Life Insurance Cost at 65 in NZ: Premiums and Who Still Accepts You
For $500,000 of stepped life cover in New Zealand, a non-smoking 65-year-old woman is priced at roughly $400 to $475 a month and a non-smoking man at roughly $625 to $725, on QuoteHub's Premium Index of published rate cards as at 8 September 2026 (see AIA). Five of the six insurers on the Index still price new stepped cover at 65, and AIA and Partners Life publish entry ages running to 70. Momentum Life's guaranteed-acceptance Quick Life takes its last new applicants at 65, after which its own Funeral Cover and the NZ Seniors and OneChoice brands stay open into the 70s at a lower sum insured.
In short
- $500,000 of stepped life cover at 65 runs from about $400 to $725 a month across five insurers on QuoteHub's Premium Index of published rate cards as at 8 September 2026; AIA and Partners Life both still write new cover to age 70.
- Momentum Life's guaranteed-acceptance Quick Life covers 18 to 65 year olds to $300,000 with no medical exam; at 65 it is priced at roughly $375 to $400 a month for a woman and $525 to $550 for a man, above the cheapest underwritten $250,000 rate below.
- A 65-year-old male smoker pays around 1.9 times the non-smoker rate for $500,000, narrower than the roughly 2.4 times seen at 45, on QuoteHub's Index (see Fidelity Life).
Sixty-five is when NZ Super often starts, and when several insurers' entry limits stop or a guaranteed-acceptance product like Momentum Life's Quick Life takes its last application. This page prices $250,000, $500,000 and $1,000,000 of stepped cover at 65, sets out who still writes new business, and covers the guaranteed-acceptance alternatives.
How much does life insurance cost at 65 in NZ?
For $500,000 of stepped, standard-rate cover at 65, non-smoker rates on QuoteHub's Premium Index run from about $400 to $475 a month for a woman, and about $625 to $725 for a man (see AIA).
| Segment | Female, non-smoker | Male, non-smoker | Female, smoker | Male, smoker |
|---|---|---|---|---|
| $500,000 cover, age 65 | $400 to $475 | $625 to $725 | $650 to $850 | $1,100 to $1,425 |
Indicative monthly range for $500,000 of stepped, standard-rate cover at 65, occupation class 1, no loadings, across five insurers on QuoteHub Premium Index, insurers' published rate cards as at 8 September 2026 (methodology; full Premium Index), indicative only, not a quote. See AIA and Fidelity Life.
A fixed policy fee is spread across the sum insured, so the cheapest rate roughly triples, not quadruples, from $250,000 to $1,000,000.
| Cover | Female, non-smoker (range) | Male, non-smoker (range) |
|---|---|---|
| $250,000 | $225 to $250 | $350 to $375 |
| $500,000 | $400 to $475 | $625 to $725 |
| $1,000,000 | $725 to $750 | $1,125 to $1,150 |
Indicative low-end monthly range at each cover amount, age 65, non-smoker. QuoteHub Premium Index, 8 September 2026 (see AIA and Fidelity Life). Momentum Life prices cover at $250,000 only, capped at $300,000 (roughly $375 to $400 a month for a woman, $525 to $550 for a man), so it is excluded above $250,000.
Which insurers still write new life cover at 65?
Five of six insurers on QuoteHub's Index still price new stepped cover at 65; AIA, Partners Life and Chubb Life all publish a maximum entry age of 70, and Fidelity Life goes further, to 75.
| Insurer | Published Life Cover entry age | Source |
|---|---|---|
| AIA | 10 to 70 inclusive | AIA |
| Partners Life | 10 to 70 inclusive | Partners Life |
| Fidelity Life | 16 to 75, no expiry age | Fidelity Life |
| Chubb Life | 10 to 70 (55/60 on the 'level to age 65'/'level to age 70' premium options) | Chubb |
| Asteron Life | No consolidated table; still priced at 65 on the Index | Asteron Life |
Entry ages retrieved 17 September 2026 from each insurer's own site or brochure; none has a gap at 65. See the comparison of NZ's main insurers and the entity pages for AIA, Partners Life and Fidelity Life.
