Seniors Funeral Insurance

Seniors Funeral Insurance is one way you can protect your loved ones from your funeral costs.

Your loved ones can use your funeral insurance payout for all final expenses – whether it’s honouring your memory with a funeral service or taking care of your financial affairs, such as credit card debt or bills.

Benefits of choosing Seniors Funeral Insurance

Choose a level of cover that suits you

Seniors Funeral Insurance pays a lump sum to your family from $3,000 to $30,000 upon your death, with cover for Accidental Death only in the first 12 months.

Seniors Reward

We’ll refund 10% of premiums you’ve paid in the first 12 months of your Policy, after your first policy anniversary.

Guaranteed cover

Guaranteed cover for New Zealand Residents aged 18–75, and a 30-day money back guarantee.

Quick payout to your family

Claims are usually paid within one business day¹, so you can be sure your family has the financial help they need with little fuss.

Triple benefit for Accidental Death

From the day your Policy starts, your loved ones will receive triple your benefit amount if your death is the result of an accident – up to $90,000.

Getting cover is easy

Get covered in minutes over the phone with no medical exams or blood test required.

You decide what happens

You’re in control of who receives your benefit payout. Simply nominate one or up to five beneficiaries to split the money between.

Set up payments to suit your budget

Pay premiums on your Visa or MasterCard fortnightly or monthly on any date that suits your needs.

Covered 24/7 anywhere in the world

You’re covered 24 hours a day, seven days a week, wherever you are in the world, if you’re a New Zealand citizen or permanent resident and live in New Zealand.

See more benefits

Our Seniors Promise

When you take out Seniors Funeral Insurance, we make this promise to you:

Your premiums will reduce by 5% for every five years you hold your Policy.

When the time comes, your family will receive your covered amount or all of the premiums you’ve paid in for your cover – whichever is greater.

Once you turn 85, you can choose to cancel your cover to receive an Early Cash Back payment of your chosen benefit amount.

Compare Funeral Insurance Products

The following table shows you how Seniors Funeral Insurance compares against similar products available from other insurers.

Benefits New Zealand Seniors Insurer B Insurer C Insurer D
Eligibility from age 18 Yes18–75 yrs No40–75 yrs No50–75 yrs No50–80 yrs
Accidental Serious Injury coverCover for defined significant life-changing events caused by an accident, up until the age of 75 YesAt no extra cost No No No
Accidental Death only period Yes12 months No24 months No24 months No24 months
Early Cash BackOnce you turn 85, you can choose to cancel your cover to receive an Early Cash Back payment of your chosen benefit amount Yes No No No
Reducing premiumsPremiums reduce by 5% every 5 years Yes No No No
Premium back promiseWhen the time comes, your family will receive the covered amount or all of the premiums you’ve paid for your cover – whichever is greater Yes No No No
Triple payment for Accidental DeathIf death is as a result of an Accident, the beneficiary will receive 3 times the Funeral Insurance benefit amount Yes No No No
Cover for life YesNo premiums after age 90 YesNo premiums after age 89 YesNo premiums after age 85 YesNo premiums after age 90
10% of premiums refunded after first 12 months Yes No No No

This information is accurate as at 31 March 2019. This table compares a sample of policy features, but does not compare all aspects of each policy. There are also other policies available that have not been compared. Each insurer charges different prices for their cover, however, you should also consider the premium structure that is available. Policies which have a lower premium in the first year of cover may not always be cheaper over the long term.

Things you should know

  • If you change your cover your premiums will be affected.
  • If your policy is cancelled prior to age 85, no benefit amount is payable.
  • This is not an investment product and there is no refund of premiums after the cooling off period.
  • If you choose the Early Cash Back option, you will no longer be eligible to claim and you may receive less than the total premiums you’ve paid into your policy to date.

Understanding funeral insurance

Make better decisions with information at your fingertips.

Funeral insurance is a financial helping hand you can provide your family in the future to cover any immediate expenses when you pass away, such as a funeral service.

The average funeral in New Zealand costs $8,000–10,000.² Discover potential expenses your family may face.

Calculate the average cost of a funeral or tangi in your area – it’s fast, free, and based on in-depth research.

Funeral insurance is an important consideration for those who want to financially protect their family from their funeral and final expenses.

Why New Zealand Seniors

Seniors deserve insurance cover that delivers real value – providing ultimate control and peace of mind. Discover more about New Zealand Seniors.

Peace of mind

Your policy is insured by Pinnacle Life, who have been insuring New Zealanders for over 20 years.

Reliable & knowledgeable

Specialised in insurance for the over 50s.

Simple solutions

Financial protection that’s simple to use and understand.

We care

Helping protect your loved ones with quality product and service.

Need more help deciding?

Request a FREE information pack

Everything you need to know about funeral insurance

Frequently asked questions

What is funeral insurance?

Funeral insurance is a financial helping hand you can provide for your family in the future. When you pass away, your family will receive a lump sum benefit payout they can use to cover any immediate expenses, such as a funeral service or any outstanding bills. Learn more about funeral insurance.

Can I end up paying more in premiums than my loved ones will receive?

No. Our Seniors Promise ensures that the benefit your family receives will never be less than the premiums you pay for each life insured under the Policy, so long as you continue to pay your premiums and don’t adjust your benefit amount. We’ll pay either your chosen benefit amount, or the total of the premiums you’ve paid – whichever is more.

Is funeral insurance better than saving money into a bank account?

Seniors Funeral Insurance will pay you the full amount you’re insured for regardless of how much you’ve paid into the Policy. If you end up paying more than the benefit amount, your loved ones will receive the total amount of premiums paid. If you choose to instead save funeral money into a bank account, your family will only have access to whatever you’ve been able to save in that time.

Are there any exclusions?

During the first year of your Seniors Funeral Insurance Policy, we’ll only pay a benefit for death caused by an Accident. After that, we’ll pay the benefit for death by any cause. Please refer to the Policy Document for a full list of exclusions.

Will my premium increase over time?

No. Your premium is guaranteed never to increase if you don’t change your level of cover. In fact, your premiums will reduce by 5% for every five years you continue to hold your Policy.

Can I decide who receives my benefit?

Yes, you can nominate someone to receive your insurance benefit by completing the Nomination of Beneficiaries Form at the back of the Policy Document. You can even choose to split the money between up to five beneficiaries.

If you don’t choose anyone to receive your benefit, it will go to the policy owner. If that’s you, the benefit will be paid to your legal personal representative (usually your Estate) or to another eligible person in accordance with New Zealand legislation.

Download Beneficiary Nomination form

  1. From the time completed documentation is received.
  2. Funerals & registration of death – Citizens Advice Bureau NZ 

How can we help?

To find out more about New Zealand Seniors,
speak to one of our friendly insurance specialists now