Momentum vs OneChoice Life Insurance NZ
Momentum's Quick Life and OneChoice Life are not like-for-like. Quick Life (ages 18 to 65, $50,000 to $300,000) asks no health questions but excludes pre-existing conditions and suicide for the first 2 years. OneChoice Life (ages 16 to 70, $100,000 to $2 million) is underwritten by phone health and lifestyle questions, then covers death from most causes from day one.
In short
- The two life products work differently. Quick Life is guaranteed acceptance; OneChoice Life is underwritten, so your answers set the terms.
- Each company also sells a funeral product. The early-claim windows differ: 24 months at Momentum, 12 months at OneChoice.
- The risk sits with different insurers. Momentum Life Limited is rated B (Fair) by A.M. Best; OneChoice policies are issued by Pinnacle Life Limited, rated B+ (Good).
- On A.M. Best's own scale both sit below the Excellent grades (A and A-) that Partners Life, Chubb Life and Fidelity Life publish. Neither is a quote for you: premiums depend on your age, sex and smoking status.
Two products, not one
OneChoice is a trading name of Greenstone Financial Services NZ Limited, which sells and promotes the policies. The insurer is Pinnacle Life Limited, and Greenstone does not guarantee Pinnacle's obligations (OneChoice disclosure; OneChoice Life policy document). Momentum Life Limited both sells and issues its own policies, and QuoteHub is a Momentum Life partner that may receive a commission. For OneChoice on its own, see our OneChoice review and Pinnacle Life explainer.
Life cover: Quick Life vs OneChoice Life
| Momentum Quick Life | OneChoice Life | |
|---|---|---|
| Issued by | Momentum Life Limited | Pinnacle Life Limited |
| Entry ages | 18 to 65 | 16 to 70 |
| Health questions | None at application | Health and lifestyle questions by phone; special terms possible |
| Cover | $50,000 to $300,000 per life at the start | $100,000 to $2 million, capped by age (see below) |
| Automatic increases | 3% each anniversary until 75 or $500,000 per life; you can opt out | 5% each anniversary (2% on a "maximum Policy Term" policy) until the anniversary after the 75th birthday; you can decline |
| First period | First 2 years: pre-existing conditions and suicide excluded; accidental death and new conditions covered | Death by any cause covered, except intentional self-inflicted injury in the first 13 months; special terms can include accident-only for the first 12 months |
| Terminal illness | Pays on terminal illness (death expected within 12 months) | Pays on terminal illness (12 months or less) |
| Premiums | Stepped, rising each year to 75, then fixed | Stepped, rising each year |
| Always excluded | Alcohol or drug effects, war, terrorism, crime, listed dangerous jobs and pastimes | Self-inflicted injury in the first 13 months and any special term on your schedule |
| Free look | 30 days from policy start | 30 days from commencement, money back if no claim made |
Sources: Momentum Quick Life policy wording (November 2025), retrieved 17 October 2026; OneChoice Life policy document and OneChoice life insurance page, retrieved 20 October 2026.
OneChoice's maximum depends on your age when cover starts: $2 million at 16 to 44, $1.5 million at 45 to 49, $1 million at 50 to 54, $750,000 at 55 to 59 and $500,000 at 60 to 70. A policy with a "maximum Policy Term" is capped at $100,000 at the start.
What the first two years mean
This is the difference that matters most. Quick Life asks no health questions of applicants who meet its eligibility rules, and in return it excludes pre-existing conditions (illness, symptoms or treatment in the 2 years before the start, including named markers such as a BMI over 40 or very high blood pressure) and suicide for 2 years. If a person dies of a pre-existing condition in that window and no claim is payable, premiums are refunded. After 2 years, pre-existing conditions are covered, except any specific condition permanently excluded in the policy schedule.
OneChoice asks the questions first. Your answers decide whether you are accepted, on what terms and at what price. If they lead to special terms, those appear on your Policy Schedule: an accident-only first 12 months, a capped policy term, or an exclusion for a named condition. The policy document says OneChoice may cancel the policy if you fail to disclose matters material to its decision. If you have a condition that insurers load or decline, the outcome with OneChoice is not known until you apply, while Quick Life's terms are known in advance.
Funeral cover: Momentum Funeral Insurance vs OneChoice Funeral Insurance
Both are guaranteed acceptance, with no health questions.
| Momentum Funeral Insurance | OneChoice Funeral Insurance | |
|---|---|---|
| Entry ages | 40 to 75 | 18 to 79 |
| Benefit | $3,000 to $30,000 | $3,000 to $30,000 |
| First window | 24 months: accidental death only (within 90 days of the accident) | 12 months: accidental death and accidental serious injury only |
| Other death in the window | No benefit; all premiums refunded | No refund after the cooling-off period |
| Accidental death | Triple the benefit | Triple (up to $90,000) |
| Premiums | Level until the 89th birthday, then none | Level, none after 85 |
| Terminal illness | No benefit | 100% of the benefit if 12 months or less to live |
Sources: Momentum Funeral Insurance Policy Wording (17 August 2023), retrieved 17 October 2026; OneChoice funeral insurance, retrieved 20 October 2026.
