Guaranteed acceptance life cover for seniors

Written by Henry Smith · 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.

Guaranteed acceptance life insurance for New Zealand seniors pays a benefit without health questions or a medical exam, and what you can buy depends on your age. Momentum Life's Quick Life ($50,000 to $300,000) is open to ages 18 to 65. From 66 to 75 only its Funeral Insurance ($3,000 to $30,000) is open. Neither takes new applicants over 75.

Get a quote and apply online today

See your price in about a minute, then apply online with Momentum Life. Guaranteed acceptance, no health questions, no medical exams.

Funeral cover See your price Ages 40–75 · $3k–$30k Life cover See your price Ages 18–65 · $50k–$300k

Want more cover or have questions? Talk to an adviser

Funeral cover: Only accidental death is covered for the first 2 years. Total premiums can add up to more than the cover, and it may not meet the whole cost of a funeral.

Life cover: Conditions you already have aren't covered for the first 2 years (premiums refunded instead). Suicide isn't covered for the first 2 years, and a few conditions can be excluded permanently.

Insurer: Momentum Life Limited. Financial strength rating B (Fair) from AM Best, affirmed 11 February 2026; B ratings sit in AM Best's 'vulnerable' range. The rating scale is available for inspection at every Momentum Life office in New Zealand. What this means

Already have cover? Keep it. New cover won't pay for a condition you already have in its first 2 years.

Opens Momentum Life's online application; its guidance only covers eligibility. QuoteHub is a Momentum Life partner. Smiths Insurance & KiwiSaver may receive a commission if you buy. General information, not advice.

Guaranteed acceptance life insurance for seniors is cover issued without health questions, GP reports or blood tests, so it is aimed at people who might be declined or heavily loaded elsewhere. The trade-off is that the insurer limits what it pays early. Quick Life excludes pre-existing conditions and suicide for the first 2 years, and Funeral Insurance pays only for accidental death for the first 24 months. Premiums are refunded when the early rule means no benefit is paid: for a pre-existing-condition death in Quick Life's first 24 months, or for any non-accident death in Funeral Insurance's first 24 months. After the early period, both pay for death from any cause. Those are Momentum's terms; other insurers set their own, and an insurer can change its entry ages. A healthy senior can usually get more cover for less through fully underwritten cover from a licensed adviser, so guaranteed acceptance is most useful for people who cannot easily get that.

What is open at each age

Your age	Momentum product	Amount	Premiums
55 to 65	Quick Life (ages 18 to 65)	$50,000 to $300,000, rising 3% a year to $500,000 per person	Stepped: recalculated each year, generally rising
66 to 75	Funeral Insurance (ages 40 to 75)	$3,000 to $30,000	Level each year until the 89th birthday, then none
Over 75	Neither is open	Not applicable	Not applicable

Quick Life's starting maximum is $300,000, and the 3% yearly increase continues until 75 or a $500,000 cap per person, whichever comes first. You can skip an increase in any year. The plan pages are Quick Life and Funeral Cover. If you are 66 or over, only the Funeral Insurance application is open to a new applicant; Quick Life is not open over 65. Ages 55 to 65 are covered in more detail on guaranteed acceptance life insurance over 65.

What happens at 65, 75 and 89

At 65. Quick Life stops accepting new applicants. A person whose true age at the start was over 65 has a void policy and a premium refund.
At 75. Funeral Insurance stops accepting new applicants. On an existing Quick Life policy, premiums become fixed, indexation stops, and $20,000 of the benefit becomes free: the policyholder can elect a free $20,000 funeral benefit or continue Quick Life with the free component.
At 89. Funeral Insurance premiums stop at the 89th birthday and cover continues for life.

The early rules, in plain terms

Quick Life, first 2 years (see also the two-year exclusion explained). Accidental death and new conditions are covered. Pre-existing conditions and suicide, attempted suicide or intentional self-harm are excluded. A pre-existing condition is an illness, condition or symptoms in the 2 years before the start, including treatment or advice and symptoms even if undiagnosed. The wording lists very high blood pressure, cholesterol over 7.0, a BMI over 40 and complications related to diabetes as examples. After 2 years, pre-existing conditions are covered except some specific conditions that can be permanently excluded and are listed in the policy. Some events are never covered: alcohol or drug effects, war, terrorism, criminal activity, and dangerous jobs or pastimes listed in the wording. The 2-year clock restarts if you cancel and rejoin.

