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Southern Cross Life

Reviewed by Henry Smith, Financial Adviser (FSP1010699). Updated 17 September 2026.

A Southern Cross brand underwritten by Chubb Life. Southern Cross markets and sells it; Chubb Life carries the risk, assesses the application and pays the claim.

QuoteHub’s read

Southern Cross Life & Living Insurance is a Chubb Life policy under the Southern Cross name: Chubb assesses the application, carries the risk and pays the claim, cover runs to $1.5 million for ages 18 to 70, and the 10% member discount lasts only while your Health Society membership does.

Who underwrites it
Chubb Life Insurance New Zealand Limited source
Who owns the underwriter
Not published
Who sells it
Southern Cross Insurance Services Limited, owned by Chubb Group
Financial strength of the underwriter
A (Excellent) (A.M. Best) source
How you can buy
Adviser or direct

Every fact here is linked to the document it came from, with the date we read it.

Southern Cross Life is not on our panel, so we cannot place cover with them. What a licensed adviser can do is put their quote, or the policy you already hold, next to the insurers we do compare. Free, no obligation, and the same price as going direct.

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A Southern Cross brand underwritten by Chubb Life. Southern Cross markets and sells it; Chubb Life carries the risk, assesses the application and pays the claim.

Southern Cross Life at a glance

Key facts about Southern Cross Life
Who underwrites itChubb Life Insurance New Zealand Limited (source, read 8 September 2026)
Who sells itSouthern Cross Insurance Services Limited
Licensed entity behind the policyChubb Life Insurance New Zealand Limited
Owner of the brandChubb Group
What they writeLife & Living Insurance
How you can buyAdviser or direct
FormerlyCigna Life Insurance New Zealand Ltd; absorbed OnePath Life Ltd
Financial strength of the underwriterA (Excellent) (A.M. Best) (source, read 14 Aug 2026)
Rating as atDate not published
On the QuoteHub panelNo, we do not place cover with them
ComplaintsFinancial Dispute Resolution Service, free for consumers

Southern Cross Life reviewed

Reviewed and updated 17 September 2026 by Henry Smith, Financial Adviser (FSP1010699), for the QuoteHub adviser team. The tables above are register records; this section is our read of them.

Verdict (2026)

Southern Cross life insurance is not underwritten by Southern Cross. Chubb Life Insurance New Zealand Limited assesses your application, holds the risk and decides your claim, and Southern Cross expressly does not guarantee those obligations. That one fact reframes everything else. The product itself is a clean, simply structured life policy with useful living benefits and a member discount, well suited to existing health members with straightforward needs. It caps at $1.5 million, offers no income protection, and does not carry the not-for-profit structure people assume they are buying.

Pros and cons

Pros Cons
Underwritten by a major NZ life insurer holding A (Excellent) from A.M. Best Southern Cross does not guarantee Chubb Life's obligations, so a refused claim is not its liability
Life Cover up to $1.5 million with a full-payment terminal illness benefit The cap is well below what the specialist life insurers will write
Bereavement Support Benefit of up to $25,000 paid early for immediate costs That benefit is an early payment of the Life Cover amount, so it reduces the final payout
Client Benefits of up to $1,000 a year for counselling, advice and career support No income protection anywhere in the range
10% member discount and a 10% Lifetime Reward for qualifying non-smokers The Lifetime Reward is conditional on non-smoker and BMI criteria
Life Events Benefit allows increases on qualifying events without health assessment The not-for-profit structure belongs to the health society, not to this product
Read the full reviewWhat Southern Cross Life and Living Insurance covers · The member discount, and what it is worth · Exclusions and things to note · The ACC gap: why life cover alone is not enough · Where this sits with QuoteHub · Limitations of this review · References

What Southern Cross Life and Living Insurance covers

Everything in this section is from southerncrosslife.co.nz, read 8 September 2026.

