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

Life insurance options over 70 in New Zealand

Over 70 you can still buy cover in New Zealand, but the choice narrows to funeral insurance and a few life products with health questions. Momentum Life's Funeral Insurance accepts New Zealanders aged 40 to 75 for $3,000 to $30,000, with no health questions. In the first 24 months it pays only for accidental death, and any other death in that time brings a refund of all premiums.

In short

What life and funeral cover can you buy over 70?

"Life insurance" over 70 usually means one of two things: a larger life policy where the insurer asks about your health, or a small funeral policy sold on guaranteed acceptance. The published entry ages below are from each insurer's own pages, read on 20 October 2026. Limits change, so check the insurer before you plan around one.

Product Published entry age Health questions?
Fidelity Life, life cover 16 to 75, no expiry age Yes
AIA Living, Life Cover 10 to 70 Yes
Chubb Life, Assurance Extra Life Cover 10 to 70 Yes
NZ Seniors Life (issued by Pinnacle Life) 45 to 79, $10,000 to $200,000, cover to 85 Eight phone health questions
Golden Insurance 40 to 80, with lower maximums at older ages Health and lifestyle questions
Momentum Life, Funeral Insurance 40 to 75, $3,000 to $30,000 None
NZ Seniors and OneChoice funeral cover 18 to 79, $3,000 to $30,000 None
AA Life, Funeral Cover (Asteron Life) 50 to 79, $5,000 to $30,000 None
Chubb Life, Funeral Cover 50 to 80, up to $30,000 None

Sources: the insurers' own product pages and wordings, listed under References. "No health questions" is the insurer's wording for guaranteed acceptance. It does not mean every death is paid straight away: each of these funeral products restricts what it pays in an early window, and the windows differ.

Why comprehensive cover gets harder after 70

Two things happen together. Entry ages for the larger products sit at or just above 70, and the price of cover rises steeply with age. QuoteHub's Premium Index stops at 65. At 60, it shows indicative monthly costs of $300 to $375 for a man and $225 to $275 for a woman for $500,000 of stepped, non-smoker cover. At 65 the ranges are $625 to $725 and $400 to $475 (insurers' published rate cards as at 8 September 2026, class 1 occupation, standard rates). Your own premium depends on underwriting. We publish no range for 70 because the Index does not price it.

Stepped premiums also rise every year, so a policy bought at 70 costs more each year you keep it. The Financial Markets Authority says most insurance premiums rise annually with age or inflation (FMA: Insurance). A small funeral policy is the simpler alternative to a large life one. For a wider view, see our guides to life insurance over 65 and stepped versus level premiums.

How Momentum Life's Funeral Insurance works from 70 to 75

Funeral Insurance is issued by Momentum Life Limited. It is a small funeral policy: a fixed lump sum paid to the policy owner, or the beneficiary they name, who can use it towards funeral costs.

Momentum Life's A.M. Best financial strength rating is B (Fair), affirmed on 11 February 2026. Momentum's own table puts B in its "Vulnerable" group. Read Momentum's financial strength page before you decide, and see our guide to how insurers are rated.

The 24-month rule, in plain words

This is the part that surprises people. In the first 24 months the benefit is paid only if death is the direct result of an accident and happens within 90 days of it. A death from illness in that window pays no benefit, and all premiums paid for that person are refunded. After 24 months the policy pays for death from any cause. Raising the benefit starts a new 24-month window for the increase.

There is no separate suicide or pre-existing-condition clause, and there is no terminal illness benefit. At 70 or older, think about this window honestly. If your health is poor, the policy will not pay for a death from illness for two years. Premiums paid for that person are refunded if they die of a non-accidental cause inside the window, but not if you cancel after the free look.

The age 75 cut-off

Momentum's wording sets entry ages at 40 to 75. Once you are past 75, you cannot take out a new Momentum Life Funeral Insurance policy, and Quick Life, its guaranteed acceptance life cover (which excludes pre-existing conditions and suicide for the first 2 years), is open only to ages 18 to 65. Check the exact cut-off on the application if your birthday is close. For options at 76 and over, read life insurance over 75 and funeral insurance over 75.

Will you pay in more than the policy pays out?

Maybe, and Momentum's own wording says so: total premiums "could exceed" the benefit, and the benefit may not cover the cost of a funeral. A simple break-even test shows how this works. Divide the benefit by your annual premium to get the number of years of premiums that equal the payout.

Annual premium (hypothetical) Benefit Years until premiums reach the benefit
$500 $10,000 20
$750 $10,000 about 13
$1,000 $10,000 10

These are round numbers for arithmetic, not any insurer's price, and Momentum does not publish a premium. The only funeral insurer price we found on an insurer's own page is AA Life's: "from $14.28 a week for $10,000" for a 66-year-old female AA Member non-smoker (AA Life, read 20 October 2026). That is about $743 a year, so premiums would reach $10,000 in about 13 and a half years if the price never changed. The insurer does not promise that, and the price for a 70-year-old would differ.

Compare that with putting the same amount aside yourself. Money in a savings account is yours whenever you die and whatever the cause. After 24 months the policy pays the benefit for death from any cause, even in year three. The trade-off is that you may pay more in than comes out if you live a long time. If you start at 70 and pay until 89, that is up to 19 years of premiums. Our funeral insurance break-even calculator lets you test your own numbers.

Alternatives to buying cover over 70

For a typical cost, FDANZ's 2026 report gives an average of $11,700 for a full cremation funeral for 50 guests and $14,300 for a burial (FDANZ). Our funeral cost guide breaks it down.

When to talk to a licensed adviser

Talk to a licensed adviser if you want more than $30,000, if your health is good and you wonder whether cover with health questions would cost less, or if you already hold cover and are thinking of replacing it. Replacing cover can restart waiting periods, so keep the old policy running until the new one is in force. 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 if you buy through our link; see how we are paid. The buttons on this page start Momentum's online quote, and you choose the cover yourself. See also the funeral insurance hub and Momentum Life Funeral Cover in detail.

Frequently asked questions

Can I get life insurance at 72 without a medical?

Not life insurance as such. Guaranteed acceptance funeral policies from Momentum Life (to 75), NZ Seniors, OneChoice, AA Life and Chubb Life ask no health questions at this age. Each restricts what it pays in an early window, so an illness death soon after you apply is not paid as a normal claim.

Is the 24-month wait the same at every insurer?

No. Momentum, AA Life and Chubb Life use 24 months. NZ Seniors and OneChoice use 12 months of accidental-only cover, and OneChoice says you cannot get premiums refunded after the cooling-off period. Check the wording before you compare prices.

Does Momentum Life's funeral cover pay the funeral director?

No. The beneficiary must be a natural person, because Momentum cannot pay a company, charity or other organisation directly. A funeral director cannot be named.

Can I buy cover for my parent?

If your parent is 40 to 75 and a New Zealander, you can own a Momentum Funeral Insurance policy on them, as the wording counts a parent as a relative. Check the details in funeral insurance for parents.

References

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