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

Chubb LifeOne: legacy policy guidance

Chubb LifeOne is a lump-sum life insurance policy that Chubb lists on its New Zealand website for existing policyholders. Chubb Life Insurance New Zealand Limited is the former Cigna Life Insurance New Zealand, which Chubb bought on 1 July 2022. We found no sign that LifeOne is on sale to new applicants. Your policy schedule, not this page, sets your terms.

In short

What is Chubb LifeOne?

LifeOne is a lump-sum life insurance policy. Chubb describes it as cover that "can help cover your mortgage, other outstanding debt, funeral costs and more" and says it "can be tailored to suit your needs" (Chubb: LifeOne, retrieved 20 October 2026). The page does not say who it is for, what ages it accepted, or whether it can still be bought.

Here is what we can say about the company behind it. Chubb completed its purchase of Cigna's Asia-Pacific life and accident businesses, including New Zealand, on 1 July 2022 (Chubb). Cigna Life Insurance New Zealand Limited then renamed itself Chubb Life Insurance New Zealand Limited, and Chubb's FAQ says "all Chubb Life policies stay the same without any changes to the current terms and conditions" (Chubb Life FAQs, retrieved 20 October 2026). Our Cigna to Chubb explainer sets out the name change in full.

A word on the history. We found no source that says which insurer first wrote LifeOne. Some websites describe it as a Sovereign product; we found no Chubb source for that, and Sovereign's closed ranges are serviced by a different insurer, AIA New Zealand (QuoteHub: who holds your old policy). Check the insurer name and policy number on your own schedule rather than relying on a brand name remembered from the sales meeting.

Is LifeOne still sold?

Chubb's page listing its life products names Life & Living Insurance, Income Protection, Assurance Extra, Funeral Cover, Life Cover and Critical Illness Cover. LifeOne is not on that list, and the LifeOne page speaks only about changes for people who already hold a policy (Chubb Life, retrieved 20 October 2026). That is not a statement from Chubb that LifeOne is closed. If you are hoping to buy it, ask Chubb or a licensed adviser, and expect to be pointed to a current product instead.

What can an existing LifeOne policyholder change?

Chubb's page lists these options for existing customers, with the details left to the wording:

Change What Chubb's page says
Increase cover With underwriting
Add Critical Illness A Critical Illness benefit can be added
Non-underwritten increases Including an inflation adjustment and increases for special life events
Decrease cover Available
Reinstate A policy or cover after a lapse, within the timeframes in the policy wording
Change the policy Available; contact Chubb

Underwriting means Chubb asks health questions again and may add loadings or exclusions. The usual rule is to answer fully, because a policy built on incomplete answers may not pay (IFSO). If you want to compare an increase with a fresh policy elsewhere, read switching life insurance first, and keep the old policy running until any new one is in force (FMA).

Premiums and the inflation question

Chubb's LifeOne page says nothing about whether premiums are stepped or level, or how often they are reviewed. Your schedule states the structure. The Financial Markets Authority notes that most premiums rise each year with age or inflation, and that cover which is cheaper at first can cost more over time (FMA). For how the two structures differ, see stepped versus level premiums.

Inflation adjustments deserve a closer look. In January 2023 the Wellington High Court ordered Cigna to pay a $3,575,000 penalty for misleading statements about inflation-linked increases applied to 52,363 policies between 2014 and 2019 (FMA, retrieved 17 September 2026). Cigna had repaid over $10.7 million, including interest, by then. That case does not say your policy was affected, and it does not name LifeOne. It is a reason to check how your sum insured and premium have moved. Our indexation guide explains the mechanics.

A checklist for your LifeOne schedule

Chubb's public pages are thin on LifeOne, so the schedule and wording are the source of truth. Work down this list. If you cannot find an answer, that is a question for Chubb.

