Written by · Reviewed by Smiths Insurance & KiwiSaver — licensed Financial Advice Provider (FSP712931) · Last updated 2026-09-17

Cigna Funeral Cover NZ Is Now Chubb Life: What Changed

Cigna Life Insurance New Zealand Limited became Chubb Life Insurance New Zealand Limited after Chubb Limited's US$5.36 billion purchase of Cigna's Asia-Pacific life business completed on 1 July 2022, and any Cigna-branded funeral policy became a Chubb Life policy on unchanged terms. Chubb Life Funeral Cover today is guaranteed acceptance for New Zealand residents aged 50 to 80, up to $30,000, with no medical questions. Full cover for any cause of death applies after 24 months; a non-accidental death inside that window refunds all premiums paid instead of the sum insured. A licensed adviser can set these terms beside Momentum Life's and AA Life's own guaranteed-acceptance funeral products for the same age and cover amount.

In short

Anyone who bought cover from Cigna before 2023 is still covered, just under a different company name. This guide covers what changed in the takeover, today's guaranteed-acceptance terms, and how they compare with Momentum Life and AA Life. For the full six-insurer market, see QuoteHub's funeral insurance comparison.

An older couple at a kitchen table in a New Zealand home compare a worn paper policy folder against a freshly opened envelope, sunlight coming through a window behind them

What Happened to Cigna Funeral Cover in NZ?

Cigna's New Zealand funeral business was sold to Chubb, not closed or moved to a different underwriter with different terms. Chubb Limited completed its purchase of the companies holding Cigna's personal accident, health and life operations across six Asia-Pacific markets, New Zealand included, on 1 July 2022, for US$5.36 billion (Chubb, completion announcement, 1 July 2022). Cigna Life Insurance New Zealand Limited was then renamed Chubb Life Insurance New Zealand Limited; Chubb's March 2023 letter to customers confirmed the rebrand changed no policy's coverage, terms or premiums (Chubb, customer rebrand letter, March 2023). The insurer has been licensed by the Reserve Bank since 12 August 2013 (RBNZ register, retrieved 15 August 2026). Full history: QuoteHub's Chubb Life review.

What Are Chubb Life Funeral Cover's Guaranteed Acceptance Terms Today?

Chubb Life Funeral Cover is guaranteed acceptance for residents aged 50 to 80, up to $30,000, no medical exam.

Term Chubb Life Funeral Cover
Entry ages 50 to 80, NZ residency required
Maximum cover $30,000 per life insured
Non-accidental death, first 24 months Refund of 100% of premiums paid
Full cover for any cause After 24 months
Joint discount 20% with a partner or family member
Cooling-off period 30 days, full refund
Premiums payable until Age 90, or long-term care
Claims turnaround Usually within 48 hours of approval

Source: Chubb Life NZ, Funeral Cover, retrieved 17 September 2026, and its policy document (cig0421 v1). Not a quote; acceptance depends on the published eligibility criteria.

This is the same style of product, sold through the same direct online route, Cigna used. The funeral insurance comparison sets it beside the other five NZ funeral insurers.

What Does Chubb Life Funeral Cover Cost?

Chubb Life does not publish a rate card, sending applicants to an online instant-quote tool instead (Chubb Life NZ, Funeral Cover, retrieved 17 September 2026), so there is no public Chubb Life funeral premium figure to publish here.

AA Life and Momentum Life each publish one indicative worked example on their own sites instead, not a personalised quote and subject to underwriting. Between the two published examples, for a female non-smoker in her 50s to 60s taking out $10,000 of cover, the indicative weekly cost from insurers' published rate cards as at 17 September 2026 runs to about $10 to $15 a week (AA Life, Funeral Cover, retrieved 17 September 2026; Momentum Life, Funeral Insurance, retrieved 17 September 2026). Neither example applies at any other age or cover amount, and none of the three insurers publishes a full rate card the way QuoteHub's Premium Index does for underwritten life cover.

How Does Chubb Life Compare with Momentum Life and AA Life?

The three differ most on entry age and financial strength, least on cover amount, which is $30,000 at all three.

