$250,000 life insurance cost in NZ: Premium Index ranges
For $250,000 of life cover, a non-smoking New Zealander aged 40 sees a monthly cost of roughly $25 to $70 for a man and $20 to $60 for a woman, and about $170 to $325 and $130 to $250 at 60. These are rounded ranges across six insurers from QuoteHub's Premium Index, as at 8 September 2026, for stepped premiums at standard rates. They are wide because the panel includes Momentum's guaranteed-acceptance Quick Life as well as underwritten cover. Your own premium depends on underwriting.
In short
- $250,000 is the only life amount where the Index prices Momentum's Quick Life next to five underwritten insurers, so it is also the amount where the ranges are widest.
- Age moves cost more than anything else. For a man, the lowest quote on the Index at 65 is about sixteen times the lowest quote at 30.
- Smokers pay more at every age on the Index: roughly 1.2 to 2.3 times the lowest non-smoker quote at $250,000, depending on age and sex.
- Quick Life accepts $50,000 to $300,000 for ages 18 to 65 with no health questions, but pre-existing conditions and suicide are excluded for the first 2 years.
$250,000 life cover cost by age
Every cell is one rounded range across the insurers that priced the row. Rounding follows the site rule: nearest $5 under $50, nearest $10 up to $200, nearest $25 above, rounded outward so the range is never narrower than the real spread. No range is a quote.
Non-smoker, monthly
| Age | Man | Woman |
|---|---|---|
| 25 | $25 to $60 | $15 to $45 |
| 30 | $20 to $60 | $15 to $45 |
| 35 | $20 to $60 | $15 to $45 |
| 40 | $25 to $70 | $20 to $60 |
| 45 | $35 to $90 | $30 to $70 |
| 50 | $50 to $110 | $45 to $100 |
| 55 | $90 to $180 | $70 to $140 |
| 60 | $170 to $325 | $130 to $250 |
| 65 | $350 to $550 | $225 to $400 |
Smoker, monthly
| Age | Man | Woman |
|---|---|---|
| 30 | $35 to $90 | $20 to $60 |
| 40 | $50 to $110 | $35 to $80 |
| 50 | $130 to $225 | $90 to $160 |
| 60 | $375 to $575 | $225 to $425 |
| 65 | $600 to $1,050 | $350 to $725 |
Indicative monthly cost from insurers' published rate cards as at 8 September 2026, stepped, occupation class 1, standard rates with no loadings or exclusions. For women aged 25 to 30 only three insurers priced the row. The panel is AIA, Asteron Life, Chubb Life, Fidelity Life, Momentum Life and Partners Life; see the Premium Index methodology and published rate cards at AIA and Fidelity Life. Your own premium depends on underwriting.
Why the ranges are wide
Two things widen a range at $250,000. First, it is a mix of products. The other five insurers' cover is underwritten, meaning the insurer assesses your health and may load or exclude. The sixth, Quick Life, asks no health questions, so it prices a different pool of people. We do not publish which insurer sits where. What can be said as general fact is that a healthy person can usually get more cover for less with fully underwritten cover through an adviser. Second, the insurers rate age, sex and smoking differently from one another.
Compare the same person at $500,000, where only underwritten insurers are in the panel: a non-smoking man aged 40 sees a monthly cost of $40 to $50 on the Index. See the $500,000 cost page for the full set. At 40 that means the top of the $250,000 range is higher than the top of the $500,000 range, which is a reason to compare more than one route before you buy.
What drives the price at this amount
- Age. Stepped premiums are reset each year for your age. On the Index the lowest quote for a man rises about sixteen-fold between 30 and 65 at $250,000, and about twelve-and-a-half-fold for a woman, on QuoteHub's arithmetic.
- Smoking. Smoker status turns on nicotine use. Fidelity Life and Chubb Life both ask for 12 months with no tobacco and no nicotine products, vaping with nicotine included, before non-smoker rates (Fidelity FAQ); Momentum asks for 24 consecutive months (Quick Life wording).
- Sex. A man's lowest quote is above a woman's at every age on the Index: by roughly 10 to 20 percent from 30 to 50, and by about 48 percent at 65.
