Compare life insurance policies

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When you're getting cover for your life and the people who are part of it, you shouldn't have to settle or take a guess. This table is a guide to help compare our product against similar life insurance products available in New Zealand. Read on to compare some features and benefits across a range of products.

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Product feature	OneChoice Life Insurance	Insurer A	Insurer B	Insurer C	Insurer D
Age eligibility to apply	16 - 70	18 - 70	16 - 59	18 - 65	16 - 70
Joint cover available
Lifetime cover
No medical or blood test to apply				Depending on disclosure	Depending on disclosure
Free interim accidental death cover				Up to $500,000
Maximum benefit amount	$2 million	$1.5 million	$1 million	$1 million	$2 million
Advanced funeral or tangi payment	$10,000	$25,000	$15,000	$10,000 (must hold policy for 24 months)	$25,000
Terminal illness benefit	100% on diagnosis	100% on diagnosis	100% on diagnosis	100% on diagnosis	100% on diagnosis
Serious illness option	Optional add on, up to $500,000	Optional add on, up to $1 million			Optional add on
TPD option	Optional add on, up to $1 million				Optional add on
Apply to increase benefit amount
Increase benefit amount after life events without answering any underwriting questions		Up to $250,000 per event	Up to $200,000 per event		Up to $250,000 per event Only one per 12 months

This information is accurate as at 31 July 2024. 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. Continuous cover, maximum benefit amount, Serious Illness and TPD options are dependent on your age and underwriting outcome at time of application.

OneChoice - the Kiwi choice

We look out for our family too (that’s you). With OneChoice, you can take on life with confidence, knowing we’ve got you covered.

Applying without a medical or blood test

You might get asked to undergo a medical exam or blood test when you apply for life insurance with some providers. This is done to assess your health before you take out cover and to help insurers keep their premiums low. But keep in mind that this can make the process of applying take longer than usual, not to mention the added stress if you don’t like needles or other invasive procedures.

If you’d rather do it the easy way, some insurers let you apply over the phone by asking you health and lifestyle questions, without having to undergo any formal medical tests. That can end up saving you a lot of time and let you get covered sooner. On top of that, you won’t have to sit in the clinic’s waiting room reading outdated magazines.

In our comparison, only two insurers in New Zealand allow you to apply for their maximum cover amounts without a medical exam or blood test – OneChoice and Insurer D. However, it’s also worth considering the maximum cover amount offered by these two providers. Insurer C also allows applications online of up to $1.5 million without the need for a medical, however to get the maximum cover amount of $2 million a medical is required.

Free interim accidental death cover

Under certain conditions, you might be eligible for temporary accidental death cover at no extra cost. This is a great way to make sure you’re covered for an accidental death before your life insurance policy has kicked in. This benefit is only offered by two providers in the market – OneChoice and Insurer D. You’ll need to check each provider’s website and Policy Document for everything you need to know about eligibility.

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Maximum cover amount

Setting the right cover amount can make a big difference when it comes to you or your family coping with life’s financial speedbumps. When you think about your family’s current and future finances, as well as the kind of lifestyle you want for them when you’re gone, you might find that your loved ones need a higher cover amount to take on all the expenses coming their way. Most providers in New Zealand currently offer a maximum of $1 million in cover, but that amount is doubled if you go with OneChoice or Insurer C. This means you can get a maximum cover amount of $2 million (depending on your age) on your policy, letting you plan the future you and your loved ones deserve.

Optional extras for more peace of mind

If you’re thinking about life insurance, it’s important to think about what else can happen to your life besides dying. A serious illness or a lifelong disability could bring on just as many financial challenges for your loved ones. Even if you’re living alone and don’t have kids or a partner to support, the cost of medical treatment and other long-term expenses can put a big dent in your plans for the future.

If you’re after even more peace of mind, you can consider adding optional Serious Illness or Total & Permanent Disability (TPD) cover to your life insurance policy. These aren’t available with every policy so it’s a good idea to compare what options are available in case your needs change in the future. OneChoice, Insurer A, and Insurer C all offer serious illness cover as an optional add-on.

However, only one provider in the direct market offered TPD insurance. OneChoice Life Insurance has optional TPD cover, with a flexible cover amount up to $1 million (depending on your age) in case you suffer a pre-defined disability that stops you from living independently, helping you or your family take on even more of life’s curveballs.

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What you get with OneChoice Life Insurance:

Cover for NZ residents aged 16 – 70

Whether you’re a pro at life or just getting started, with OneChoice, you can be confident you and your loved ones will be financially protected. So once your cover is in place, it will continue for the term of your policy, as long as you continue to pay your premiums.

Lower premiums based on your lifestyle

Get rewarded for living right with lower starting premiums for non-smokers. Lock in your cover today to look out for your health tomorrow.

Flexible cover amount

You wouldn’t buy clothes that don’t fit you well so why should your insurance be any different? With OneChoice, you can choose a cover amount – from $100,000 to $2 million depending on your age and underwriting outcome.

Advance funeral payout

We’ll pay $10,000 to help with funeral or tangi costs, so loved ones can honour your life as memorably as you lived it. No worries.

Cover for terminal illness

Don’t let life take you by surprise. We’ll pay you 100% of your benefit if you’re diagnosed with a terminal illness.

Cover for death, however it happens

Stop worrying about losing your life and focus on enjoying it! With OneChoice, you’re covered for death by any cause from day 1 in most cases (exclusions apply, depending on your circumstances). Nice!

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