What to find Why it matters
Insurer name and policy number Shows which insurer is named: Chubb Life Insurance New Zealand Limited, or Cigna Life Insurance New Zealand Limited on an older document
Sum insured today Shows whether inflation adjustments have lifted it, and what you now pay for it
Inflation adjustment Chubb's page names it as a non-underwritten increase; check whether you accepted or declined each one
Critical Illness benefit The only add-on Chubb's page names; check whether you hold it and what it pays
Any other benefit listed Chubb does not publish riders for LifeOne online, so read the names and definitions in the wording
Special terms, loadings, exclusions Added at underwriting; they stay unless Chubb removes them
Premium structure and next change Stepped or level, and the date of the next premium letter
Owner and beneficiary Check that the named beneficiary is still the person you want paid
How you pay Bank account and card details need updating when they change

Take the schedule, the wording and your latest premium letter into one sitting. A licensed adviser can read them with you and tell you whether the cover still matches your debts and dependants.

How to claim on LifeOne

Chubb's claims page says to call 0800 224 623 for LifeOne, Funeral, Bill or Income Cover claims. The page's call button links to a slightly different number, so confirm the number on Chubb's claims page before you ring. Chubb will send a claim form, which you can submit yourself, through your adviser or with help over the phone. It aims to begin assessing a claim within five working days of receiving it (retrieved 20 October 2026).

For other policy questions, Chubb lists 0508 464 999 if the policy was set up through an adviser and 0800 900 047 if it was set up online or by phone, with the Chubb Life team available 8am to 6pm Monday to Friday, closed on public holidays (Chubb Life contact, retrieved 20 October 2026). If a complaint is not resolved, the Insurance & Financial Services Ombudsman (IFSO) Scheme is the free external service, on 0800 888 202.

If you want new cover instead

Because we found no sign that LifeOne is on sale, a first-time buyer should look at current products instead. Momentum Life's Quick Life, issued by Momentum Life Limited, accepts New Zealanders aged 18 to 65 with no health questions and pays $50,000 to $300,000, but for the first two years it excludes pre-existing conditions and suicide (Quick Life wording). A healthy person can often get more cover for less with underwritten cover through an adviser. Momentum's A.M. Best rating is B (Fair); see its financial strength page and our Quick Life page.

For funeral money specifically, Chubb sells its own Funeral Cover (ages 50 to 80, accident-only for the first 24 months with premiums refunded for another cause) and Momentum's Funeral Insurance takes ages 40 to 75, also with a 24-month accident-only window. With either, total premiums can add up to more than the benefit, and the benefit may not cover the whole funeral. See the funeral insurance hub and the guaranteed acceptance hub. The buttons on this page go to Momentum Life's own application.

Advice is provided by Craig Smith Business Services Limited, trading as Smiths Insurance & KiwiSaver, a licensed Financial Advice Provider (FSP712931). QuoteHub is a Momentum Life partner, and Smiths Insurance & KiwiSaver may receive a commission on Momentum products; see how we are paid.

Frequently asked questions

Is Chubb LifeOne still available?

Chubb's list of current life products does not include LifeOne, and its LifeOne page speaks to existing policyholders. We found no statement either way on new applications, so ask Chubb.

Who owns LifeOne now?

Chubb's LifeOne page quotes Chubb Life's rating and sends claims to Chubb Life, which is the former Cigna Life Insurance New Zealand (bought by Chubb on 1 July 2022). Which company wrote your policy first is on your schedule.

Did my terms change when Cigna Life became Chubb Life?

Chubb's FAQ says its Chubb Life policies stay the same, without changes to the current terms and conditions. The FAQ does not mention LifeOne by name, so check your own wording. Statements now show the Chubb Life name, and manual payment details may have needed updating (Chubb Life FAQs).

What is Chubb Life's financial strength rating?

Chubb Life holds an A (Excellent) financial strength rating from A.M. Best, as Chubb publishes it. The S&P grade you may see for Chubb belongs to Chubb Insurance New Zealand Limited, the general insurer, not to Chubb Life (Chubb).

References

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