Fully Underwritten Life Insurance and Insurer Medical Exams in NZ
Underwriting is how a New Zealand insurer decides whether to offer you cover and on what terms, based on your health, family history, occupation and lifestyle. Full underwriting can end in standard terms, a higher premium, an exclusion, a delay or a decline. A medical exam is not required for every application: Fidelity Life and Chubb Life ask only for an application form or personal statement up to $500,000 at every age band, and more evidence is added by amount, age and what you disclose.
In short
- Underwriting means the insurer's assessment of risk before it accepts you. Fully underwritten cover is the opposite of guaranteed acceptance, where nobody asks health questions.
- Published evidence thresholds from two insurers: application form (Fidelity Life) or personal statement (Chubb Life) up to $500,000 at every age band; a GP medical or paramedical exam and blood tests from $500,001 at 61 and over (Fidelity Life underwriting guide, Chubb underwriting guide). These are minimums. Anything you disclose can trigger more.
- Whatever you are asked, answer fully. IFSO case notes show insurers reducing or avoiding claims over undisclosed conditions.
- Guaranteed acceptance skips health questions but restricts the first two years of cover. A healthy person can usually get more cover for less with fully underwritten cover through an adviser.
What is insurance underwriting in New Zealand?
Underwriting is the assessment an insurer makes of the risk of insuring you. The underwriter looks at the answers on your application, the records or tests the insurer asks for, and its own guidelines for age, amount and cover type. The result sets whether you are offered cover and the price. Underwriting is what makes the price personal: the same sum insured costs different people different amounts.
Not every product is underwritten. Guaranteed-acceptance products such as Momentum's Quick Life and Funeral Insurance accept applicants without health questions; the trade-off is a restricted early period, covered below. Asteron describes three routes for an adviser-placed life policy: non-underwritten, partly tailored or fully underwritten, where records and tests are possible (Asteron).
How does the underwriting process work from application to decision?
The process has four stages, and the length of each depends on what you disclose.
- The application. You give personal details, occupation, smoker status, height and weight, and health and family history. For some insurers an adviser runs a pre-assessment first. Fidelity's guide says a pre-assessment "is not an offer of cover, nor a binding final assessment".
- Tele-underwriting, where used. Some insurers phone you to go through the health questions. Fidelity's guide says the calls are recorded and form part of the application, so treat the call as part of your answers.
- Extra evidence, if needed. The insurer may ask for GP records, a medical exam, blood tests or a specialist report. See the next section.
- The decision. The underwriter offers standard terms or some variation, or declines.
We have not found a published decision time from any insurer, so we give none. Delays usually come from waiting for records.
When do NZ insurers require a medical exam or nurse visit?
Fidelity Life and Chubb Life publish evidence tables for life cover, and the pattern is the same: small amounts need no exam, and more evidence is added as the amount, age and disclosed conditions rise.
| Evidence | Fidelity Life | Chubb Life |
|---|---|---|
| Up to $500,000, every age band | Application form only | Personal statement only |
| $500,001 and over, age 61 and over | "Code A": GP medical or paramedical exam, HbA1c, lipids and liver tests | "Code A" |
| Higher packages | Code C adds a blood count, creatinine, hepatitis B and an HIV test; Code D adds hepatitis C and an exercise ECG or calcium score | Higher codes exist; see the guide |
Source: Fidelity Life underwriting guide (October 2025) and Chubb essential underwriting guide v8 (May 2025), both read 20 October 2026. The Fidelity guide is marked for adviser use, though it is publicly hosted, so we cite it for process, not as a promise. Compared: Fidelity Life and Chubb Life only, as at 20 October 2026. Not every NZ insurer is included, and we have not found published thresholds for AIA or Asteron. Anything you disclose, such as a heart condition, can trigger more than the minimum.
Build. Both insurers treat height-to-weight ratio as one risk factor. Fidelity: a BMI of 19 or under may need more information; above 19 to 36.9 needs no mandatory medical; 37 or above needs Code A. Chubb: 18 to 36.9 needs no mandatory medical "though a loading for BMI may still apply"; 37 or above needs a build exam plus HbA1c, lipids and liver tests. Partners Life widened its rules in October 2024: no build exam or blood tests up to a BMI of 37.99 for applicants 30 or under, and for others on life and medical cover if none of the listed cardiovascular risk factors apply (trade press, RiskinfoNZ). See high BMI and insurance.
Smoker status. Fidelity and Chubb both want no tobacco and no nicotine replacement, including vaping with nicotine, gum, patches or chewing tobacco, for 12 months before you can be rated non-smoker. Chubb adds that marijuana use more than once a week can attract a loading. Momentum's Quick Life asks for 24 consecutive months.
What tests are commonly ordered?
From the insurers' own tables: a GP medical or paramedical exam, HbA1c (a blood sugar measure), lipids (cholesterol), liver tests, a blood count, creatinine (kidney function), hepatitis B and C tests, an HIV test, and for the highest packages an exercise ECG or a calcium score. Which ones you face depends on the amount, your age and what you disclose. We have not found a published rule on who pays for them; ask the insurer or your adviser before you attend.
What outcomes can you get after full medical underwriting?
