Chubb Assurance Extra NZ Review
Assurance Extra is Chubb Life's master policy for personal life insurance in New Zealand, built by an adviser from nine mix-and-match covers rather than sold as a fixed package. Life Cover and Life Income Cover carry no maximum sum insured from age 16, which is the structural difference from Chubb's packaged Life & Living product, capped at $1.5 million.
Key facts
- Structure
- Master policy, nine mix-and-match cover options, built by an adviser rather than bought as a fixed package (source, retrieved 8 September 2026)
- The nine covers
- Life Cover & Life Income Cover, Trauma Cover & Moderate Trauma Cover, Complete Disablement Cover, Income Cover, Mortgage Repayment Cover, Redundancy Cover, Specific Injury Cover, Premium Cover (source, retrieved 8 September 2026)
- Life Cover maximum, age 16 and over
- No maximum sum insured (source, retrieved 8 September 2026)
- Life Cover maximum, age 10 to 15
- $50,000, with individual consideration up to $250,000 given appropriate financial justification (source, retrieved 8 September 2026)
- Life Cover and Life Income Cover term
- To any age; both are payable on death or terminal illness at any age and do not expire (source, retrieved 8 September 2026)
- Distribution
- Adviser channel (source, retrieved 8 September 2026)
- Financial strength rating
- A (Excellent), AM Best, Long-Term Issuer Credit Rating a+ (Excellent), stable outlook (source, retrieved 8 September 2026)
What it costs
| Age | $250,000 | $500,000 | $1,000,000 |
|---|---|---|---|
| 25 | $29.09 | $45.01 | $75.81 |
| 30 | $25.47 | $38.84 | $64.70 |
| 35 | $24.79 | $37.68 | $62.62 |
| 40 | $29.51 | $45.72 | $77.10 |
| 45 | $42.16 | $67.28 | $115.90 |
| 50 | $68.10 | $111.50 | $195.49 |
| 55 | $113.02 | $188.06 | $333.31 |
| 60 | $209.91 | $353.23 | $630.61 |
| 65 | $416.90 | $706.05 | $1,265.69 |
Assurance Extra is built from nine separate covers rather than sold as one shape, and the table below lists them as Chubb publishes them (Assurance Extra product brochure, retrieved 8 September 2026).
| Cover | What it is for |
|---|---|
| Life Cover & Life Income Cover | A lump sum, or a monthly sum, on death or terminal illness (source, retrieved 8 September 2026) |
| Trauma Cover & Moderate Trauma Cover | A lump sum on diagnosis of a defined serious condition (source, retrieved 8 September 2026) |
| Complete Disablement Cover | A benefit if illness or injury leaves you totally and permanently disabled (source, retrieved 8 September 2026) |
| Income Cover | A monthly benefit if you cannot work due to illness or injury (source, retrieved 8 September 2026) |
| Mortgage Repayment Cover | A monthly benefit toward mortgage repayments if you cannot work (source, retrieved 8 September 2026) |
| Redundancy Cover | A benefit if you are made redundant (source, retrieved 8 September 2026) |
| Specific Injury Cover | A lump sum for a defined list of injuries (source, retrieved 8 September 2026) |
| Premium Cover | Waives premiums on other covers during a claim (source, retrieved 8 September 2026) |
Life Cover and Life Income Cover carry no maximum sum insured from age 16, and the table below shows the published limits by age band (Assurance Extra Life Cover & Life Income Cover brochure, retrieved 8 September 2026).
| Age | Maximum sum insured |
|---|---|
| 10 to 15 (inclusive) | $50,000; individual consideration up to $250,000 with financial justification (source, retrieved 8 September 2026) |
| 16 and over | No maximum (source, retrieved 8 September 2026) |
Entry ages
| Cover | Entry ages |
|---|---|
| Life Cover & Life Income Cover | No stated maximum entry age is published in the brochure; cover itself does not expire and is payable at any age. (source, retrieved 8 September 2026) |
| The other eight Assurance Extra covers | Entry ages for Trauma, Complete Disablement, Income, Mortgage Repayment, Redundancy, Specific Injury and Premium Cover are set in each cover's own brochure, not published in one consolidated table. (source, retrieved 8 September 2026) |
Waiting periods
| Cover | Waiting period |
|---|---|
| Income Cover, Mortgage Repayment Cover | Set at application per the individual cover document (source, retrieved 8 September 2026) |
Exclusions
- Assurance Extra's full exclusion list is set out separately in each of the nine cover documents rather than in one general terms document; ask for the specific cover document before you sign. (source, retrieved 8 September 2026)
Questions about Chubb Assurance Extra
What is Chubb Assurance Extra?