For both, total premiums can end up larger than the benefit, and the benefit may not cover the whole funeral. Average funeral costs and the alternatives are on our funeral insurance hub. Premiums for neither product are published on this page, because Momentum publishes no funeral premium and OneChoice says funeral insurance "doesn't come with a set price tag".
The insurers behind the products
| Momentum Life Limited | Pinnacle Life Limited | |
|---|---|---|
| A.M. Best rating | B (Fair), affirmed 11 February 2026 | B+ (Good), affirmed 15 April 2026 |
| Ownership | DCG Invest Limited (sale closed July 2025) | Not stated by Pinnacle; no owner named here |
A.M. Best defines Fair as "a fair ability to meet their ongoing insurance obligations. Financial strength is vulnerable to adverse changes in underwriting and economic conditions" (A.M. Best guide). Momentum's own table places B in its "Vulnerable" range, and its solvency ratio was 107% at 30 June 2026 (Momentum Life: Financial strength). Pinnacle's is B+ (Good) (Pinnacle Life). Neither rating is a recommendation, and A.M. Best's scale is the only scale used in this table, so the two are comparable. Both sit below the Excellent band (A and A-). See our Partners Life rating explainer for the full band table and our Momentum rating page.
How each is sold, and who is paid
OneChoice life cover is applied for over the phone, and its website takes quote requests. Greenstone's disclosure says Pinnacle pays it up to 76.63% of each premium on OneChoice, on a level basis for the life of the policy (OneChoice disclosure, prepared 3 June 2024). Its staff can advise only on whether OneChoice products suit you and will not compare them with other insurers' products. Momentum Life sells online, by phone and through advisers and partners such as QuoteHub, and we have found no published Momentum commission rate. Smiths Insurance & KiwiSaver, which runs QuoteHub, may receive a commission from Momentum Life on a policy bought through our links; see how we are paid. Neither is a neutral comparison.
Which one fits which age?
| Your age | What is open |
|---|---|
| 16 to 17 | OneChoice Life only |
| 18 to 65 | Quick Life and OneChoice Life (OneChoice Funeral from 18, Momentum Funeral from 40) |
| 66 to 70 | OneChoice Life; Momentum Funeral (to 75) and OneChoice Funeral; Quick Life is closed |
| 71 to 75 | Both funeral products; no life product from either |
| 76 to 79 | OneChoice Funeral only. Momentum has no product open to a new applicant over 75 |
Eligibility has other conditions, including residency. Quick Life requires you to be an NZ or Australian citizen, a permanent resident visa holder, or on a work visa with 6 months or more in New Zealand. OneChoice Life requires you to be a New Zealand resident.
Choosing between them
- If you are healthy, fully underwritten cover arranged by an adviser can often give more cover for less than either product, as a healthy person can usually get more cover for less that way. See guaranteed acceptance versus full medical.
- If you have been declined, or want cover in place without questions, Quick Life's terms are known before you apply, but the first 2 years are restricted. See the two-year exclusion.
- If you want a larger sum, OneChoice's limits are higher than Quick Life's $300,000 start, but you must pass its questions. Our guide to how much life insurance you need helps size it.
- If you are 66 to 70, only OneChoice Life of the two is open for life cover.
You can read the facts on Momentum's products on our Quick Life page and Funeral Insurance page. The Momentum Life buttons on this page lead to Momentum's own online application, which gives limited guidance of its own.
Frequently asked questions
Is OneChoice life insurance guaranteed acceptance?
No. OneChoice Life asks health and lifestyle questions by phone and can apply special terms. Its funeral cover is guaranteed acceptance.
Does Quick Life ask any health questions?
No health questions at application. Momentum's own site says it is not available to applicants diagnosed with a terminal illness or in palliative or hospice care.
Who underwrites OneChoice?
Pinnacle Life Limited, which holds a B+ (Good) rating from A.M. Best. OneChoice is the brand of Greenstone Financial Services NZ Limited.
References
- Momentum Life: Quick Life Insurance Policy Wording (November 2025), retrieved 17 October 2026
- Momentum Life: Funeral Insurance Policy Wording (17 August 2023), retrieved 17 October 2026
- Momentum Life: Financial strength, retrieved 20 October 2026
- Momentum Life: Quick Life, retrieved 20 October 2026
- OneChoice: Life insurance policy document (PDF), retrieved 20 October 2026
- OneChoice: Life insurance, retrieved 20 October 2026
- OneChoice: Funeral insurance, retrieved 20 October 2026
- OneChoice: Disclosure statement, retrieved 20 October 2026
- Pinnacle Life: Financial strength, retrieved 20 October 2026
- A.M. Best: Guide to Best's Financial Strength Ratings, retrieved 20 October 2026
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