Find the answers you’re looking for in our most commonly asked questions. They’re designed to give you general information about Seniors Funeral Insurance, but they don’t replace your insurance contract, the Policy Document or your Certificate of Insurance.
Funeral Insurance FAQsFrequently Asked Questions
Who can get Seniors Funeral Insurance?
If you’re a New Zealand resident aged 18 to 79, you’re eligible to apply for Seniors Funeral Insurance with guaranteed acceptance.
Are there any exclusions?
During the first year of your Seniors Funeral Insurance policy, we’ll only pay a benefit for an accidental death or accidental serious injury. After that, we’ll pay the benefit for death by any cause. Note the accidental serious injury benefit expires age 75. Please refer to the Policy Document for a full list of exclusions.
How do I get cover?
Getting cover with New Zealand Seniors is easy. All it takes is a quick phone call with one of our customer service consultants who can provide you with an obligation-free quote. There are no medicals or blood tests required to apply.
Do I need to be tested before taking out funeral insurance?
No. There are no medical or blood tests to take, and no intrusive questions about your health to answer.
How long can I keep my cover?
Seniors Funeral Insurance expires when you reach 100 years of age. When this happens, your policy will end and your entire benefit amount will be paid to you.
How much cover can I get?
You can choose a level of cover that suits you from $3,000 up to $30,000.
Can I decide who receives my benefit?
Yes, you can nominate someone to receive your insurance benefit by calling us or 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 law.
Can I pay my premium by credit card?
Yes. We accept Visa or MasterCard. We also accept payment by direct debit from your bank, credit union or building society account.
Am I covered while I’m overseas?
You’re covered for Seniors Funeral Insurance wherever you are in the world if you’re a New Zealand citizen or permanent resident and live in New Zealand. You must not have plans to move overseas, when you apply.
If you take out your cover while you’re on a temporary work visa in New Zealand, but then move overseas, we will cancel your Policy.
Is funeral insurance expensive?
You may find Seniors Funeral Insurance cost-effective. For example, if you’re a male, non-smoker aged 60 and take out a policy with a $3,000 benefit, you’ll pay just $4.10 per week. Premiums can be paid fortnightly, monthly or annually.
Your premiums won’t go up every year based on age, which may help you manage the cost of funeral insurance. Plus, when you turn 85, you’ll no longer need to pay any more premiums, so your policy will remain active at no further cost to you.
Keep in mind there’s no refund of premiums after the cooling off period and the total amount of premiums payable over the life of the policy has the potential to exceed the cover amount.
See all product details for Seniors Funeral Insurance here
What does ‘Accidental Death’ mean?
An ‘Accidental Death’ is a death that happens solely because of an ‘Accident’, within 90 days of the accident happening.
Do I get my money back if I cancel my policy?
There’s a 30-day cooling off period from the day your Policy starts, to give you the opportunity to make sure you’ve chosen the right cover for you. If you cancel your Policy in this period without having made a claim, we’ll give you a full refund of premiums paid.
However, Seniors Funeral Insurance is not a savings or investment plan. This means you won’t receive a benefit or have any premiums refunded if your cover is cancelled after the 30-day cooling off period. If you’ve chosen a yearly payment option, we’ll refund on a pro-rata basis the unused portion of your premium. If you’re over 85 years of age when you cancel your cover you’ll be eligible for the Early Cash Out Option.
Will my premium increase over time?
Your premium is a level premium designed not to increase each year with your age, provided you don’t change your level of cover. After age 85, your cover will continue at no further cost. Keep in mind there’s no refund of premiums after the cooling off period and the total amount of premiums payable over the life of the policy has the potential to exceed the cover amount.
Can I cancel funeral insurance?
Yes. Seniors Funeral Insurance has a 30-day cooling off period from the day your policy starts. If you cancel your policy in this period without having made a claim, we’ll give you a full refund of premiums paid. However, you won’t receive a benefit or have any premiums refunded if your cover is cancelled after the 30-day cooling off period. If you’ve chosen a yearly payment option, we’ll refund on a pro-rata basis the unused portion of your premium.
If you’re 85 years of age or over when you cancel your cover, you’ll be eligible for the Early Cash Out Option and receive 75% of your cover amount paid to you. Note that as you’ve cancelled your policy, you’ll no longer be eligible to claim.
Who is the insurer?
Seniors Funeral Insurance is issued by Pinnacle Life, a New Zealand insurer. Pinnacle Life has been operating in the New Zealand market since 1998, so you know you’re backed by a company you can trust.
What if I have another question?
Can I cover my partner too?
Yes – you may purchase a joint-policy which covers both you and your partner. However, you can only do this when setting up your policy for the first time. You won’t be able to add your partner to your policy at a later date. If you do want to add your partner later, you’ll need to cancel your existing policy and apply for a new one to include your partner or take out a separate policy for them.
How can we help?
To find out more about New Zealand Seniors,
speak to one of our friendly insurance specialists now