It is Chubb Life's master policy for personal life insurance, built by an adviser from nine mix-and-match cover options rather than sold as a fixed package. It is distributed through the adviser channel (Chubb Assurance Extra product page, retrieved 8 September 2026).
What does Chubb Life insurance cover?
Under Assurance Extra, Chubb covers death and terminal illness (Life Cover), serious illness (Trauma Cover), permanent disability (Complete Disablement Cover), lost income (Income Cover), mortgage repayments, redundancy, specific injuries and premium waiver, chosen individually by your adviser (Assurance Extra brochure, retrieved 8 September 2026).
What is the maximum Chubb Life Cover under Assurance Extra?
There is no maximum sum insured for Life Cover and Life Income Cover from age 16. For a child aged 10 to 15, the maximum is $50,000, with individual consideration up to $250,000 given appropriate financial justification (Assurance Extra Life Cover brochure, retrieved 8 September 2026).
How is Assurance Extra different from Chubb Life & Living?
Assurance Extra is an adviser-built master policy with nine covers and no Life Cover maximum from age 16. Life & Living is a packaged policy limited to three covers, with Life Cover capped at $1.5 million and Expenses Cover capped at two years, so the two are different products, not tiers of one (QuoteHub comparison, retrieved 8 September 2026).
How do I contact Chubb Life insurance in NZ?
Assurance Extra is sold through the adviser channel, so the normal route is through a financial adviser rather than direct contact with Chubb. Chubb's own contact details are published on its New Zealand website (chubb.com/nz-en).
How to cancel Chubb life insurance in NZ?
Under the Life & Living general terms, cancelling within 30 days of the commencement date is treated like a cooling-off period; cancelling after 30 days means Chubb will not refund premiums already paid for cover provided. Assurance Extra's specific cancellation terms sit in its own general terms document (Chubb Life & Living policy document, retrieved 8 September 2026).
Is Chubb Assurance Extra sold direct or through an adviser?
Through the adviser channel. Chubb positions Assurance Extra as needing the help of a qualified Insurance Adviser to mix and match the nine cover options (Chubb Assurance Extra product page, retrieved 8 September 2026).
What is Chubb's financial strength rating?
Chubb Life Insurance New Zealand Limited holds an A (Excellent) Financial Strength Rating and a Long-Term Issuer Credit Rating of a+ (Excellent) from AM Best, both with a stable outlook (AM Best, affirmed rating, retrieved 8 September 2026).
Does Assurance Extra include income protection?
Yes, through the separate Income Cover option, one of the nine covers you can add to an Assurance Extra policy alongside Life, Trauma, Complete Disablement, Mortgage Repayment, Redundancy, Specific Injury and Premium Cover (Assurance Extra brochure, retrieved 8 September 2026).
Can Assurance Extra be used to insure a child?
Life Cover and Life Income Cover can be taken out from age 10, capped at $50,000 (or up to $250,000 with justification) until age 16, when the no-maximum tier applies (Assurance Extra Life Cover brochure, retrieved 8 September 2026).
Adviser's view
QuoteHub's read is that Assurance Extra earns its adviser-only distribution: the no-maximum Life Cover from age 16 and nine mix-and-match covers suit a buyer whose needs will keep growing, while someone who only wants a fixed, simpler policy is better served by Chubb's own packaged Life & Living product instead.
Documents
- Assurance Extra product page, retrieved 8 September 2026
- Assurance Extra product brochure, retrieved 8 September 2026
- Assurance Extra Life Cover & Life Income Cover brochure, retrieved 8 September 2026
- Chubb Life financial strength disclosure, retrieved 8 September 2026
- AM Best, Chubb Life Insurance New Zealand rating affirmation, retrieved 8 September 2026
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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.
Cite this page QuoteHub NZ (2026). Chubb Assurance Extra NZ Review: Nine Covers Explained. www.quotehub.co.nz/life-insurance/chubb-life/assurance-extra. Updated 2026-09-08.
Explore related pages: Life Insurance, Income Protection, Health Insurance, Trauma Insurance, What You Get.