income Cover brochure, CIG0007 v5, read 16 September 2026

Life cover

12 months

The terminal illness definition: a condition likely to result in death within the next 12 months brings the payment forward.

  • $25,000 Bereavement Support Benefit, paid early to cover funeral expenses
  • $20,000 Funeral Transfer Benefit to return remains to New Zealand or a home country
  • $250,000 Life Events Benefit increase without a new health assessment
  • Advance Terminal Illness Benefit: an early partial payment for listed conditions

source, Assurance Extra Life Cover and Life Income Cover page, read 16 September 2026

Trauma cover

90 days

The stand-down. No claim where the condition shows within 90 days of the application, for the conditions the brochure marks.

  • Partial Benefit: 25% of the sum insured, capped at $75,000, for listed less-severe conditions
  • Diagnosis Benefit: an early 25%, capped at $75,000, for specific conditions
  • Complimentary children’s trauma cover up to $50,000, ages 3 months to 23 years
  • Premiums can be held level for 5 years, 10 years, or to age 65, 70 or 75

source, Assurance Extra Trauma Cover brochure, CIG0019 v6, read 16 September 2026

Limits and definitions are the comparable part of a policy. A licensed adviser can put Chubb Life’s next to the rest of the panel.

What it costs

As of 8 September 2026monthly cost, from the insurers’ rate cards

$500,000 life cover, male, non-smoker, monthly cost by age
AgeTypical monthly cost
25$40 to $50
30$30 to $40
35$30 to $40
40$40 to $50
45$50 to $70
50$90 to $120
55$170 to $200
60$300 to $375
65$625 to $725
$500,000 life cover, female, non-smoker, monthly cost by age
AgeTypical monthly cost
25$20 to $30
30$20 to $30
35$25 to $35
40$35 to $40
45$50 to $60
50$80 to $100
55$130 to $160
60$225 to $275
65$400 to $475
The QuoteHub Premium Index, September 2026. Indicative monthly premium, sourced from insurers' published rate cards, as at 8 September 2026. Stepped, occupation class 1, standard rates, no loadings or exclusions. Your own premium depends on underwriting. Full method: methodology. Rate cards: AIA, Asteron Life, Chubb Life, Fidelity Life, Momentum Life, Partners Life.

As of 8 September 2026monthly cost, from the insurers’ rate cards

$100,000 trauma cover, male, non-smoker, monthly cost by age
AgeTypical monthly cost
25$15 to $30
30$20 to $30
35$20 to $35
40$35 to $50
45$60 to $80
50$110 to $130
55$190 to $225
60$300 to $375
65$575 to $625
$100,000 trauma cover, female, non-smoker, monthly cost by age
AgeTypical monthly cost
25$20 to $25
30$20 to $30
35$20 to $35
40$35 to $50
45$50 to $80
50$70 to $100
55$110 to $150
60$160 to $225
65$325 to $400
The QuoteHub Premium Index, September 2026. Indicative monthly premium, sourced from insurers' published rate cards, as at 8 September 2026. Stepped, occupation class 1, standard rates, no loadings or exclusions. Your own premium depends on underwriting. Full method: methodology. Rate cards: AIA, Asteron Life, Chubb Life, Fidelity Life, Momentum Life, Partners Life.

As of 8 September 2026monthly cost, from the insurers’ rate cards

$250,000 TPD cover, male, non-smoker, monthly cost by age
AgeTypical monthly cost
25about $20
30about $20
35about $15
40$20 to $25
45$25 to $40
50$50 to $80
55$120 to $160
60$275 to $375
$250,000 TPD cover, female, non-smoker, monthly cost by age
AgeTypical monthly cost
25about $15
30about $15
35about $20
40$20 to $30
45$30 to $50
50$60 to $100
55$140 to $180
60$250 to $400
The QuoteHub Premium Index, September 2026. Indicative monthly premium, sourced from insurers' published rate cards, as at 8 September 2026. Stepped, occupation class 1, standard rates, no loadings or exclusions. Your own premium depends on underwriting. Full method: methodology. Rate cards: AIA, Asteron Life, Chubb Life, Fidelity Life, Momentum Life, Partners Life.

Chubb Life plans

Chubb Life plans covered on this site
PlanWhat it is
Assurance ExtraThe adviser-sold suite: life, trauma, income and TPD cover.
Life & LivingThe direct and white-label range. Southern Cross sells it under its own name.

How Chubb Life compares on financial strength

Financial strength is the one comparable published fact about an insurer. Every grade is the insurer’s own disclosure for the named licensed entity, linked and dated. A rating belongs to that entity, not to a brand or a product name.

NoteAgencies use different scales. A letter from one is not interchangeable with the same letter from another.

Financial strength ratings for the insurers QuoteHub compares
InsurerLicensed entityFinancial strengthRating as at
AIA New ZealandAIA New Zealand LimitedAA (Fitch, source, read 14 Aug 2026)Date not published
Asteron LifeAsteron Life LimitedA+ (Fitch, source, read 14 Aug 2026)Date not published
Chubb Life NZChubb Life Insurance New Zealand LimitedA (Excellent) (A.M. Best, source, read 14 Aug 2026)Date not published
Fidelity LifeFidelity Life Assurance Company LimitedA- (A.M. Best, source, read 14 Aug 2026)Date not published
Momentum LifeMomentum Life Limited (FSP472286)B (Fair) (A.M. Best, source, read 14 Aug 2026)11 Feb 2026
Partners LifePartners Life LimitedA (Excellent) (A.M. Best, source, read 14 Aug 2026)5 Feb 2026

The whole register, every insurer with its legal entity, owner, grade, effective date and source, is a dated dataset you can download: nz-insurer-financial-strength-2026-09-17.csv.