  • Life Cover of up to $1.5 million, paying the full amount if you pass away.
  • Terminal Illness Benefit, an early payment of the full Life Cover amount if you are diagnosed with an illness or injury with a life expectancy of less than 12 months.
  • Bereavement Support Benefit, an early payment on death of up to $25,000 of the Life Cover amount, to help with immediate costs such as funeral expenses.
  • Financial and Legal Advice Benefit, reimbursing up to $2,500 towards financial planning or legal advice about using money received from a claim.
  • Life Events Benefit, allowing an increase in cover on certain life events without a health assessment.
  • Policy Enhancement Benefit, under which enhancements may be applied to policies automatically.
  • A 30-day cancellation window. Cancel within 30 days of the policy starting and premiums paid are refunded.

Read the Bereavement Support Benefit carefully. It is an early payment of the Life Cover amount, not an addition to it, so the balance paid later is reduced accordingly.

The member discount, and what it is worth

Southern Cross publishes two discounts on this product: a 10% Southern Cross Health Society member discount, and a 10% Lifetime Reward for non-smokers who meet its BMI criteria. Source: southerncrosslife.co.nz, read 8 September 2026.

Alongside them sit the Client Benefits, worth up to $1,000 a year towards wellness advice, mental health counselling, addiction assistance, legal and financial advice, and career counselling. Those are practical additions that many competing policies do not include at no extra cost.

It is worth comparing against the same underwriter's own brand. Chubb Life's own Life and Living range publishes a multi-benefit discount of 10% for Life plus one other cover and 12.5% for Life plus two, and a 15% Lifetime Reward for qualifying non-smokers running until 28 February 2027, read 14 August 2026. Same insurer, different discount structures, so the branded and unbranded routes are worth quoting side by side.

Exclusions and things to note

Every point below comes from the Southern Cross Life website or its legal disclosure, with the date we read it. The policy documents govern any claim, not this page.

  • Southern Cross does not guarantee the underwriter's obligations. Its own words: if Chubb Life refuses your claim, Southern Cross will not be liable. Source: legal disclosure, read 8 September 2026.
  • Chubb Life decides everything about your policy, including the claim. Southern Cross promotes and markets it. Source: legal disclosure, read 8 September 2026.
  • Southern Cross receives a commission on any policies sold. Source: legal disclosure, read 8 September 2026.
  • Even the quote tools are Chubb Life's. The cover calculator and the quote and application pages are hosted and provided by Chubb Life. Source: legal disclosure, read 8 September 2026.
  • Life Cover is capped at $1.5 million. Source: southerncrosslife.co.nz, read 8 September 2026.
  • The Bereavement Support Benefit reduces the final payout, because it is an early payment of up to $25,000 of the Life Cover amount. Source: southerncrosslife.co.nz, read 8 September 2026.
  • Terminal illness requires a life expectancy of less than 12 months before the benefit pays. Source: southerncrosslife.co.nz, read 8 September 2026.
  • The Lifetime Reward is conditional. It applies to non-smokers who meet the stated BMI criteria, and the member discount requires Southern Cross Health Society membership. Source: southerncrosslife.co.nz, read 8 September 2026.

Four things are not stated on the pages we read, and this review does not state them either: the premium structure over time, whether joint policies are available, entry and expiry ages, and any stand-down periods. Check them in the policy document before you buy.

A man on crutches pauses at the edge of a footpath where the paving stops short

The ACC gap: why life cover alone is not enough

ACC covers accidental injury and pays nothing for illness, no matter how long it keeps you out of work. In the year ended 30 June 2025 it paid $8,148 million in claims across 2,102,566 registered claims. Source: ACC Annual Report 2025, published 9 October 2025, read 18 August 2026. None of it went to illness.

Cancer, cardiovascular disease and mental health conditions sit entirely outside the ACC system. For the events most likely to stop a New Zealander working, ACC provides nothing. A complete protection plan usually needs life cover, income protection and often trauma cover working together, and Southern Cross Life covers only the first of those.

Where this sits with QuoteHub

Southern Cross is one of the insurers on QuoteHub's advice panel for health cover, and Chubb Life is on it for life cover. Both appear in the list of providers on our disclosure page. 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. Henry Smith is a Financial Adviser (FSP1010699). Details of how our advisers are paid are on the disclosure page.