Funeral Insurance, first 24 months. Pays only if death is the direct result of an accident and occurs within 90 days of it; accidental death pays three times the benefit. Any other death pays nothing and all premiums for that person are refunded. There is no separate pre-existing-condition or suicide clause, and no terminal illness benefit.

Total premiums can end up larger than the benefit, and a funeral benefit may not cover the whole cost of a funeral. Momentum's wording says both.

What it costs

Momentum does not publish a Funeral Insurance premium, and QuoteHub does not print one. For life cover, QuoteHub's Premium Index covers six insurers' published rate cards as at 8 September 2026, for non-smokers at standard rates in occupation class 1, with stepped premiums:

$250,000 of life cover, monthly	Man	Woman
Age 60	$170 to $325	$130 to $250
Age 65	$350 to $550	$225 to $400

Each range runs across all six insurers, including Momentum's Quick Life, and your own premium depends on underwriting. See the Premium Index methodology and the life insurance rates. For funeral cover, AA Life publishes one example: from $14.28 a week for $10,000, for a 66-year-old female AA Member non-smoker, on its page as retrieved 20 October 2026. That is one profile at one insurer, not a market price.

Stepped premiums rise each year, which is why a senior can find the cost climbing. Level premiums start higher and are fixed under the policy's rate-change terms. The FMA notes that a policy that is cheaper at first can be more expensive over the long term (FMA). An IFSO case shows what a switch can do: a "Level to age 80" policy converted to "Rate for Age" at 80 and the monthly premium went from $49 to $190; the complaint was not upheld.

Is guaranteed acceptance the right fit?

It may fit if you have had a decline, or a condition that makes cover with health questions hard to get, and a smaller benefit is enough. Even then the 2-year exclusion means a condition you have now may not be covered at first.
It may not fit if you are healthy, want a large sum, or expect to stay many years, since stepped premiums rise and total cost can pass the benefit. The guaranteed acceptance versus full medical comparison sets this out.
Check your own situation: do you have savings to cover a funeral, is anyone financially dependent on you, and what would a funeral cost? FDANZ's 2026 report gives an average $11,700 for a cremation and $14,300 for a burial with 50 guests.

When to use an adviser

A licensed adviser can ask insurers about cover with health questions, compare it with Quick Life or Funeral Insurance, and explain how each premium behaves as you age. They cannot make an insurer accept you. Momentum Life Limited holds an A.M. Best financial strength rating of B (Fair); Momentum's own table places that grade in its "Vulnerable" range (financial strength page). QuoteHub is a Momentum Life partner. If you buy a Momentum policy through this site, Smiths Insurance & KiwiSaver may receive a commission (how we are paid). Advice is provided by Craig Smith Business Services Limited, trading as Smiths Insurance & KiwiSaver, a licensed Financial Advice Provider (FSP712931). The seniors blog, funeral insurance for seniors, covers the funeral side in depth.

Get a quote and apply online today

See your price in about a minute, then apply online with Momentum Life. Guaranteed acceptance, no health questions, no medical exams.

Funeral cover See your price Ages 40–75 · $3k–$30k Life cover See your price Ages 18–65 · $50k–$300k

Want more cover or have questions? Talk to an adviser

Funeral cover: Only accidental death is covered for the first 2 years. Total premiums can add up to more than the cover, and it may not meet the whole cost of a funeral.

Already have cover? Keep it. New cover won't pay for a condition you already have in its first 2 years.

Adviser's view

For seniors the product depends almost entirely on age. Quick Life is open to 65 and carries a large benefit with rising premiums and a two-year pre-existing-condition exclusion. From 66 to 75 only the smaller Funeral Insurance is open. Both have an early restriction, so a healthy senior should ask an adviser what cover with health questions would cost first.

Henry Smith, Financial Adviser (FSP1010699). General information, not personalised financial advice.

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

Cite this page QuoteHub NZ (2026). Guaranteed Life Insurance for Seniors NZ. www.quotehub.co.nz/guaranteed-acceptance/guaranteed-acceptance-life-insurance-seniors-nz. Updated 2026-10-20.

References

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