Feature Chubb Life AA Life Momentum Life
Underwriter Chubb Life (own licence) Asteron Life Limited Momentum Life (own licence)
Rating A (Excellent), A.M. Best A+ (Strong), Fitch B (Fair), A.M. Best, affirmed 11 Feb 2026
Entry ages 50 to 80 50 to 79 40 to 75
Non-accidental death, first 24 months Refund of premiums Refund of premiums Not stated as a refund on pages reviewed
Discount 20% joint 20% joint, 5% AA Member Family cover, 4 people
Premiums stop Age 90 Anniversary after 90 From the 89th birthday

Sources: Chubb Life NZ, Funeral Cover; AA Life Insurance, Funeral Cover; Momentum Life, Funeral Insurance, all retrieved 17 September 2026. Chubb Life rating from Chubb Life NZ, Financial Strength, retrieved 17 September 2026. Asteron Life rating from Asteron Life, Financial Strength, retrieved 17 September 2026. Momentum rating from A.M. Best, 11 February 2026.

Momentum Life alone accepts applicants from 40, but A.M. Best downgraded it to B (Fair) in February 2025 before affirming that rating in February 2026 (A.M. Best, 11 February 2026). Chubb Life sits at A (Excellent) and AA Life's underwriter, Asteron Life, at A+ (Strong); both are in the A band, well above Momentum's B (Fair). Check current ratings in QuoteHub's financial-strength explorer.

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Is Chubb Life Financially Strong Enough to Trust with a Funeral Claim?

Chubb Life Insurance New Zealand Limited holds an A (Excellent) rating from A.M. Best, on its own financial-strength disclosure page (Chubb Life NZ, Financial Strength, retrieved 17 September 2026). That rating is Chubb Life's alone, not the separate general insurer Chubb Insurance New Zealand Limited's own AA- S&P rating (Chubb, Chubb in New Zealand, read 14 August 2026). Chubb Life reported paying 95% of claims in 2025 and 96% in 2024, though neither figure carries a published denominator (Chubb Life NZ; 2024 claims statistics, both read 14 August 2026).

How Do You Make a Claim?

A claim starts with notifying Chubb Life of the death, usually with a certified death certificate and a claim form, by phone on 0800 402 303, online, or through an adviser. Chubb Life says it usually pays an approved funeral claim within 48 hours (Chubb Life NZ, Funeral Cover, retrieved 17 September 2026). Whether the policy was sold under the Cigna name or the Chubb Life name makes no difference: the underwriter and claims team are the same.

Talk to a Licensed Adviser

If you hold an old Cigna-branded policy and are not sure what it covers now, or you are weighing a new guaranteed-acceptance policy against a small underwritten life policy that costs less per dollar of cover, a licensed adviser can read the wording and put Chubb Life beside Momentum Life, AA Life and the rest of the funeral insurance market for your own age and health. There is no obligation. Start a free comparison or read how life insurance works in New Zealand first.

Frequently Asked Questions

Is Cigna funeral insurance still valid in New Zealand?

Yes. Chubb bought Cigna's New Zealand life business on 1 July 2022 and renamed the underwriter Chubb Life Insurance New Zealand Limited; the rebrand changed no policy's coverage, terms or premiums (Chubb, completion announcement).

What age can you get Chubb Life Funeral Cover?

New Zealand residents aged 50 to 80 are guaranteed acceptance, with no medical questions asked (Chubb Life NZ, Funeral Cover, retrieved 17 September 2026).

Does Chubb Life publish a price for Funeral Cover?

No. Chubb Life sends every applicant to an online instant-quote tool rather than publishing a rate card, so there is no public Chubb Life price to set against AA Life or Momentum Life (Chubb Life NZ, Funeral Cover, retrieved 17 September 2026). AA Life and Momentum Life each publish one indicative worked example instead, set out above.

Does my old Cigna policy number still work for a claim?

Yes. Only the company name changed. Chubb Life's claims team can look up a policy from its Cigna-era number (Chubb Life NZ, life insurance claims, read 14 August 2026).

Disclaimer: this article is general information, not personalised financial advice. Product features change over time; check the current policy wording before relying on any term above. 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. Momentum Life is not on QuoteHub's advice panel, which is listed on our disclosure page.

References

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