That relationship does not change anything in this review, which is built from Southern Cross Life's and Chubb Life's own published documents and the Reserve Bank's register.

A hand moves small figures of a family, a couple and a lone worker across a tabletop

Limitations of this review

This review is built only from public documents. It states no premium figures, because pricing depends on your age, health, occupation, smoking status and cover structure. Four gaps are recorded rather than guessed: the premium structure over time, whether joint policies are available, entry and expiry ages, and stand-down periods. An earlier version of this review carried pricing and product claims attributed to third-party comparison sites that we could not verify from a primary source, plus constructed customer scenarios. Both have been removed. Details were current at the dates shown and change without notice. The policy documents, not this page, govern any claim.

References

  • Southern Cross Life Insurance, Legal disclosure, read 8 September 2026 (promoted and marketed by Southern Cross Insurance Services Limited, underwritten and administered by Chubb Life Insurance New Zealand Limited, responsible for all claims, no guarantee of Chubb Life's obligations, commission received, quote and application pages hosted by Chubb Life)
  • Southern Cross Life Insurance, southerncrosslife.co.nz, read 8 September 2026 (Life Cover up to $1.5 million, Terminal Illness Benefit, Bereavement Support Benefit up to $25,000, Financial and Legal Advice Benefit up to $2,500, Life Events Benefit, Policy Enhancement Benefit, 30-day cancellation, Client Benefits up to $1,000 a year, 10% member discount, 10% Lifetime Reward)
  • Chubb Life New Zealand, Chubb Life financial strength, read 14 August 2026 (A (Excellent) A.M. Best rating for Chubb Life Insurance New Zealand Limited)
  • Chubb Life New Zealand, Life and Living Insurance, read 14 August 2026 (own-brand multi-benefit discount and 15% Lifetime Reward to 28 February 2027)
  • Chubb New Zealand, Chubb in New Zealand, read 14 August 2026 (Chubb Insurance New Zealand Limited is a separate general insurer with its own grade)
  • Reserve Bank of New Zealand, Register of licensed insurers, read 15 August 2026 (rating agency and grade for Chubb Life, AIA, Asteron, Partners Life, Fidelity Life)
  • Partners Life, This is Partners Life 2025 claims brochure, read 18 August 2026 (95% of assessed claims, April 2024 to March 2025)
  • Fidelity Life, Claims we've paid, read 15 August 2026 (93% of new claims accepted, July 2024 to June 2025)
  • Asteron Life, Life Insurer of the Year reports 97% claims payout rate, read 15 August 2026 (97% of trauma, life and income protection claims received, July 2023 to June 2024)
  • ACC, Annual Report 2025, published 9 October 2025, read 18 August 2026 ($8,148 million in claims across 2,102,566 registered claims in the year to 30 June 2025)
  • Insurance and Financial Services Ombudsman Scheme, participant search, read 8 September 2026

Disclaimer: This article is general information only and does not constitute personalised financial advice. 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. Insurance products are subject to underwriting, and terms, conditions, exclusions and stand-down periods apply. Features described were current at the dates above and are subject to change, so always check the current policy documents. For advice tailored to your circumstances, talk to a licensed financial adviser.

What Southern Cross Life writes

https://www.southerncrosslife.co.nz
The front page of Southern Cross Life's own website as it appeared on 16 September 2026
Southern Cross Life’s own website as it appeared on 16 September 2026. Anything time-limited on it, including any promotion, may have ended since. Visit www.southerncrosslife.co.nz

Is Southern Cross Life a fit for you?

The reasons to shortlist it, and the catches to check first. Every line below is read from a Southern Cross Life document, linked with the date.

Check these before you choose

  • Your age and residency

    Confirm you're aged 18 to 70 and a New Zealand resident (holding a New Zealand passport, New Zealand permanent residency visa, or Australian passport) before applying – only one person can be on each policy.

    source, southerncrosslife.co.nz FAQ – “Who's eligible to apply”, read 16 September 2026

  • Whether your Southern Cross health membership is active

    The 10% Member Discount depends on the life assured being covered under a Southern Cross Health Society health insurance policy at the relevant time, and on the policy owner confirming that membership to Chubb Life.

    source, southerncrosslife.co.nz – Member Discount Terms and Conditions, read 16 September 2026

  • Who actually handles claims and underwriting

    Southern Cross Life Insurance and Southern Cross Life & Living Insurance policies are underwritten and administered by Chubb Life Insurance New Zealand Limited, which handles approvals, policy administration, claims and communications.

    source, southerncrosslife.co.nz – About Chubb page, read 16 September 2026

Southern Cross Life could fit

If one or more of these look like your situation.

