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

Sovereign life insurance: who looks after your policy now

Sovereign life insurance is no longer sold in New Zealand, but policies already issued stay in place. AIA New Zealand's website says it provides enhancements, policy wordings and servicing for "current and closed AIA or Sovereign policies", and its number for existing customers and claims is 0800 500 108 (Monday to Friday, 8.30am to 5.00pm). Your own policy wording and schedule set your terms.

In short

What happened to Sovereign

Many New Zealand policies were issued under the Sovereign name, and they still carry it. Today AIA New Zealand Limited, which says it has provided insurance to New Zealanders since 1981 (AIA: About AIA NZ), runs the servicing. AIA's page of product updates covers "past product ranges ... offered by AIA and Sovereign that are no longer available for sale, but remain in place for existing customers."

We could not source a date for the move of Sovereign's business into AIA New Zealand. AIA's own pages do not state it, so we leave it out. It does not change who to contact.

AIA's page also notes that its list of past products "is not exhaustive". If your policy is a different Sovereign range, AIA asks you to speak to your adviser, use live chat or call 0800 500 108 to request your issued wording.

Which terms apply to your policy

Your policy schedule names the product and the date it started. The wording in force on that date is the starting point. AIA then publishes dated enhancement summaries for the closed ranges, listed on its page by year from 2019 to 2024, for example "Closed Sovereign Enhancements - effective 8 March 2024".

Here is the rule AIA states for claims: if your product has been updated or enhanced, "we will compare the policy wordings issued to you with the latest policy wording available for the product that you hold, and we will apply the most favourable terms to your claim." That is not the same as a promise that old terms are better. It means the comparison happens on the day of a claim, between your own wording and the current one. Keep your schedule, and ask AIA or an adviser which enhancement dates apply to yours.

AIA's page also mentions policy loans for eligible former Sovereign traditional policies, and AIA MyCare for Sovereign TotalCareMax policies that include specialist and diagnostic testing. Whether either applies depends on your policy.

Who to call

You want to Start here
Get a copy of your wording or ask about enhancements AIA on 0800 500 108 (Mon-Fri, 8.30am to 5.00pm), live chat, or your adviser
Make a claim Through your adviser, or AIA on 0800 500 108 (+64 9 487 9963 from overseas); AIA lists health claims through MyAIA
Find which insurer holds a different old brand Our guide to who holds my old insurance policy
Find a policy after a death The executor can ask; see how to claim life insurance and unclaimed life insurance

AIA's own pages are the source for these contact details (AIA: Making a claim). Check the number on AIA's site before you call, as contact details change.

If your premium has jumped

Premiums on stepped policies rise each year with age. The Financial Markets Authority says cover that is cheaper at first can cost more over time (FMA). A level premium can also change at a set point. The Insurance and Financial Services Ombudsman published a case where a policy described as level to age 80 went from $49 to $190 a month at the conversion, and the complaint was not upheld (IFSO: increasing premiums).

So the question to ask is what kind of premium your schedule shows and when it can change. AIA, your adviser, or your schedule can tell you. This page cannot tell you what your premium will do.

Keep it or shop the market?

Before you replace an old policy, remember that a new one is assessed on today's health. Asteron's own guidance for people with an existing condition says cover can come with a stand-down period, a higher premium, or the condition excluded, permanently or for a time (Asteron). If your health has changed since you took out the Sovereign policy, a replacement may offer less, not more.

Sometimes replacing is right. A policy that no longer fits your cover needs, or whose cost has outgrown them, may be worth changing. The safe order never changes: do not cancel the old policy until the new one is in force. See cancel or change life insurance, and read AIA's insurer page for the insurer.

If you also want new cover

A new policy sits alongside a Sovereign one rather than replacing it, which suits someone whose old cover is no longer enough and whose health makes underwriting hard. Quick Life from Momentum Life has no health questions (ages 18 to 65, $50,000 to $300,000), with pre-existing conditions and suicide excluded for the first 2 years and premiums refunded if death comes from a pre-existing condition in the first 24 months with no claim payable. Momentum's Funeral Insurance, for ages 40 to 75, offers $3,000 to $30,000 and pays only for accidental death in the first 24 months; total premiums can add up to more than the benefit. Momentum Life Limited is rated B (Fair) by A.M. Best (Momentum: financial strength). See Quick Life and guaranteed acceptance. If you use the buttons on this page, you are applying for new cover; nothing on this page asks you to give up a Sovereign policy.

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.

Frequently asked questions

Is Sovereign still an insurer?

AIA New Zealand services Sovereign policies. AIA's pages describe the Sovereign ranges as closed to sale but in place for existing customers.

What is the Sovereign life insurance contact number?

AIA gives 0800 500 108 for claims and existing customers, Monday to Friday, 8.30am to 5.00pm, and +64 9 487 9963 from overseas.

Are my old terms still valid?

Your issued wording governs. AIA says it will apply the most favourable of your wording and the latest one at claim time, for events on or after an enhancement's effective date.

Can I still buy Sovereign cover?

AIA describes the Sovereign ranges as no longer available for sale. AIA's current range is the AIA Living range.

References

Read the full insurance guides

Compare your cover with a licensed NZ adviser · free, no obligation.

Start your free comparison

Compare panel options first. A licensed NZ adviser can then review existing cover or help with an application.

Free, no obligation. Licensed NZ advisers · Craig Smith Business Services Ltd, FAP FSP712931.

Explore related pages: Life Insurance, Income Protection, Health Insurance, Trauma Insurance, What You Get.