Momentum Life Funeral Cover review
Momentum Life Funeral Cover (Funeral Insurance) accepts New Zealanders aged 40 to 75 with no medicals, health questions or paperwork. It pays a fixed benefit of $3,000 to $30,000, and three times that for accidental death. In the first 24 months it pays only for accidental death; any other death in that window pays no benefit and every premium paid for that person is refunded. Premiums are level and stop at the 89th birthday, and cover continues for life. Total premiums can end up larger than the benefit, and the benefit may not cover the whole funeral. Momentum Life Limited holds a B (Fair) rating from AM Best, which sits in AM Best's Vulnerable range.
Key facts
- Who can apply
- New Zealanders aged 40 to 75. Acceptance is guaranteed: no medicals, health questions or paperwork. A New Zealander lives in New Zealand at application and is an NZ or Australian citizen, holds a NZ permanent residency visa, or has been in New Zealand continuously for at least 12 months on a valid temporary work visa (source, retrieved 17 October 2026)
- Benefit
- $3,000 to $30,000, fixed when you take the cover out. Accidental death pays three times the benefit, so $9,000 to $90,000 (source, retrieved 17 October 2026)
- First 24 months
- Only accidental death is paid: death as a direct result of an Accident, within 90 days of it. Any other death in the first 24 months pays no benefit, and all premiums paid for that person since the cover start date are refunded. After 24 months the benefit is paid for death from any cause (source, retrieved 17 October 2026)
- Increasing cover or adding a person
- An increase, or an added life insured, is priced at current rates and is subject to its own first 24 months of accidental death only (source, retrieved 17 October 2026)
- Limit across policies
- The benefit for one person cannot exceed $30,000 across all Momentum funeral policies. Any excess comes off the most recent policy and the excess premiums are refunded. Momentum can change the maximum and says it will not notify you (source, retrieved 17 October 2026)
- Premiums
- Level: the rate stays the same each year until the life insured's 89th birthday, when premiums stop and cover continues for life. Momentum can change the rate for everyone on the same offer if tax law changes or claims experience is significantly different from expected, with at least 30 days' written notice, from the next policy anniversary. Paid fortnightly, monthly or annually; card payments carry a processing fee (source, retrieved 17 October 2026)
- What is not in the policy
- No terminal illness benefit, and no separate suicide or pre-existing condition clause. The 24-month accidental-death-only window is the only early restriction (source, retrieved 17 October 2026)
- Who can own it and who can be covered
- The owner must be a natural person who is a New Zealander. A single policy covers the owner or a partner or relative. A parent counts as a relative, so an adult child can own a policy on a parent. A family policy covers up to four people, each of them a partner or relative of the owner. Each additional person gets a $150 discount each year (source, retrieved 17 October 2026)
- Free look and cancelling
- 30 days from the Acceptance Date: cancel within it with no claim made and you get a full refund of premiums. After that, cancelling needs 30 days' notice and no premiums are refunded (source, retrieved 17 October 2026)
- Claims
- Valid claims are paid in New Zealand dollars, usually within 24 to 48 hours of approval, to the policy owner or, after the owner's death, to the nominated beneficiaries (people, not companies or charities) or the owner's executor. The claimant supplies proof at their own expense (source, retrieved 17 October 2026)
- Total premiums and the funeral bill
- The wording says the total premiums you pay could exceed the benefit, and that the benefit you chose may not cover the cost of a funeral (source, retrieved 17 October 2026)
- Insurer and rating
- Momentum Life Limited (FSP472286), owned by DCG Invest since July 2025. AM Best rates it B (Fair), which is in its Vulnerable range, downgraded from B++ (Good) and affirmed on 11 February 2026. Momentum's own solvency disclosure shows 107% at 30 June 2026, a margin of about $0.6 million, down from 117% a year earlier (source, retrieved 17 October 2026)
- Complaints
- Momentum first, then the Insurance & Financial Services Ombudsman (IFSO) Scheme on 0800 888 202. IFSO is free and its assessment is binding on Momentum Life (source, retrieved 17 October 2026)
Cover online with Momentum Life
Momentum Life's own online application opens in a new tab. You choose the cover yourself.
Momentum Life Funeral cover
Funeral cover, accepted. See your price in about a minute.
