Golden funeral insurance: NZ product verification
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.
Golden Insurance does not sell funeral insurance in New Zealand that we could find. Its product is Golden Life Insurance, a lump-sum life policy for New Zealand residents aged 40 to 80, from $10,000, assessed on health and lifestyle questions. Hallmark Life Insurance Company Limited issues it. The money can be used for funeral costs, but it is not a funeral policy and acceptance is not guaranteed.
What Golden Insurance actually sells
Golden Insurance's own life insurance page describes one product. It says New Zealand residents aged 40 to 80 can apply, with "no medicals or blood tests needed - just some health and lifestyle questions", for $10,000 up to $250,000 "depending on your age and personal circumstances" (Golden Insurance: Life insurance). The page does not describe a funeral insurance product. It mentions funeral costs and final expenses only as things the lump sum could be used for.
The policy document (issue date 21 January 2026) sets out the structure. Neilson Financial Services Pty Ltd distributes the policy as Golden Insurance, "as an agent of the insurer Hallmark Life". The insurer is Hallmark Life Insurance Company Limited, NZBN 9429039172631, FSP 13701, which the document says is "a licensed insurer in New Zealand" (Golden Insurance: Policy document). Rather than print a rating, the document says to "refer to your policy schedule for disclosure of the Financial Strength Rating". We therefore state no rating for Hallmark Life. For the full check on who is behind the brand, see our Golden Insurance review.
The terms, from the policy document
| Point | What the document says |
|---|---|
| Who can apply | New Zealand residents aged 40 to 80; you can insure only your own life |
| Questions | Health and lifestyle questions; the answers set the premium, and Golden can add a waiting period or decline |
| Amount | $10,000 minimum; maximum $250,000 at 40 to 60, $200,000 at 61 to 70, $150,000 at 71 to 80, and less if your answers require |
| What it pays | A lump sum on death or on diagnosis of a terminal illness |
| Waiting period | "May apply" and is shown in the policy schedule; during it only an accidental death pays, and for another death all premiums are refunded |
| Suicide and self-harm | Not paid if it happens in the first 13 months |
| Premiums | A "variable age-stepped premium", recalculated each anniversary, which "will generally increase each year" |
| Automatic increase | The benefit rises by 3% of the original amount each anniversary unless you opt out, and the premium rises with it |
The policy document uses a 24-month waiting period as its worked example, but the length for any one customer is whatever the schedule says. Golden's page does not give a standard length.
Golden compared with funeral insurance
The two products do different jobs, and search results blur them.
| Golden Insurance life policy | Guaranteed-acceptance funeral insurance (Momentum example) | |
|---|---|---|
| Purpose | General lump sum; funeral costs are one use | A small fixed benefit aimed at funeral costs |
| Acceptance | Based on health and lifestyle answers | Guaranteed within the entry ages; no health questions |
| Ages | 40 to 80 | 40 to 75 |
| Amount | $10,000 to $250,000 | $3,000 to $30,000 |
| Early-years limit | A waiting period may apply, set in the schedule | First 24 months pay only for accidental death |
| Premiums | Age-stepped, rising each year | Level each year to the 89th birthday, then none |
| Insure someone else | No, your own life only | An adult child can own a policy on a parent |
The right-hand column is Funeral Insurance issued by Momentum Life Limited. Its 24-month rule is the one to read twice: in that window only an accidental death pays, and for any other death all premiums for that person are refunded. Premiums over many years can exceed the benefit, and the benefit may not cover a whole funeral. A.M. Best rates Momentum B (Fair), which Momentum's own table on its financial strength page places under "Vulnerable". The plan is set out on the Momentum Life Funeral Cover page.
Prepaid funeral plans are a third thing
A prepaid plan is a savings arrangement, not insurance. Now For Them, run by The Funeral Trust Services Limited, a charitable company set up through FDANZ's Charitable Funeral Trust, describes itself as "not a savings or investment product" and pays no interest (FDANZ: What is Now For Them). Public Trust offers a Prepaid Funeral Trust with a set-up fee and an end fee (Public Trust: Prepaid Funeral Trust). The Work and Income Funeral Grant treats a prepaid funeral account as an asset, and prepaid cover can affect whether you get the grant, so ask before you pay (Work and Income: Funeral Grant). Our page on funeral insurance versus prepaid funerals explains the difference.
When a search finds another "Golden" product
A search that includes the word "Golden" can return products sold outside New Zealand or run by unrelated businesses. We have only checked Golden Insurance, the brand at goldeninsurance.co.nz. For any other product you are unsure about, find the legal name of the insurer in the policy document, then check that it is a licensed insurer in New Zealand and that the seller is on the Financial Service Providers Register. A product sold under another country's rules is not the same as a New Zealand policy. If a seller will not tell you who the insurer is, treat that as a reason to stop. Golden Insurance's own complaints route ends with the free Insurance & Financial Services Ombudsman (IFSO) on 0800 888 202.
Questions to ask before you buy any of these
- Who is the insurer named on the schedule, and what is its rating from which agency?
- Is there a waiting period, how long is it, and what is paid if you die during it?
- Will premiums rise each year, and what will I be paying at 70 and 80?
- Can total premiums exceed what the policy pays?
- Does the amount fit a funeral, or is it a bigger commitment than I want?
The cost side is covered in our guide to how funeral insurance works and in funeral insurance versus life insurance.
Where to get advice
The buttons on this page open Momentum Life's online application, which is one option, not the only one. Momentum does not accept new applicants over 75, while Golden Insurance's life policy goes to 80; a licensed adviser can compare both on your own details. 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. Advice is provided by Craig Smith Business Services Limited, trading as Smiths Insurance & KiwiSaver, a licensed Financial Advice Provider (FSP712931). Back to the funeral insurance hub.
Adviser's view
Golden Insurance's New Zealand product is a life policy for ages 40 to 80 with health and lifestyle questions, from $10,000. It is not a funeral policy and it is not guaranteed acceptance. If you want a fixed small amount without health questions, that is a different product, with a waiting period of its own.
Talk to a licensed adviser about funeral cover · free, no obligation.
Cite this page QuoteHub NZ (2026). Golden Funeral Insurance NZ: Product and Term Checks. www.quotehub.co.nz/funeral-insurance/golden-funeral-insurance-nz. Updated 2026-10-20.
References
- Golden Insurance: Life insurance
- Golden Insurance: Policy document, issue date 21 January 2026
- Momentum Life: Funeral Insurance Policy Wording (PDF, issue date 17 August 2023)
- Momentum Life: Financial strength
- FDANZ: What is Now For Them
- Public Trust: Prepaid Funeral Trust
- Work and Income: Funeral Grant
Explore related pages: Life Insurance, Income Protection, Health Insurance, Trauma Insurance, Free Will.