There are five common outcomes.
| Outcome | What it means |
|---|---|
| Standard terms | Cover at the standard rate for your age, sex, smoker status and amount |
| Loading | Cover with a higher premium, expressed as a percentage |
| Exclusion | A named condition is excluded from cover, permanently or for a set time |
| Postponement (deferral) | The insurer will not decide yet and asks you to reapply after a set period |
| Decline | No cover is offered |
Asteron says that with an existing condition it can usually still offer cover by adding a stand-down, raising the premium or excluding the condition permanently or for a set time. Some published examples show how far terms can vary. Chubb's adviser article says Type 1 diabetes is most commonly offered life cover only "with a loading of at least 100%", while an older, well-controlled Type 2 diagnosis with no complications "may have a loading of 50-75%" (Chubb; one insurer's guidance, not a promise). Asteron says that after cancer, postponement periods are common and can run "anywhere between a year to ten years" depending on the cancer (Asteron). For other conditions we have found no published terms, and we do not guess. A decline from one insurer is not a decline from all, but the new insurer sees your history. See pre-existing conditions.
What you must disclose, and what happens if you do not
Today, IFSO says "the law says that there is an obligation on insureds to disclose all material information" (IFSO). Its published cases show the stakes: an insurer applied 50% loadings retrospectively and paid a reduced stroke claim, and in a colon cancer case the insurer sought to avoid cover over an anaemia diagnosis, which was material, and the claim settled at half the life benefit, $95,664 (IFSO). If you cannot remember something, say so and ask for your GP records.
From 15 November 2027 (not yet in force), the Contracts of Insurance Act 2024 replaces this with a duty to take reasonable care not to make a misrepresentation, and remedies in proportion to what was said (FMA). From the same date, the Act treats what you tell a "specified intermediary" (a person who arranges the contract and is paid by the insurer) as told to the insurer. Until then, assume you must tell the whole story.
Underwritten cover versus guaranteed acceptance: which suits your situation?
Guaranteed acceptance means no health questions and no medical exam. Momentum Life's Quick Life accepts ages 18 to 65 for $50,000 to $300,000 and its Funeral Insurance accepts ages 40 to 75 for $3,000 to $30,000. Both restrict the early period. For Quick Life, pre-existing conditions and suicide are excluded for the first 2 years (premiums are refunded if death is from a pre-existing condition in the first 24 months and no claim is payable). For Funeral Insurance, the first 24 months pay only for accidental death within 90 days of the accident, and any other death refunds all premiums. Fully underwritten cover costs you questions, perhaps tests and the risk of terms such as a loading, but it covers conditions from the start where the insurer accepts them.
A healthy person can usually get more cover for less with fully underwritten cover through an adviser. Indicative monthly cost from insurers' published rate cards as at 8 September 2026, non-smoker, stepped, occupation class 1, standard rates (no loadings or exclusions), for $500,000 of life cover across the insurers that priced it:
| Age | Man | Woman |
|---|---|---|
| 30 | $30 to $40 | $20 to $30 |
| 40 | $40 to $50 | $35 to $40 |
| 50 | $90 to $120 | $80 to $100 |
Your own premium depends on underwriting. Source: QuoteHub Premium Index and each insurer's own page, such as Fidelity Life. The guaranteed-acceptance route suits people who would be declined or heavily loaded elsewhere, or who want cover in place without questions; see guaranteed acceptance vs full medical, life insurance with no medical exam, how guaranteed acceptance works and the Quick Life page. Momentum Life Limited has an A.M. Best rating of B (Fair), which Momentum's own financial strength page groups under "Vulnerable" (Momentum's financial strength page). Keep your existing cover until a new policy has started.
The role of an adviser
A licensed adviser can pre-assess you, choose which insurers to approach and help you answer completely. The FMA says most insurance advisers receive commission from the insurer, built into the premium, and must disclose how much (FMA: Insurance advice). QuoteHub is a Momentum Life partner. Smiths Insurance & KiwiSaver may receive a commission if you buy through our link; see how we are paid. To start, use QuoteHub's cover check.
Frequently asked questions
Do all fully underwritten policies need a medical exam?
No. Fidelity Life asks only for an application form, and Chubb Life only for a personal statement, up to $500,000 at every age band. More evidence is added by amount, age and what you disclose.
What if I forgot to mention something?
Tell your adviser or the insurer before the policy starts. IFSO's cases show that omissions found at claim time can reduce or end a claim.
Does a loading last forever?
We have found no published rule that applies to every insurer. Ask what the offer says about reviewing a loading before you accept.
How is underwriting different from guaranteed acceptance?
Underwriting assesses you individually. Guaranteed acceptance asks no health questions, within its age and residency rules, and restricts early claims instead. See what guaranteed acceptance means.
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. This article is general information and not advice. Reviewed by the QuoteHub Adviser Team; last reviewed 20 October 2026.
References
- Fidelity Life: Underwriting guide (October 2025), retrieved 20 October 2026
- Chubb Life NZ: Essential underwriting guide v8 (May 2025), retrieved 20 October 2026
- Chubb: Diving into diabetes, retrieved 20 October 2026
- Asteron Life: Insurance options for pre-existing conditions, retrieved 20 October 2026
- Asteron Life: If I had cancer, can I still get life insurance?, retrieved 20 October 2026
- RiskinfoNZ: Partners Life underwriting enhancements, 17 October 2024
- IFSO: Non-disclosure policy criteria not met, retrieved 20 October 2026
- IFSO: Colon cancer non-disclosure, retrieved 20 October 2026
- FMA: Contracts of Insurance Act 2024, retrieved 20 October 2026
- FMA: Insurance advice, retrieved 20 October 2026
- Momentum Life: Quick Life Insurance Policy Wording (November 2025), retrieved 20 October 2026
- Momentum Life: Funeral Insurance Policy Wording (17 August 2023), retrieved 20 October 2026
Read the full insurance guides
Compare your cover with a licensed NZ adviser · free, no obligation.
Explore related pages: Life Insurance, Income Protection, Health Insurance, Trauma Insurance, Calculators.