  • People wanting a single lump-sum life benefit

    Southern Cross Life & Living Insurance pays a lump sum of up to $1.5 million on death, with an accelerated payout available if diagnosed with a terminal illness (life expectancy under 12 months).

    source, southerncrosslife.co.nz – homepage, read 16 September 2026

  • Existing Southern Cross Health Society members

    Members get a 10% discount on their life insurance premium (excluding the policy fee) once their Southern Cross Health Society membership is confirmed to Chubb Life.

    source, southerncrosslife.co.nz – Member Discount Terms and Conditions, read 16 September 2026

  • People who want to increase cover after a life event

    The Life Events Benefit lets policyholders increase their cover after a qualifying life event without a new health assessment.

    source, southerncrosslife.co.nz – homepage, read 16 September 2026

Compare more carefully

If any of these apply, it is worth a closer look at the rest of the panel.

  • The discount can be removed

    If the life assured stops being a Southern Cross Health Society member, Chubb Life can remove the Member Discount from future premiums by giving 30 days' notice, and the discount is not applied retrospectively to premiums already paid.

    source, southerncrosslife.co.nz – Member Discount Terms and Conditions, read 16 September 2026

  • Bereavement payment is part of, not extra to, the life cover

    The Bereavement Support Benefit is an early payment on death of up to $25,000 of the Life Cover amount itself, not a separate additional payment.

    source, southerncrosslife.co.nz – homepage, read 16 September 2026

  • Only one person per policy

    Applications are for one person per policy; joint or multiple-person policies are not available.

    source, southerncrosslife.co.nz FAQ – “Who's eligible to apply”, read 16 September 2026

Which sounds more like you decides the next step, not the brand. A licensed adviser can put Southern Cross Life next to the rest of the panel on your own details. Compare Southern Cross Life with the panel.

Waiting periods, limits and ages

The numbers worth checking before you compare, read from Southern Cross Life’s own documents.

Life cover

$1.5 million maximum life cover

Southern Cross Life & Living Insurance pays a lump sum on death, with an early-payment option if diagnosed with a terminal illness.

  • Life Cover Benefit: up to $1.5 million, paid in full if the life assured passes away
  • Terminal Illness Benefit: an early payment of the full Life Cover amount if diagnosed with an illness or injury giving a life expectancy of less than 12 months
  • Bereavement Support Benefit: an early payment on death of up to $25,000 of the Life Cover amount, for immediate costs
  • Life Events Benefit: ability to increase cover after a qualifying life event without a new health assessment
  • Financial and Legal Advice Benefit: reimbursement of up to $2,500 towards financial planning or legal advice costs

NoteThe Bereavement Support Benefit's early payment on death is capped at $25,000 of the total Life Cover amount, not paid in addition to it.

source, southerncrosslife.co.nz – homepage, read 16 September 2026

Underwriting and eligibility

Ages 18 to 70 at application

The policy is underwritten and administered by Chubb Life Insurance New Zealand Limited, a separate company from Southern Cross Health Society.

  • Underwritten and administered by Chubb Life Insurance New Zealand Limited
  • “All New Zealand residents aged 18 to 70 can apply for a Southern Cross Life & Living Insurance policy”
  • One person per policy – joint or multiple-person policies are not available
  • A New Zealand resident is defined as someone living in New Zealand who holds a New Zealand passport, a New Zealand permanent residency visa, or an Australian passport
  • Chubb Life has an A (Excellent) financial strength rating from A.M. Best Company Inc.

