Funeral insurance reviews in NZ: what to check before you buy

Written by · Reviewed by Smiths Insurance & KiwiSaver, licensed Financial Advice Provider (FSP712931) · Updated 2026-10-20 · Reviewed quarterly, when the underlying data is restated.

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.

There is no single reviewer's verdict on funeral insurance that fits everyone, and we do not give star ratings. Review a policy on facts: who pays claims and how that company is rated, what is paid in the first 12 or 24 months, how long premiums run, and whether the total can pass the benefit. Momentum Life's answers are in the table below.

A funeral insurance review, in the sense this page uses, is a check of a policy against a fixed list of criteria taken from the policy documents, not a score. Customer ratings tell you how the sale and the call felt. They rarely tell you what is paid in the first two years, which is what decides most outcomes. The public Google ratings for Momentum Life that we read on 17 October 2026 numbered about 67, none described a claim, and the recurring complaints concerned premium rises on Quick Life, the two-year wait and the insurer's rating. That is too small a sample to rank anything on. Momentum's own Feefo and Google scores are self-published, and we do not repeat them, or those on other providers' pages. The table asks the same twelve questions of every funeral policy. Momentum Life's answers come from its wording; the middle column shows how other published products differ, as at 20 October 2026.

The criteria scorecard

Criterion Momentum Life Funeral Insurance Range across other published products What to ask
1. Who pays claims, and the rating Momentum Life Limited; A.M. Best B (Fair), affirmed 11 February 2026 Pinnacle Life B+ (Good) and Autosure B++ (Good) from A.M. Best; Chubb Life A (Excellent) from A.M. Best; Asteron Life A+ (Strong) from Fitch, as AA prints it Which agency, what word, what date?
2. Entry age 40 to 75 18 to 79 up to 50 to 80; Greenwich 30 to 70 Does it fit your age now?
3. Early window 24 months, accident only 12 months (NZ Seniors, OneChoice) to 24 months What is paid for illness?
4. Premiums if you die in the window All refunded Refunded by AA Life, Chubb Life and Greenwich; OneChoice says no refund after the cooling-off period Is the refund in writing?
5. Accident payout 3 times the benefit, if death is within 90 days of the accident Triple, double (AA Life) or the sum insured (Chubb Life) Which accident definition applies?
6. Premium shape Fixed each year until the 89th birthday, then none Stop at 85, the anniversary after 90, 90 or when the total equals the benefit When do premiums end?
7. Can premiums change? Yes for everyone on the offer, with 30 days' notice, for tax law or claims experience Chubb: rate can change on 30 days' notice; Asteron: one-year renewable term Who decides, and how much notice?
8. Total cost against benefit Can exceed the benefit; the wording says so Greenwich is the only one with premiums that stop at the benefit What is the total at 85?
9. Benefit against funeral cost $3,000 to $30,000, capped at $30,000 per person $3,000 or $5,000 up to $30,000; $20,000 for Greenwich (web) Will it meet the cost you expect?
10. Cancelling 30-day free look from the Acceptance Date; later, cancel on 30 days' notice and premiums are lost Not compared What do I lose if I stop?
11. Claims "Usually within 24 - 48 hours of approval"; no claims statistics published Chubb and Greenwich: about 48 hours; claims-paid percentages some insurers publish are not defined alike Who can be paid? Momentum cannot pay a company or charity
12. Complaints Momentum first, then IFSO (free, binding on Momentum) Every wording we read names IFSO Which scheme, and how long to wait?

Sources are in References. Terminal illness is a further difference: Momentum Funeral Insurance has no terminal illness benefit, while NZ Seniors and OneChoice pay one. Ratings are the underwriter's own and use different scales at different agencies; we do not convert one to another. A rating is an opinion of an insurer's ability to pay claims, and A.M. Best says it is not a recommendation to buy, hold or terminate a policy. Momentum's own table places B (Fair) in its "Vulnerable" range, and its solvency ratio was 107% at 30 June 2026 against 117% a year earlier (Momentum: Financial strength). Solvency ratios from different insurers are not comparable, because the sizes differ by up to 100 times.

Why the early window matters most

Criteria 3 and 4 decide most disappointments. Under Momentum's wording, a death from illness in the first 24 months pays no benefit and returns the premiums for that person. A buyer who thought the policy would pay for an illness in year one is surprised. IFSO said in December 2025 that insurers should warn consumers that they may pay more than they get back, in the policy, on the website and in advertising, and that without the warning it is "likely to uphold the complaint" (IFSO). Look for the early window in the same places before you buy. See what is refunded in the first 24 months.

Why total cost is the second test

Jessica Wilson, Consumer NZ's head of research, said in 2020 that "the lifetime cost of buying funeral insurance is seldom disclosed up front" (RNZ, 23 July 2020). Work it out yourself. With round illustrative numbers, a $5,000 benefit and annual premiums of $400 would have cost $4,000 after ten years and $9,600 over 24 years. That is not a Momentum price; Momentum publishes none. Use our break-even calculator with a real quote, or read whether funeral insurance is worth it. Funeral policy premiums can add up to more than the benefit, and the benefit may not cover the whole funeral: FDANZ's 2026 average is $11,700 for a cremation funeral with 50 guests and $14,300 for a burial (FDANZ).

What a review cannot tell you

Questions a licensed adviser would ask

  1. How old is the person to be covered, and are they a New Zealander under the insurer's definition?
  2. Is the money needed within two years?
  3. Would a prepaid plan or savings work instead?
  4. Who would receive the payment, and would they be able to claim?
  5. What happens to the cover if premiums cannot be paid in later years?

Where to get advice

The buttons on this page open Momentum Life's online application, one option among those in the table. QuoteHub is a Momentum Life partner, and Smiths Insurance & KiwiSaver may receive a commission if you buy a Momentum policy; see how we are paid. A licensed adviser can compare the options on your own details. Advice is provided by Craig Smith Business Services Limited, a licensed Financial Advice Provider (FSP712931). This is general information, not advice, and we review it quarterly. For a side-by-side table see how the options compare; for complaints see funeral insurance disputes; the plan page is Momentum Life Funeral Cover. The hub is funeral insurance in New Zealand.

Adviser's view

We do not give funeral insurance star ratings or name a winner, because the right product depends on your age, health and what you expect to pay. Review it on facts: who pays claims, what happens in the early window, how long premiums run, and whether total premiums can pass the benefit. Customer scores tell you little about the terms that matter.
, Financial Adviser (FSP1010699). General information, not personalised financial advice.

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Cite this page QuoteHub NZ (2026). Funeral Insurance Reviews NZ: What to Check. www.quotehub.co.nz/funeral-insurance/funeral-insurance-reviews-nz. Updated 2026-10-20.

References

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