What are the guaranteed-acceptance funeral alternatives at 65?
When a standard policy is out of reach, on price, decline or a heavy loading, several no-medical-exam products stay open, and Momentum Life's Quick Life is taking its last applicants this year.
| Product | Underwriter | Entry ages | Maximum cover | Source |
|---|---|---|---|---|
| Momentum Quick Life | Momentum Life | 18 to 65 | $300,000, no medical exam | Momentum Life |
| Momentum Funeral Cover | Momentum Life | 40 to 75 | $30,000 (x3 accidental) | Policy wording |
| NZ Seniors Funeral Insurance | Pinnacle Life / Greenstone | 18 to 79 | $30,000 (x3 accidental) | NZ Seniors |
| OneChoice Funeral Insurance | Pinnacle Life / Greenstone | 18 to 79 | $30,000 (x3 accidental) | OneChoice |
Entry ages and limits as published, retrieved 8 to 9 September 2026. Pinnacle Life's own rating, B+ (Good) from AM Best, affirmed 15 April 2026, belongs to the underwriter behind NZ Seniors and OneChoice (Pinnacle Life).
Guaranteed acceptance costs more: a $250,000 guaranteed-acceptance policy such as Quick Life is priced at roughly $375 to $400 a month for a woman and $525 to $550 for a man at 65, against about $225 to $250 and $350 to $375 for the cheapest underwritten $250,000 policy above, roughly 50 to 65% more (see Momentum Life; Fidelity Life). Momentum's funeral product, NZ Seniors and OneChoice all stay open past that 65 cutoff, at a lower $30,000 ceiling built for funeral costs, not income replacement.
How much more do smokers and men pay at 65?
A 65-year-old smoker pays roughly 1.7 to 1.9 times the non-smoker rate, narrower than the two to two-and-a-half times gap at 45, while a non-smoking man pays about 1.52 times a non-smoking woman's rate, wider than the 1.16 to 1.18 gap at 45.
| Cover | Smoker multiple, female | Smoker multiple, male |
|---|---|---|
| $250,000 | 1.70x | 1.91x |
| $500,000 | 1.73x | 1.94x |
| $1,000,000 | 1.73x | 1.94x |
Smoker premium as a multiple of the non-smoker premium at 65, averaged across five insurers. QuoteHub Premium Index, 8 September 2026 (see Fidelity Life; more at smoker pricing).
Both gaps shift at 65 because age-based mortality dominates the rate. Smoker loadings add well over $400 a month at this age for $500,000 of cover (see the multiples table above); the average non-smoker rate across the panel is about $425 to $450 a month for a woman against about $650 to $675 for a man at the same cover (AIA; QuoteHub Index, 8 September 2026). See our guides on smokers and gender pricing.
How fast do premiums rise through your 60s?
Premiums keep accelerating through the 60s: the compound annual growth rate on $500,000 of stepped cover reaches 14.8% a year for men and 12.0% for women in the five-year band ending at 65.
| Age | Male average | Increase | Female average | Increase |
|---|---|---|---|---|
| 50 | $100 to $110 | - | $80 to $90 | - |
| 55 | $180 to $190 | 11.6%/yr | $140 to $150 | 10.9%/yr |
| 60 | $325 to $350 | 13.2%/yr | $250 to $275 | 11.3%/yr |
| 65 | $650 to $675 | 14.8%/yr | $425 to $450 | 12.0%/yr |
Indicative average monthly range across five insurers for $500,000 of stepped, non-smoker cover at each age. QuoteHub Premium Index, 8 September 2026; growth rates calculated by QuoteHub from the Index (see methodology and AIA).
From 55 to 65 the average premium rises 270% for men and 201% for women, well above the growth rate through the 40s (see life insurance at 45). See the full age curve and life insurance over 60.