NoteSouthern Cross Life policies are underwritten and administered by Chubb Life, not by Southern Cross Health Society.

source, southerncrosslife.co.nz FAQ – “Who's eligible to apply”, read 16 September 2026

Southern Cross Health Society member discount

10% member discount

Policyholders who are also Southern Cross Health Society members get 10% off their life insurance premium, excluding the policy fee, once confirmed to Chubb Life.

  • 10% discount on the life insurance premium, excluding the policy fee
  • Eligibility: the life assured must, at the relevant time, be covered under a Southern Cross Health Society health insurance policy, and the policy owner must confirm this to Chubb Life
  • The discount is not applied retrospectively to premiums already paid, and takes effect within 15 business days of confirmation
  • If the life assured stops being a member, Chubb Life can remove the discount from future premiums by giving 30 days' notice
  • A separate 10% Lifetime Reward discount is available for non-smokers who meet BMI criteria at application

NoteThe Member Discount is non-transferable and not redeemable for cash.

source, southerncrosslife.co.nz – Member Discount Terms and Conditions, read 16 September 2026

Limits and definitions are the comparable part of a policy. A licensed adviser can put Southern Cross Life’s next to the rest of the panel.

What it costs

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

How Southern Cross Life compares on financial strength

Financial strength is the one comparable published fact about an insurer. Every grade 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.

NoteAgencies use different scales. A letter from one is not interchangeable with the same letter from another.

Financial strength ratings for the insurers QuoteHub compares
InsurerLicensed entityFinancial strengthRating as at
AIA New ZealandAIA New Zealand LimitedAA (Fitch, source, read 14 Aug 2026)Date not published
Asteron LifeAsteron Life LimitedA+ (Fitch, source, read 14 Aug 2026)Date not published
Chubb Life NZChubb Life Insurance New Zealand LimitedA (Excellent) (A.M. Best, source, read 14 Aug 2026)Date not published
Fidelity LifeFidelity Life Assurance Company LimitedA- (A.M. Best, source, read 14 Aug 2026)Date not published
Momentum LifeMomentum Life Limited (FSP472286)B (Fair) (A.M. Best, source, read 14 Aug 2026)11 Feb 2026
Partners LifePartners Life LimitedA (Excellent) (A.M. Best, source, read 14 Aug 2026)5 Feb 2026

The whole register, every insurer with its legal entity, owner, grade, effective date and source, is a dated dataset you can download: nz-insurer-financial-strength-2026-09-17.csv.

The wording is the contract.

Southern Cross 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 Southern Cross Life

Start with the question that is holding up your decision.

Cover & cost

8 questions

Who is Southern Cross Life?

A Southern Cross brand underwritten by Chubb Life. Southern Cross markets and sells it; Chubb Life carries the risk, assesses the application and pays the claim. The licensed entity behind the policies is Chubb Life Insurance New Zealand Limited.

Who owns Southern Cross Life?

Chubb Group. Ownership matters because it decides who carries the risk behind a claim, not how a claim is assessed.

Is Southern Cross Life financially strong?

Chubb Life Insurance New Zealand Limited holds a A (Excellent) rating from A.M. Best, read from the insurer's own disclosure on 14 Aug 2026. A rating is an independent view of the ability to pay claims. It says nothing about what a policy covers or what it costs.

What does Southern Cross Life cover?

Life & Living Insurance. 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.

Is Southern Cross 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 Southern Cross 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.

Are Southern Cross 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.

How much does Southern Cross 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.

Buying & switching

5 questions

Can I buy Southern Cross Life cover without an adviser?

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

Does QuoteHub work with Southern Cross Life?

No. Southern Cross 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 Southern Cross 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.

Can I move to Southern Cross 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.

Where can I get advice about Southern Cross 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.

Claims & regulation

6 questions

Where can I read Southern Cross Life's policy wording?

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

Does Southern Cross 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.

Does Southern Cross 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 Southern Cross 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 Southern Cross 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 do I make a complaint about Southern Cross 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.

Still weighing up Southern Cross Life?

Compare this cover, price and policy terms against the other insurers on our panel, on your own details.

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Where to go next

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. QuoteHub is not owned by any insurer and this page is not a recommendation. Updated 8 September 2026