- Guaranteed acceptance for New Zealanders aged 40–75. No health questions, no medical exams.
- $3k–$30k of cover, and 3 times the cover if death is accidental, from day one.
- Level premiums that stop at 89. Cover carries on for life.
- Up to 4 people on one policy.
- Claims usually paid within 24 to 48 hours of approval. 30 days to change your mind.
In the first 2 years it pays only if death is caused by an accident; for any other cause your premiums are refunded.
Premiums can change for everyone on the same plan. Depending on how long you keep it, total premiums can add up to more than the cover, and the cover may not meet the whole cost of a funeral.
Funeral cover is for final expenses, not a replacement for larger life cover.
A 1.95% surcharge applies to card payments; direct debit is available.
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.
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If you already have cover, keep it until any new policy is in place.
What Funeral Cover pays depends on how the person dies and how long the cover has been in place. The table sets it out for a $30,000 benefit as an example (Momentum Life Funeral Insurance Policy Wording, issued 17 August 2023, read 17 October 2026).
| How the person dies | First 24 months | After 24 months |
|---|---|---|
| Accident, death within 90 days of it | Three times the benefit, so $90,000 on a $30,000 benefit (source, retrieved 17 October 2026) | Three times the benefit, so $90,000 on a $30,000 benefit (source, retrieved 17 October 2026) |
| Illness or any other cause | No benefit. All premiums paid for that person are refunded (source, retrieved 17 October 2026) | The benefit, so $30,000 (source, retrieved 17 October 2026) |
The table sets out the main terms of the policy (Momentum Life Funeral Insurance Policy Wording, read 17 October 2026).
| Feature | Detail |
|---|---|
| Entry ages | 40 to 75 (source, retrieved 17 October 2026) |
| Benefit range | $3,000 to $30,000; $9,000 to $90,000 for accidental death (source, retrieved 17 October 2026) |
| Premium shape | Level to the 89th birthday, then none; cover continues for life. Can be re-rated for all policies on the same offer for tax law or claims experience, with 30 days' notice (source, retrieved 17 October 2026) |
| Health questions or medical exam | None (source, retrieved 17 October 2026) |
| People covered | Single: owner or a partner or relative. Family: up to four, each a partner or relative (source, retrieved 17 October 2026) |
| Terminal illness benefit | None (source, retrieved 17 October 2026) |
| Cover outside New Zealand | Covered 24 hours a day anywhere in the world if the person was a New Zealander when the cover was issued (source, retrieved 17 October 2026) |
Momentum's two products work in opposite ways, and the table puts the facts side by side without ranking them (Funeral Insurance and Quick Life policy wordings, read 17 October 2026).
| Funeral Cover | Quick Life | |
|---|---|---|
| Entry ages | 40 to 75 (source, retrieved 17 October 2026) | 18 to 65 (source, retrieved 17 October 2026) |
| Amount | $3,000 to $30,000 (source, retrieved 17 October 2026) | $50,000 to $300,000 per life insured to start with (source, retrieved 17 October 2026) |
| Premiums | Level to the 89th birthday, then none (source, retrieved 17 October 2026) | Stepped (rising with age) to 75, then fixed (source, retrieved 17 October 2026) |
| First 2 years | Accidental death only; any other death pays nothing and premiums are refunded (source, retrieved 17 October 2026) | Pre-existing conditions and suicide are excluded; premiums are refunded if death from a pre-existing condition happens in that time (source, retrieved 17 October 2026) |
| Pre-existing condition clause | None (source, retrieved 17 October 2026) | Yes, for the first 2 years (source, retrieved 17 October 2026) |
Entry ages
| Cover | Entry ages |
|---|---|
| Funeral Cover | 40 to 75 (source, retrieved 17 October 2026) |
Waiting periods
| Cover | Waiting period |
|---|---|
| Death from illness or any cause other than an accident | 24 months: no benefit is paid in the first 24 months, and the premiums for that person are refunded (source, retrieved 17 October 2026) |
Exclusions
- In the first 24 months nothing is paid for death from any cause other than an Accident that is the direct and sole cause, with death within 90 days of it. All premiums paid for that person since the cover start date are refunded instead. (source, retrieved 17 October 2026)
- An Accident means bodily injury directly and solely caused by unintentional, accidental, violent, external and visible means without any other contributing causes, and not self-inflicted. (source, retrieved 17 October 2026)
- Nothing is paid unless all premiums due have been paid and the policy has not been cancelled when the claim event happens. Momentum can cancel if a premium stays unpaid for more than one month after written notice; reinstatement is by application and is not guaranteed. (source, retrieved 17 October 2026)
- Information given at application must be true, correct and complete. If it is not, Momentum may decline a claim, cancel the policy or reduce the benefit, and may treat the policy as never having existed if the failure is fraudulent. (source, retrieved 17 October 2026)
- Cancelling more than 30 days after the Acceptance Date means no refund of premiums already paid, and you lose the benefit of the premiums you have paid. (source, retrieved 17 October 2026)
- The benefit cannot be paid to a company, charity or other organisation, only to a natural person. (source, retrieved 17 October 2026)
Does Momentum have funeral cover?