How are life insurers rated at 65?
AIA carries the panel's highest financial strength rating among the insurers pricing cover at 65: AA (Very Strong) from Fitch Ratings.
| Insurer | Rating | Agency | Stated | Source |
|---|---|---|---|---|
| AIA New Zealand | AA (Very Strong) | Fitch Ratings | current | AIA |
| Asteron Life | A+ (Strong) | Fitch Ratings | current | Asteron Life |
| Partners Life | A (Excellent) | AM Best | effective 5 Feb 2026 | Partners Life |
| Chubb Life NZ | A (Excellent) | AM Best | current | AM Best |
| Fidelity Life | A- (Excellent) | AM Best | held since Dec 1996 | Fidelity Life |
| Momentum Life | B (Fair) | AM Best | affirmed 11 Feb 2026 | AM Best |
Ratings retrieved 8 to 9 September 2026 from each insurer's own site or the rating agency's release. All six are licensed insurers on the Reserve Bank's register.
A low premium is not automatically the best fit: policy length, a guaranteed-acceptance fallback and how an underwriter treats existing conditions matter more than a small monthly difference. See our comparison of NZ's main insurers and seniors funeral insurance.
Frequently Asked Questions
How much does $500,000 of life insurance cost at 65 in NZ?
On QuoteHub's Premium Index, as at 8 September 2026, $500,000 of stepped, standard-rate cover at 65 runs from about $400 to $725 a month across insurers (see AIA). Smokers pay roughly 1.7 to 1.9 times those figures.
Can I still get life insurance at 65 in New Zealand?
Yes. AIA and Partners Life both publish a maximum entry age of 70, Chubb Life's Life Cover also extends to 70 (55 or 60 under its level-premium options) but pays out at any age once in force, and Fidelity Life accepts new applicants to 75 with no expiry age, the widest of the five. Asteron Life still prices cover at 65 too, on QuoteHub's Index.
What is the guaranteed-acceptance alternative if I can't get standard cover at 65?
Momentum Life's Quick Life accepts guaranteed applicants aged 18 to 65 for up to $300,000 with no medical exam, so 65 is its last year of new business. Beyond that, Momentum's own Funeral Cover and the NZ Seniors and OneChoice brands remain open at a lower $30,000 ceiling.
Is funeral cover a cheaper alternative to full life cover at 65?
Often, yes, if the goal is final costs rather than income replacement or a mortgage. Funeral products such as Momentum Life Funeral Cover, NZ Seniors and OneChoice cap out around $30,000 with simplified underwriting, usually a lower premium for a smaller payout.
Talk to a Licensed Adviser
A licensed adviser can confirm which insurers will accept an application at your exact age and health, and can weigh a guaranteed-acceptance fallback against a fully underwritten policy. There is no obligation, and the commission QuoteHub is paid is disclosed before you decide. Start a free cover check or read more about life insurance in NZ.
References
- AIA, Life insurance
- AIA, Life Cover
- AIA, Financial strength
- Fidelity Life
- Fidelity Life, Financial strength
- Fidelity Life, Life Cover
- Asteron Life
- Asteron Life, Financial strength
- Partners Life
- Partners Life, Financial strength
- Chubb Life NZ
- Chubb Life NZ, Assurance Extra brochure
- AM Best, Chubb Life NZ rating
- Momentum Life, Quick Life
- Momentum Life, Funeral Cover wording
- AM Best, Momentum Life rating
- NZ Seniors, Disclosure Statement
- OneChoice, Disclosure Statement
- Pinnacle Life, Financial strength
- Reserve Bank NZ, Register of licensed insurers
Disclaimer: This article is general information only and does not constitute personalised financial advice. Every premium range on this page is drawn from QuoteHub's Premium Index of insurers' published rate cards as at 8 September 2026, is indicative only, and is not a quote from QuoteHub or from any insurer. Insurance is subject to underwriting, and terms, conditions, exclusions and loadings apply. 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.
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