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

Is Chubb Life insurance good? An honest review

Whether Chubb Life is good depends on what you test. Chubb Life Insurance New Zealand Limited holds an A (Excellent) financial strength rating from A.M. Best, sells fully underwritten life, trauma and income cover through advisers and online, and says it paid 95 per cent of claims in 2025. What no source lets us say is that customers are "broadly happy": we found no NZ review data for Chubb Life, and global Chubb reviews mostly describe other companies.

In short

This is the short verdict. For head-to-head comparisons see Chubb Life versus Partners Life and AIA versus Chubb Life.

Test 1: Which Chubb are you reading about?

In New Zealand two licensed insurers carry the Chubb name. Chubb Life Insurance New Zealand Limited sells life, trauma, income protection and funeral cover. Chubb Insurance New Zealand Limited is the general insurer, and its S&P Global AA- must never be attached to Chubb Life. Chubb Life was Cigna Life Insurance New Zealand until Chubb completed its purchase of Cigna's Asia-Pacific life and accident businesses, including New Zealand, on 1 July 2022 (Chubb press release). Southern Cross Life Insurance and Life & Living are "underwritten and administered by Chubb Life Insurance New Zealand Limited", which is "responsible for all claims" (Southern Cross Life: legal disclosure). If your policy used to say Cigna, read what happened to Cigna Life Insurance NZ.

So a one-star review of a Chubb travel claim in another country says nothing about a New Zealand life policy, and a five-star review of a Chubb home policy says nothing either. We have not counted or averaged any star ratings, because none can be tied to Chubb Life NZ policyholders.

Test 2: Financial strength

An A.M. Best Financial Strength Rating is "an independent opinion of an insurer's financial strength and ability to meet its ongoing insurance policy and contract obligations"; it is not a recommendation to buy a policy (A.M. Best guide). On its scale A is "Excellent" and B is "Fair". Chubb Life is A (Excellent); Momentum Life is B (Fair), affirmed 11 February 2026, which Momentum's own table groups in its "Vulnerable" range (Momentum: Financial strength). Both letters come from the same agency, so they can be compared. Neither is comparable with a Fitch or S&P letter.

Chubb Life also publishes a solvency position: an adjusted solvency margin of $78.5 million at 30 June 2026, with the ratio shown only in an image. Insurers differ in size by up to 100 times, so we do not rank on ratios. See insurer financial strength for the register.

Test 3: Do the products fit?

Need Chubb Life Verdict on fit
Life, critical illness, income cover with health assessment Life & Living (online) and Assurance Extra (adviser-built); Life Cover on Life & Living up to $1.5 million Fits healthy people comfortable with underwriting
No health questions, small funeral benefit Funeral Cover, ages 50 to 80, up to $30,000, guaranteed acceptance Accidental death only for the first 24 months; premiums refunded in full for another cause in that time
Private medical or health insurance None listed on Chubb Life's pages Look at a health specialist
Guaranteed life cover for ages 18 to 65 None found (Funeral Cover is its only guaranteed product we read) See Momentum's Quick Life below

The Funeral Cover wording says "the total premiums you pay may exceed the benefit we pay" (Chubb Funeral Cover wording). The benefit may also not meet the whole funeral. Chubb's page lists premiums stopping at claim, at 90, or on entering long-term care (Chubb: Funeral cover).

Test 4: Claims

Chubb Life's life insurance page says "95% of claims paid in 2025", based on claims paid in all channels (Chubb Life NZ, retrieved 20 October 2026), and its 2024 adviser statistics give 96 per cent. Neither publishes a claim-count denominator. A percentage can count declined, withdrawn or still-open claims differently, so placing 95 per cent beside another insurer's 97 or 93 per cent produces a false league table. What can be read is the process: Chubb's claims page says it aims to begin assessing a claim within five working days, and the funeral page says it "usually" pays within 48 hours of claim approval. Approval starts that clock, not the death.

Test 5: What if something goes wrong?

Anyone offering retail financial services must belong to an approved dispute resolution scheme, and you complain to the provider first (FMA: Disputes and consumer protection). Chubb's Funeral Cover wording names the Insurance and Financial Services Ombudsman (IFSO) for disputes; for other products, check the policy documents or the IFSO participant search. IFSO is free for consumers. Its published case studies that we read do not name the insurer, so they cannot be used to rank Chubb either way. We found no public Chubb Life complaint statistics and publish none.

Chubb Life next to a no-health-questions option

For a healthy person, fully underwritten cover through an adviser can usually buy more cover for less. Guaranteed acceptance exists for people who would be declined or heavily loaded, or who want cover in place without questions. Momentum Life's Quick Life is the guaranteed-acceptance life option on this site.

Chubb Life, underwritten life cover Momentum Life, Quick Life
Health questions Yes None
Entry ages Assurance Extra Life Cover 10 to 70 18 to 65
Amount Life & Living up to $1.5 million $50,000 to $300,000, plus 3% a year to a $500,000 cap per life
First two years Terms are set at underwriting; loadings or exclusions can apply to an individual Pre-existing conditions and suicide excluded for 2 years; premiums refunded if a pre-existing-condition death occurs and no claim is payable
A.M. Best rating A (Excellent) B (Fair)

Quick Life premiums are stepped, rising each year until 75 and then fixed, and total premiums may exceed the benefit. For help choosing, read guaranteed acceptance versus full medical, our Chubb quotes guide and Quick Life. The buttons on this page lead to Momentum's own application. QuoteHub is a Momentum Life partner, and Smiths Insurance & KiwiSaver may receive a commission on Momentum products; see how we are paid. Our Chubb Life page has the panel entry.

Frequently asked questions

Is Chubb Life a good insurance company?

On the tests we can source: a published A (Excellent) rating from A.M. Best, a broad underwritten range, and claims percentages without denominators. "Good" for you depends on your health and what you need.

Is Chubb Life the same as Chubb Insurance New Zealand?

No. They are separate licensed insurers. Chubb Insurance New Zealand is the general insurer; Chubb Life sells life, trauma, income and funeral cover.

Who underwrites Southern Cross life insurance?

Chubb Life Insurance New Zealand Limited, which Southern Cross says is responsible for all claims.

Where do I complain about Chubb Life?

Complain to Chubb Life first, then the scheme named in your policy documents. Chubb's Funeral Cover wording names IFSO.

References

Read the full insurance guides

Compare your cover with a licensed NZ adviser · free, no obligation.

Start your free comparison

Compare panel options first. A licensed NZ adviser can then review existing cover or help with an application.

Free, no obligation. Licensed NZ advisers · Craig Smith Business Services Ltd, FAP FSP712931.

Explore related pages: Life Insurance, Income Protection, Health Insurance, Trauma Insurance, Free Will.