Yes, and this page is about it: Momentum Funeral Insurance for New Zealanders aged 40 to 75, with a fixed benefit of $3,000 to $30,000. You apply online with Momentum Life, or a licensed adviser can arrange it. QuoteHub is a Momentum Life partner. Smiths Insurance & KiwiSaver may receive a commission if you buy through our link. General information, not advice. See also: Funeral insurance in NZ, Momentum Life. Source: Momentum Life: Funeral Insurance Policy Wording (17 Aug 2023).
Does Momentum funeral insurance pay out in the first 24 months?
Only for an accident. In the first 24 months it pays if death is the direct result of an accident and happens within 90 days of it. Any other death in that window pays no benefit, and every premium paid for that person is refunded. After 24 months it pays for any cause. Increasing the cover or adding a person starts a new 24-month window for that increase or person. See also: The 24-month refund rule, explained. Source: Momentum Life: Funeral Insurance Policy Wording (17 Aug 2023).
Is Momentum funeral insurance guaranteed acceptance?
It is a guaranteed-acceptance product for ages 40 to 75: no medicals, health questions or paperwork. The trade for that is the 24-month rule above, and it is not open below 40 or above 75. For other ages there is Momentum Quick Life (18 to 65) and a licensed adviser can talk through the rest. See also: Guaranteed acceptance life insurance, Momentum Quick Life. Source: Momentum Life: Funeral Insurance Policy Wording (17 Aug 2023).
Questions about Momentum Life Funeral Cover
How much does Momentum Funeral Cover pay?
A fixed benefit you choose between $3,000 and $30,000. If the person dies as a direct result of an accident, within 90 days of it, the policy pays three times the benefit, so $9,000 to $90,000. The benefit is a contribution towards costs and may not cover the whole funeral (Momentum Life Funeral Insurance Policy Wording, read 17 October 2026).
What happens in the first 24 months?
Only accidental death is paid. If the person dies from illness or any other cause in the first 24 months, no benefit is paid and Momentum refunds all premiums paid for that person since the cover start date. After 24 months the benefit is paid for death from any cause. Increasing cover or adding a person starts a new 24 months for that increase (Momentum Life Funeral Insurance Policy Wording, read 17 October 2026).
Do I need a medical exam or health questions for Momentum Funeral Cover?
No. Acceptance is guaranteed for New Zealanders aged 40 to 75, with no medicals, health questions or paperwork. The trade is the 24-month accidental-death-only window above. There is no pre-existing condition clause and no separate suicide clause (Momentum Life Funeral Insurance Policy Wording, read 17 October 2026).
Can total premiums be more than the benefit?
Yes. The wording says this is not a savings or investment plan and that, depending on how long you keep your cover, the total premiums you pay could exceed the benefit. Premiums stop at the 89th birthday, so someone who lives well past 80 may pay in more than the benefit pays out (Momentum Life Funeral Insurance Policy Wording, read 17 October 2026).
Do the premiums go up with age?
No, not with age. The rate stays the same each year until the 89th birthday, when premiums stop and cover continues for life. Momentum can change the rate for everyone on the same offer if tax law changes or claims experience is significantly different from expected, with at least 30 days' written notice, from the next policy anniversary (Momentum Life Funeral Insurance Policy Wording, read 17 October 2026).
