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Funeral Insurance Frequently Asked Questions and Answers 

We receive many questions about Funeral Insurance on a daily basis so we have shared, below, a range of what we are asked about. 

We hope this will be helpful to you. 

Who typically buys Funeral Insurance in New Zealand?

Most commonly people aged 50 plus buy funeral insurance, with the majority being 60 plus. But anyone from age 30 can buy this cover to protect their loved ones.

What are the cover amounts available for funeral covers NZ?

It varies from insurer to insurer but you can buy funeral cover ranging from $5000 to $30000. Cash are paid in cash and can be used for any purpose.  

Can I buy funeral insurance NZ online?

Yes, in fact most funeral cover providers allow online applications as this form of insurance is quite straight forward due to it being guaranteed acceptance without the need for pesky health questions being asked. Applications usually take about 10 minutes after which you can be covered immediately. For those who prefer paper application forms all insurers still allow for that option. 


How easy is it to nominate someone to receive the claim proceeds under a funeral insurance plan?

At the time you apply for a funeral insurance you will nominate a person (or company/trust) to receive the claim proceeds. There are referred to as the beneficiary and you can change this person at any time in writing to the insurance company. 

The beneficiary is typically a spouse, son or daughter or trusted friend. So, it s easy to arrange in the first place or to alter if circumstances later dictate. 

The claim is paid as a cash payout to the beneficiary so please be sure to make them aware of the existance of such funeral cover and for them to know of any specific requriements you have as they will be the ones with the money to pay for everything. 


Do Cigna Funeral Cover, AA Funeral Cover and Pinnacle Life Funeral cover have age cut off period for premiums payments?

With Cigna Funeral Insurance you will pay premiums until age 90. With AA Funeral Cover you also pay premiums to age 90 after which the premiums cease and the cover continues for free. 

Of the 3 insurers the Pinnacle Life funeral plan is the most attractive in terms of this policy benefit as with them you pay premiums until age 85 only. After which cover continues for free. 

Do some funeral plans become free after reaching a certain age?, you only pay for a certain time?, or you never pay more premiums than the cover?

The answer to all 3 is YES. We have access to over 10 main funeral plans and when you complete our online enquiry form we will provide full comparative information so you can make an informed decision on the best funeral insurance for you. 

But yes, some insurers cease premiums at age 85 or 90 with cover continuing for free thereafter. One insurer limits the premiums to the cover amount and another insurer has a funeral fund where you just pay for 10 years and then the cover sits there until needed. Let us advise you on these funeral cover NZ options.   

Cigna Funeral Cover, AA Funeral Insurance, Pinnacle Life funeral plan, what are the age entry points?

The age entry point often varies between funeral cover NZ insurers. 

For the Cigna Funeral Insurance you must be aged between 45 and 80 at the time of purchasing the funeral plan. For the AA Funeral cover it is ages 50 to 79 and for the Pinnacle Life Funeral cover it is ages 30 to 75. 

Other interesting points of difference are that Cigna Funeral Cover and AA Funeral Cover have cover amounts that range from $5000 to $30000 and with the Pinnacle Life funeral plan it is $7500 to $25000.

Pinnacle Life has a significant point of difference in that their funeral plan premiums are paid only until age 85, after which cover continues for free. AA Life Funeral Cover and Cigna Funeral Insurance have a similar benefit but their age cut off is 90 (not 85 at Pinnacle Life).  


Who can be a nominated beneficiary on Funeral Insurance?

The good news is that this can be anyone you choose. And what is more the funeral insurance beneficiary can be changed at any time in the future, at no cost.  

Typically the beneficiary is the spouse or one of the sons or daughters. This is the most common although in some cases people select a family remember slightly more removed where no immediate family exists. You can also nominate a trust or someone like a lawyer, or even a funeral home. Just remember that this funeral cover money is needed promptly so leave it to someone who has the ability to access it and use it immediately as you would have required. 


Why do funeral insurance covers have maximum sum insured amounts of $30000?

Funeral cover is first and foremost designed to provide cover for your funeral expenses. So you ideally need to start with a amount sufficient to pay for the funeral. But funeral insurance providers allow the option of a little extra cash if needed to pay off some smallish incidental debt like a credit card, a loan or to help out of town family members with travel costs. Each funeral plan has a different maximum cover amount available, some have a limit of $15000, some $25000 and one or two at $30000. 


Why is funeral insurance so easy to buy? quick one page applications? no health questions?

The no health questions part is the single main reason funeral cover is so easy to buy. With life insurance or health insurance type applications they are all based around your current and previous health so much time and effort is needed to collect all information going back, right to childhood even. Funeral Insurance is guaranteed acceptance and your health is not subject to the application.

Funeral Insurance, is also by its very nature, intended to be simple as it is a cash payment paid almost immediately just to cover your funeral expenses.


Funeral Insurance plans are available for people of what age?

As far we are aware there are funeral insurance providers out there with funeral plans for those aged 16 to 85.

But each insurer is different eg on the main funeral cover providers say Pinnacle Life you must be 30 to 75 at the time of application, at AA Life it is ages 50 to 79 and Cigna Life 45 to 80. Typically the most common ages for people to consider funeral insurance is in their 60s.







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