- Occupation. The Index prices occupation class 1 only. A hazardous job can change terms with underwritten insurers.
- Structure. The Index prices stepped premiums only. Level premiums start higher and stay fixed for the term, as Fidelity describes; we have no level comparison, so none is shown.
Quick Life at $250,000
Quick Life is Momentum Life's guaranteed-acceptance life cover, issued by Momentum Life Limited. At $250,000 it is within its $50,000 to $300,000 range for ages 18 to 65.
| Rule | What it says |
|---|---|
| Acceptance | Guaranteed: no health questions and no medical exam |
| First 2 years | Pre-existing conditions and suicide are excluded; premiums refunded if death is from a pre-existing condition in the first 24 months and no claim is payable |
| Pays on | Accidental death, death from any cause after the first 2 years, and terminal illness (expected to lead to death within 12 months) |
| Premiums | Stepped each year to 75, then fixed |
| Benefit | Rises 3 percent a year until 75 or $500,000; premium rises with it |
| Always excluded | Alcohol or drug effects, war, terrorism, crime, dangerous jobs or pastimes in the wording |
Source: Momentum Life Quick Life Policy Wording, November 2025. Momentum's own page says Quick Life is not available to people diagnosed with a terminal illness or in palliative or hospice care at application. See the Quick Life plan page and the guaranteed acceptance hub.
Momentum Life Limited has an A.M. Best financial strength rating of B (Fair), affirmed on 11 February 2026, a range A.M. Best calls vulnerable (Momentum: financial strength). A life policy can run for decades, so the insurer's financial strength is worth weighing alongside price.
Is $250,000 enough?
For many households it is a starting figure, not an answer. The average new mortgage in New Zealand was $377,569 in June 2026, on Reserve Bank data reported by NZ Adviser. A $250,000 policy covers about two-thirds of that on its own, before income, children's costs or a funeral.
It can fit well in a few cases: a single person with modest debts, a second policy layered on workplace cover, or someone who wants cover in place now and plans to add more later. If waiting is tempting, read the cost of waiting, because the Index shows premiums for the same cover rising with age. For a smaller sum, see the $100,000 cost page.
How to get accurate quotes
- Decide the amount first, using the life insurance calculator.
- Ask for stepped and level quotes if you plan to keep the cover long term.
- Answer every health question fully. IFSO case notes show insurers reducing or avoiding claims for non-disclosure (IFSO).
- Check what the first two years of any policy cover before you pay.
Compared: the six named insurers on the Premium Index, on cost by age, sex and smoking status for $250,000, as at 8 September 2026. Not every NZ insurer is included. This is one adviser team's reading, not a score.
Financial advice is provided by Craig Smith Business Services Limited, trading as Smiths Insurance & KiwiSaver, a licensed Financial Advice Provider (FSP712931). This page is general information, not advice. QuoteHub is a Momentum Life partner, and Smiths Insurance & KiwiSaver may receive a commission if you buy through our link; see our disclosure and how we are paid. The buttons on this page lead to Momentum's own application.
Frequently asked questions
How much is $250,000 life insurance a month in NZ?
For a non-smoker the Index shows a monthly cost of about $15 to $70 at ages 25 to 40, rising to about $350 to $550 for a man and $225 to $400 for a woman at 65. These are rounded ranges, not quotes.
Why is the $250,000 range so wide?
The panel mixes underwritten cover with a guaranteed-acceptance product, and insurers price age, sex and smoking differently.
Can I get $250,000 of cover with no medical?
Quick Life takes $50,000 to $300,000 for ages 18 to 65 with no health questions, subject to the 2-year exclusions for pre-existing conditions and suicide.
References
- Momentum Life: Quick Life Insurance Policy Wording (November 2025), retrieved 17 October 2026
- Momentum Life: Financial strength, retrieved 20 October 2026
- Fidelity Life: Life cover, retrieved 20 October 2026
- Fidelity Life: FAQ, retrieved 20 October 2026
- AIA New Zealand: Life insurance, retrieved 20 October 2026
- IFSO: Non-disclosure case, retrieved 20 October 2026
- NZ Adviser: NZ mortgage lending eases in June, retrieved 20 October 2026
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