# Claim payment options > How the policy pays on a claim — lump-sum vs. instalments, advance payment for terminal illness, funeral-cost advance. This page documents each insurer's claim-payment terms verbatim. **Vertical:** life · **Topic:** claim-payment-options · **Snapshot:** 2026-05-20T08:21:45.034Z **Source:** Each product's policy wording PDF (linked per row). License: CC BY 4.0 — attribute https://lifeinsurer.co.nz. --- ## AIA New Zealand — AIA Living Business Life Cover **Wording version:** 2023-10-10 · **Confidence:** verified > AIA will pay the Life Cover Benefit as a lump sum as soon as satisfied with all information presented at the time of making a claim. The Terminal Illness Benefit (up to 100% of Life Cover Benefit) and Repatriation Benefit are treated as early payments of the Life Cover Benefit, which is then reduced by the amount paid. The Specified Terminal Conditions Benefit is treated as an early partial payment of the Life Cover Benefit, with premium adjusted to reflect reduced cover. **Endpoints:** - Structured facts: https://lifeinsurer.co.nz/api/product/aia/living-business-life/facts.json - Full wording: https://lifeinsurer.co.nz/api/product/aia/living-business-life/wording.md - Source PDF: https://www.aia.co.nz/content/dam/nz/en/docs/our-products/policy-wordings/aia-living/business/aia-living-business-life-cover-policy-wording.pdf --- ## AIA New Zealand — AIA Living Personal Life Cover **Wording version:** 2026-05-17 · **Confidence:** inferred > Life Cover Benefit is paid as a lump sum upon death. Terminal Illness Benefit (up to 100% of Life Cover Benefit) is treated as an early payment of the Life Cover Benefit, reducing it by the amount paid. Specified Terminal Conditions Benefit (lower of 30% of Life Cover Benefit or $250,000) is treated as an early partial payment of the Life Cover Benefit, reducing it by the amount paid; premium adjusts to reflect reduced cover. Bereavement Support Benefit ($15,000 or Life Cover Benefit, whichever is lower) is treated as an early payment of the Life Cover Benefit, reducing it by the amount paid. Repatriation Benefit (5% of Life Cover sum assured, up to $20,000) is treated as an early payment of the Life Cover Benefit, reducing it by the amount paid; may be paid in addition to Bereavement Support Benefit but combined payments will not exceed the Life Cover sum assured. **Endpoints:** - Structured facts: https://lifeinsurer.co.nz/api/product/aia/living-personal-life/facts.json - Full wording: https://lifeinsurer.co.nz/api/product/aia/living-personal-life/wording.md - Source PDF: https://www.aia.co.nz/content/dam/nz/en/docs/our-products/policy-wordings/personal/aia-living-personal-life-cover-policy-wording.pdf --- ## Asteron Life — Asteron Life Complete – Life Cover **Wording version:** 2024-10-14 · **Confidence:** brochure > We normally make the payment to your nominated bank account within two days after we receive the claim. **Endpoints:** - Structured facts: https://lifeinsurer.co.nz/api/product/asteron-life/complete-life/facts.json - Full wording: https://lifeinsurer.co.nz/api/product/asteron-life/complete-life/wording.md - Source PDF: https://www.asteronlife.co.nz/sites/default/files/documents/life-brochure.pdf --- ## Chubb Life NZ — Life & Living Insurance **Wording version:** 2026-05-17 · **Confidence:** verified > We'll pay claims to you in New Zealand dollars to the bank account you chose. We may agree to pay claims to someone else if you ask us in writing. If you have overdue premiums and you make a claim, we'll take the overdue amount from our claim payment to you. Some covers may involve ongoing monthly claim payments. Accelerated cover payments may reduce the remaining sum insured of Life Cover or other accelerated covers by the amount paid. **Endpoints:** - Structured facts: https://lifeinsurer.co.nz/api/product/chubb-life/life-and-living/facts.json - Full wording: https://lifeinsurer.co.nz/api/product/chubb-life/life-and-living/wording.md - Source PDF: https://www.chubb.com/content/dam/chubb-sites/chubb/nz-en/life/documents/chubb-life-and-living-insurance-policy-document-1.pdf --- ## Chubb Life NZ — LifeOne **Wording version:** 2026-05-17 · **Confidence:** verified > Lump sum payment to the policy owner or the policy owner's estate. Terminal Illness Benefit paid as an advance of the Life Cover Amount (up to a maximum of $500,000); if equal to the Life Cover Amount the policy ends, if less the remaining Life Cover Amount is paid on death. Advanced Funeral Benefit paid as an advance of the lesser of 5% of the Life Cover Amount or $15,000, reducing the Life Cover Amount by the amount paid. Critical Illness Benefit paid as a lump sum reducing both the Critical Illness Cover Amount and the Life Cover Amount by the amount paid; Coronary artery angioplasty limited to the lesser of 20% of the Critical Illness Cover Amount or $20,000; Early stage cancer limited to the lesser of 10% of the Critical Illness Cover Amount or $20,000; Early stage chronic lymphocytic leukaemia limited to the lesser of 20% of the Critical Illness Cover Amount or $20,000. **Endpoints:** - Structured facts: https://lifeinsurer.co.nz/api/product/chubb-life/life-one/facts.json - Full wording: https://lifeinsurer.co.nz/api/product/chubb-life/life-one/wording.md - Source PDF: https://www.chubb.com/content/dam/chubb-sites/chubb/nz-en/life/documents/cig0276-life-one-policy-wording-v1.pdf --- ## Fidelity Life — LifeProtect Life Cover **Wording version:** 2025-04-30 · **Confidence:** inferred > Benefits are paid as a lump sum. The Bereavement Benefit provides an immediate advance payment of $15,000 (or the full sum insured if it is $15,000 or less), which reduces the Life Cover sum insured by the amount paid. The Terminal Illness Benefit is an advance payment of the full Life Cover sum insured, after which the cover ends. The Terminal Illness Partial Benefit allows early payment of the lesser of 30% of the sum insured or $250,000 for specified serious conditions, reducing the sum insured by the amount paid. The Repatriation Benefit and Financial Planning and Legal Advice Benefit are reimbursements paid in addition to the Life Cover sum insured. **Endpoints:** - Structured facts: https://lifeinsurer.co.nz/api/product/fidelity-life/lifeprotect/facts.json - Full wording: https://lifeinsurer.co.nz/api/product/fidelity-life/lifeprotect/wording.md - Source PDF: https://www.fidelitylife.co.nz/media/rhwnwmfn/life-protect-life-cover-policy-wording.pdf --- ## Partners Life — YouChoose Life Cover **Wording version:** 2025-10-08 · **Confidence:** brochure > Pays a lump sum that can be used to help reduce debt, pay for final expenses, provide an inheritance – how the money is spent is up to you. **Endpoints:** - Structured facts: https://lifeinsurer.co.nz/api/product/partners-life/youchoose-life/facts.json - Full wording: https://lifeinsurer.co.nz/api/product/partners-life/youchoose-life/wording.md - Source PDF: https://assets.ctfassets.net/w9dpej1et86g/1hVGlncuv1m8J6Po7GddeY/62615dca5c8cbde4b2b7db201693d78f/PLJP_OVERVIEW_LIFE_COVER_V01_1025.pdf --- **7** of 7 indexed products have on-file cover language for this topic. **Canonical URL:** https://lifeinsurer.co.nz/topics/claim-payment-options