AA Life

The New Zealand Automobile Association’s own brand, created and underwritten by Asteron Life: seven covers, no medical exam on Life Cover.

AA Life at a glance

Key facts about AA Life
Fact	What the register holds
Who underwrites it	Asteron Life Limited (source, About AA Life Insurance)
Who sells it	New Zealand Automobile Association (Incorporated)
Licensed entity behind the policy	New Zealand Automobile Association (Incorporated) (distributor - not an insurer)
Owner of the underwriter	NZAA (member association)
What they write	Life cover, Income protection, Trauma cover, Funeral cover
How you can buy	Direct only
Financial strength	Not published for public use in our register
Rating as at	Not published
On the QuoteHub panel	No, we do not place cover with them
Complaints	Financial Dispute Resolution Service, free for consumers

What AA Life writes

AA Life products and what each one pays
Cover	What it pays
Life cover	A lump sum to the people you name, paid on death or a terminal diagnosis.
Income protection	A monthly benefit while illness or injury stops you earning, after a waiting period.
Trauma cover	A lump sum on the diagnosis of a listed condition, paid whether or not you stop work.
Funeral cover	A small lump sum intended to meet funeral costs, often guaranteed acceptance.

What it costs

QuoteHub does not quote or place cover with AA Life. Compare the insurers we do quote.

How AA Life compares on financial strength

Financial strength is the one comparable published fact about an insurer. Every grade below is the insurer's own disclosure for the named licensed entity, linked and dated. A rating belongs to that entity, not to a brand or a product name.

Financial strength ratings for the New Zealand insurers QuoteHub compares
Insurer	Licensed entity	Financial strength	Rating as at
AIA New Zealand	AIA New Zealand Limited	AA (Fitch, source, read 14 Aug 2026)	Date not published
Asteron Life	Asteron Life Limited	A+ (Fitch, source, read 14 Aug 2026)	Date not published
Chubb Life NZ	Chubb Life Insurance New Zealand Limited	A (Excellent) (A.M. Best, source, read 14 Aug 2026)	Date not published
Fidelity Life	Fidelity Life Assurance Company Limited	A- (A.M. Best, source, read 14 Aug 2026)	Date not published
Momentum Life	Momentum Life Limited (FSP472286)	B (Fair) (A.M. Best, source, read 14 Aug 2026)	11 Feb 2026
Partners Life	Partners Life Limited	A (Excellent) (A.M. Best, source, read 14 Aug 2026)	5 Feb 2026

What AA Life publishes

AA Life does not publish a policy wording we can link from here. Ask for the wording before you apply: a brochure is not the contract.

Questions about AA Life

Who is AA Life?

The New Zealand Automobile Association’s own brand, created and underwritten by Asteron Life: seven covers, no medical exam on Life Cover. The licensed entity behind the policies is New Zealand Automobile Association (Incorporated) (distributor - not an insurer).

Who owns AA Life?

NZAA (member association). Ownership matters because it decides who carries the risk behind a claim, not how a claim is assessed.

Is AA Life financially strong?

We do not publish a grade for AA Life because the effective date and outlook need confirming directly. The Reserve Bank register of licensed insurers is the primary source.

Can I buy AA Life cover without an adviser?

Both routes exist. You can go direct, or use a licensed adviser who can put AA Life next to the other insurers on the same set of details.

What does AA Life cover?

Life cover, Income protection, Trauma cover, Funeral cover. What each of those pays, and what it excludes, is set by the policy wording rather than by the marketing page, which is why the documents are listed on this page with the date we read them.

Where can I read AA Life's policy wording?

AA Life does not publish a policy wording we can link. Ask for it before you apply: the wording is the contract.

Is AA Life the cheapest?

No insurer is cheapest for everyone. Price depends on your age, your health and an underwriting decision that has not happened yet, so a comparison that leads with price compares the wrong thing. The published limits and definitions are what can be compared, and they are on this page.

How does AA Life compare with the other insurers?

The financial strength table on this page puts every insurer we compare side by side, with the agency, the grade and the date. The benefit limits sit on the comparison page, and a licensed adviser can run your own details across the panel.

Does QuoteHub work with AA Life?

No. AA Life is not on the QuoteHub panel, so we cannot quote or arrange their cover. This page exists because the company is worth understanding if you hold one of their policies or are considering one, not because we sell it. The insurers we can place are published on the disclosure page.

What should I check before applying to AA Life?

The stand-down period, the exclusions that apply to your own history, whether the premium is stepped or level, and what happens at renewal. All four are in the wording and none of them is in a price.

Does AA Life cover pre-existing conditions?

Not automatically. An existing condition is either excluded, loaded or accepted on its own terms, and that decision is made at underwriting on your own history. What matters is what you disclose, because non-disclosure is the most common reason a claim is declined.

Are AA Life premiums stepped or level?

Both structures exist in the New Zealand market. Stepped rises with your age each year and costs less at the start; level holds a rate to a chosen age and costs more early and less later. Which is cheaper over the life of the policy depends on how long you keep it, not on the insurer.

Can I move to AA Life from another insurer?

Yes, but moving means new underwriting, so anything that has happened to your health since you took the old policy is assessed again. Never cancel the old cover until the new policy is issued and you have read what it excludes.

Does AA Life pay claims quickly?

Claims-paid percentages and payment times are published by some New Zealand insurers and not by others, on different bases, which is why we publish the figure only where the insurer publishes it with a period. Where we hold one it appears on the review page for that insurer.

Is AA Life regulated in New Zealand?

Yes. A licensed insurer is regulated by the Reserve Bank of New Zealand, and the advice about a policy is regulated separately by the Financial Markets Authority. Those are two different licences and both matter.

What happens to my AA Life policy if the company is sold?

A policy is a contract with the licensed entity, so it continues on its terms if ownership changes. New Zealand has seen several life books change hands, and the practical effect for existing policyholders is usually the servicing brand rather than the cover.

How much does AA Life cover cost?

We do not publish a price for an insurer on this page. A premium depends on age, health, smoking status, occupation, the cover amount and an underwriting decision, so a single figure would be wrong for almost everyone reading it.

Where can I get advice about AA Life?

A licensed financial adviser can compare it against the rest of the panel on your own details and tell you where it suits you and where it does not. QuoteHub is a trading name of a licensed Financial Advice Provider and the review is free.

How do I make a complaint about AA Life?

Raise it with the insurer first. If it is not resolved you can take it to the insurer's dispute resolution scheme at no cost. QuoteHub's own scheme is the Financial Dispute Resolution Service.