What is the maximum age to apply?
75. Entry runs from 40 to 75. Over 75, neither Funeral Cover nor Quick Life accepts new applicants. Once accepted, cover continues for life (Momentum Life Funeral Insurance Policy Wording, read 17 October 2026).
Can I take out Momentum Funeral Cover for a parent?
Yes. The owner must be a natural person who is a New Zealander, and a parent counts as a relative, so an adult child can own a policy on a parent. A family policy covers up to four people, each a partner or relative of the owner. The person covered must meet the New Zealander definition (Momentum Life Funeral Insurance Policy Wording, read 17 October 2026).
Can I cancel, and do I get a refund?
You have 30 days from the Acceptance Date to cancel with a full refund of premiums, as long as no claim has been made. After that you can cancel at any time with 30 days' notice, but no premiums are refunded and you would need to reapply later (Momentum Life Funeral Insurance Policy Wording, read 17 October 2026).
How do I claim, and how fast is it paid?
Contact Momentum Life (general enquiries 0800 108 108, [email protected]). The claimant supplies proof at their own expense, which can include a medical practitioner's form and a death certificate. Valid claims are usually paid within 24 to 48 hours of approval, to the policy owner or, after their death, the nominated beneficiaries or the executor (Momentum Life Funeral Insurance Policy Wording, read 17 October 2026).
How do I complain about Momentum Funeral Cover?
Contact Momentum Life first. If it is not resolved, you can refer it to the Insurance & Financial Services Ombudsman (IFSO) Scheme on 0800 888 202 or at ifso.nz. IFSO is free to you and its assessment is binding on Momentum Life (Momentum Life Funeral Insurance Policy Wording, read 17 October 2026).
What is Momentum Life's financial strength rating?
AM Best rates Momentum Life Limited B (Fair). On AM Best's scale that is in the Vulnerable range; B++ and above sit in the range over it. It was downgraded from B++ (Good) and affirmed on 11 February 2026. Momentum's own disclosure shows solvency of 107% at 30 June 2026, a margin of about $0.6 million, down from 117% a year earlier. A rating is not a statement that a claim will go unpaid, and Momentum's own wording says it should not be read as a recommendation (AM Best; Momentum Life financial strength page, read 17 October 2026).
How is Funeral Cover different from Momentum Quick Life?
They work in opposite ways. Funeral Cover is $3,000 to $30,000 for ages 40 to 75 with level premiums to 89, and in the first 24 months it pays only for accidental death. Quick Life is $50,000 to $300,000 for ages 18 to 65 with stepped premiums to 75, and in the first 2 years it excludes pre-existing conditions and suicide. Neither product accepts new applicants over 75 (policy wordings, read 17 October 2026).
Are there other ways to pay for a funeral?
Yes, and the page does not assume funeral insurance is the right one. Saving the money, a prepaid funeral plan, and Work and Income's Funeral Grant (which has its own tests, and other help can affect eligibility) are all options. If you can set the money aside, doing that is a real alternative. QuoteHub's funeral insurance hub compares them.
Adviser's view
QuoteHub's view is that guaranteed acceptance is the whole point of this product and also its limit. For the first 24 months it pays only for accidental death, so it is a poor fit for someone who needs cover for illness straight away. After that it pays a fixed $3,000 to $30,000 towards costs, and the premiums can add up to more than that. A buyer who can save the money, or who can pass health questions for underwritten cover, has real alternatives, and Momentum's B (Fair) rating is worth weighing for a policy you plan to keep for decades.
Documents
- Momentum Life Funeral Insurance Policy Wording (issued 17 August 2023), retrieved 17 October 2026
- AM Best rating action, Momentum Life Limited, retrieved 17 October 2026
- Momentum Life: financial strength and solvency, retrieved 17 October 2026
- Momentum Life Quick Life Policy Wording, retrieved 17 October 2026
- Momentum Life website, retrieved 17 October 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). Momentum Funeral Cover NZ: Benefits and Limits. www.quotehub.co.nz/life-insurance/momentum-life/funeral-cover. Updated 2026-10-20.
Explore related pages: Life Insurance, Income Protection, Health Insurance, Trauma Insurance, Compare Insurance NZ.