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

Southern Cross life insurance review: a member's checklist

Southern Cross Life & Living Insurance is a life policy promoted by Southern Cross Insurance Services Limited and underwritten and administered by Chubb Life Insurance New Zealand Limited, which is responsible for all claims. It offers Life Cover up to $1.5 million, an early payment of up to $25,000 on death, and two 10% premium discounts. Acceptance depends on Chubb Life's underwriting; it is not guaranteed acceptance.

In short

What you are actually buying

A review of "Southern Cross life insurance" is really a review of a Chubb Life policy. The Southern Cross site says the policies are "underwritten and administered by Chubb Life Insurance New Zealand Limited", and that Chubb Life is responsible for the cover calculator, the quote and application tools, and "all claims, communications and other policy related matters" (Southern Cross Life). Chubb Life has an A (Excellent) financial strength rating from A.M. Best (Chubb Life: financial strength). That rating belongs to the underwriter, not to the Southern Cross health society.

This matters when you compare. A choice between the Southern Cross policy and Chubb Life's own brand is a choice between two products from one insurer. Our Chubb Life review covers the insurer side.

What the policy offers

All of the following is from the product page, read on 20 October 2026, and is subject to the policy terms (Southern Cross Life).

Feature What the page says
Life Cover Up to $1.5 million, paid on death
Terminal Illness Benefit An early payment of the full Life Cover amount, for an illness or injury with a life expectancy of less than 12 months
Bereavement Support Benefit An early payment on death of up to $25,000 of the Life Cover amount
Financial and Legal Advice Benefit Reimbursement of up to $2,500 for advice on using claim money
Life Events Benefit Cover can be increased after certain life events "without the need for a health assessment"
Client Benefits Up to $1,000 (including GST) per policy year, with a $300 maximum per session, for wellness advice, counselling and similar services; for policies taken out from 20 November 2025
Cancellation Premiums refunded if you cancel within 30 days of the policy starting

The Bereavement Support Benefit is an early payment of part of the Life Cover, not an extra amount. It is a useful way to get money to a family before a claim is finished, and it is not a funeral insurance product.

How the two discounts work

Both discounts are 10% of premiums, and both exclude the policy fee. The member discount applies if you tell the Southern Cross Life team you are a Southern Cross Health Society member; applications made before 20 November 2025 fall under different member discount terms. The Lifetime Reward depends on meeting the non-smoker and BMI criteria at the time you apply for Life Cover (Southern Cross Life).

The page lists the two separately and does not say whether they combine, so ask before you assume they do. Here is the arithmetic with a round, labelled number. It is an illustration, not a quote and not a price from any insurer: if a policy cost $100 monthly before discounts and one 10% discount applied to all of it, the saving would be $10 monthly, or $120 over a year. The policy fee is excluded, so the real saving is a little smaller. The size of the saving depends entirely on the premium Chubb Life quotes you, and that depends on your age, health, smoking status and cover amount. We publish no Southern Cross premium.

Chubb Life also sells under its own brand, so quote both. A 10% discount on a higher base premium can cost more than a smaller discount on a lower one.

Underwriting: what to expect

The Southern Cross page offers a face scan "to tailor your health questions", with the standard application still available. The cover is "subject to approval by Chubb Life of a completed application", and terms, conditions and exclusions apply (legal disclosure). That makes it an underwritten policy. Answer every question completely: the Insurance and Financial Services Ombudsman published a case where an insurer reduced a stroke claim for non-disclosure and the complaint was not upheld (IFSO).

We could not find entry ages, expiry ages or stand-down periods on the pages we read, and we do not state them. They should be in the policy wording, which the Southern Cross site says is on its Products page; you can also call 0800 000 200.

A checklist before you apply

  1. Do you need more than $1.5 million, or income protection? The page lists no cover above $1.5 million and no income protection benefit. If you need either, ask an adviser to look beyond this policy.
  2. Is the discount real for you? Confirm in writing whether you qualify for the member discount, the Lifetime Reward, or both, and what each is worth on your quote.
  3. Have you got the quote side by side? Get Chubb Life's own-brand quote and at least one other insurer's for the same cover.
  4. Do you have the entry and expiry ages, and the exclusions? Read the policy document before paying.
  5. Do you know who pays the claim? It is Chubb Life, and Southern Cross has said it will not be liable if Chubb Life declines.

How it compares with guaranteed acceptance cover

Momentum Life's Quick Life is a different kind of product: there are no health questions, ages 18 to 65, and cover of $50,000 to $300,000. The price of skipping underwriting is a two-year wait. For the first 2 years pre-existing conditions and suicide are excluded, and if death comes from a pre-existing condition in the first 24 months with no claim payable, the premiums are refunded. Momentum Life Limited's A.M. Best rating is B (Fair); see Momentum's financial strength page. For a healthy person, an underwritten policy such as the Southern Cross one can offer far more cover. For someone likely to be declined or loaded, guaranteed acceptance may be the only way to get cover in place. Neither is better as a fact; they answer different situations. See Quick Life, and compare the companies side by side.

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 on Momentum products; see how we are paid. Southern Cross is also paid commission on its policies.

Frequently asked questions

Who underwrites Southern Cross life insurance?

Chubb Life Insurance New Zealand Limited underwrites and administers it. Southern Cross Insurance Services Limited promotes and markets it.

How much cover can I get?

The product page says Life Cover up to $1.5 million. Whether you are offered that depends on Chubb Life's assessment.

Is it available without health questions?

No. The application is assessed by Chubb Life. A face scan is offered to tailor the health questions, and the standard application is still available.

Are the discounts automatic?

The member discount applies when you tell the Southern Cross Life team you are a member. The Lifetime Reward depends on meeting the non-smoker and BMI criteria when you apply.

References

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