The wording is the contract.

We checked the documents behind the detail. These are Chubb Life’s own documents, each with the date we read it.

Questions about Chubb Life

Start with the question that is holding up your decision.

Cover & cost

8 questions

Who is Chubb Life?

Writes the adviser suite Assurance Extra, and underwrites the Life & Living policies Southern Cross sells under its own name. One insurer, two front doors. The licensed entity behind the policies is Chubb Life Insurance New Zealand Limited.

Who owns Chubb Life?

Chubb Group. Ownership matters because it decides who carries the risk behind a claim, not how a claim is assessed.

Is Chubb Life financially strong?

Chubb Life Insurance New Zealand Limited holds a A (Excellent) rating from A.M. Best, read from the insurer's own disclosure on 14 Aug 2026. A rating is an independent view of the ability to pay claims. It says nothing about what a policy covers or what it costs.

What does Chubb Life cover?

Life cover, Trauma cover, Income cover, TPD, Funeral cover. What each of those pays, and what it excludes, is set by the policy wording rather than by the marketing page, which is why the documents are listed on this page with the date we read them.

Is Chubb Life the cheapest?

No insurer is cheapest for everyone. Price depends on your age, your health and an underwriting decision that has not happened yet, so a comparison that leads with price compares the wrong thing. The published limits and definitions are what can be compared, and they are on this page.

How does Chubb Life compare with the other insurers?

The financial strength table on this page puts every insurer we compare side by side, with the agency, the grade and the date. The benefit limits sit on the comparison page, and a licensed adviser can run your own details across the panel.

Are Chubb Life premiums stepped or level?

Both structures exist in the New Zealand market. Stepped rises with your age each year and costs less at the start; level holds a rate to a chosen age and costs more early and less later. Which is cheaper over the life of the policy depends on how long you keep it, not on the insurer.

How much does Chubb Life cover cost?

We do not publish a price for an insurer on this page. A premium depends on age, health, smoking status, occupation, the cover amount and an underwriting decision, so a single figure would be wrong for almost everyone reading it.

Buying & switching

6 questions

Can I buy Chubb Life cover without an adviser?

Both routes exist. You can go direct, or use a licensed adviser who can put Chubb Life next to the other insurers on the same set of details.

Does QuoteHub work with Chubb Life?

Yes. Chubb Life is on the QuoteHub panel, so a licensed adviser can quote them, compare them against the rest of the panel and arrange the cover. The full panel is published on the disclosure page rather than implied.

What should I check before applying to Chubb Life?

The stand-down period, the exclusions that apply to your own history, whether the premium is stepped or level, and what happens at renewal. All four are in the wording and none of them is in a price.

What plans does Chubb Life offer?

Assurance Extra, Life & Living. Each has its own page here setting out what it pays and what it does not.

Can I move to Chubb Life from another insurer?

Yes, but moving means new underwriting, so anything that has happened to your health since you took the old policy is assessed again. Never cancel the old cover until the new policy is issued and you have read what it excludes.

Where can I get advice about Chubb Life?

A licensed financial adviser can compare it against the rest of the panel on your own details and tell you where it suits you and where it does not. QuoteHub is a trading name of a licensed Financial Advice Provider and the review is free.

Claims & regulation

6 questions

Where can I read Chubb Life's policy wording?

We link 5 of Chubb Life's own documents on this page, each with the date it was read. The wording is the contract; a brochure is not.

Does Chubb Life cover pre-existing conditions?

Not automatically. An existing condition is either excluded, loaded or accepted on its own terms, and that decision is made at underwriting on your own history. What matters is what you disclose, because non-disclosure is the most common reason a claim is declined.

Does Chubb Life pay claims quickly?

Claims-paid percentages and payment times are published by some New Zealand insurers and not by others, on different bases, which is why we publish the figure only where the insurer publishes it with a period. Where we hold one it appears on the review page for that insurer.

Is Chubb Life regulated in New Zealand?

Yes. A licensed insurer is regulated by the Reserve Bank of New Zealand, and the advice about a policy is regulated separately by the Financial Markets Authority. Those are two different licences and both matter.

What happens to my Chubb Life policy if the company is sold?

A policy is a contract with the licensed entity, so it continues on its terms if ownership changes. New Zealand has seen several life books change hands, and the practical effect for existing policyholders is usually the servicing brand rather than the cover.

How do I make a complaint about Chubb Life?

Raise it with the insurer first. If it is not resolved you can take it to the insurer's dispute resolution scheme at no cost. QuoteHub's own scheme is the Financial Dispute Resolution Service.

Still weighing up Chubb Life?

Compare Chubb’s cover, price and policy terms against the other insurers on our panel, on your own details.

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Where to go next

Financial advice is provided by Craig Smith Business Services Limited, trading as Smiths Insurance & KiwiSaver, a licensed Financial Advice Provider (FSP712931). QuoteHub is a trading name. QuoteHub is not owned by any insurer and this page is not a recommendation. Updated 8 September 2026