Fidelity Life is one of New Zealand’s oldest and largest NZ-owned life insurers, having been founded in Auckland in 1973. For New Zealanders who prefer to insure with a locally-owned company rather than an international conglomerate or Australian parent, Fidelity Life is the main option in the life and risk insurance space.
Fidelity Life is NZ's largest NZ-owned life insurer — established since 1973 and a solid, trustworthy option for straightforward life and risk insurance needs. Policy definitions are good but generally rated below Partners Life. Worth getting a quote via a financial adviser, especially if NZ ownership matters to you.
Company Overview
- Founded: 1973 (Auckland)
- Type: NZ-owned life insurance company
- Ownership: NZ ownership — significant NZ institutional shareholders
- Products: Full range of life and risk insurance products
- Distribution: Adviser-distributed (primary) and some group schemes
- Scale: Substantial NZ operation with a long track record
Product Range
Life Insurance
Term life cover with stepped and level premium options. Fidelity Life’s life insurance is straightforward and reliable — suitable for most standard insurance needs.
Trauma Insurance
Covers the core set of serious conditions (cancer, heart attack, stroke and others). Good product for standard needs, though the condition list and definitions are generally rated below Partners Life by specialist advisers.
Income Protection
Illness-related income cover (ACC covers injury). Own occupation definition available. Competitive for standard occupation classes.
TPD Insurance
Total and permanent disability cover. Own and any occupation options available.
Mortgage Repayment Cover
Specific cover designed to meet mortgage repayments during a disability period.
Business Insurance
Key person cover, buy/sell insurance for business owners.
Pricing
Fidelity Life is priced competitively — often positioned between the market’s cheaper options and Partners Life’s premium pricing.
Approximate monthly premiums for $500,000 life insurance, 40-year-old non-smoking male: approximately $70–$95/month, depending on premium type (stepped or level) and underwriting.
Pros
- NZ-owned: One of very few NZ-owned options in the life insurance market. If you want to keep your premiums in NZ rather than offshore, Fidelity Life is the option
- Established since 1973: Over 50 years of operating in the NZ market — a long and stable track record
- Solid product range: All standard risk products available
- Good for standard cases: For straightforward situations (standard age, health, occupation), Fidelity Life performs well
- Competitive pricing: Generally priced at or below Partners Life and AIA for similar cover
- Group schemes: Strong in the employer group insurance space
Cons
- Policy definitions: Generally rated below Partners Life by specialist NZ risk advisers — the policy wording is less claimant-friendly in some areas
- Less adviser recommendation: Partners Life and AIA have stronger adviser backing in independent surveys for complex insurance needs
- Smaller scale than AIA: Less global financial backing than AIA Group (though NZ financial strength remains solid)
- Digital tools: Technology platform is less advanced than some competitors
Who Should Consider Fidelity Life?
- NZ ownership advocates: Those who specifically want to insure with a NZ-owned company
- Standard risk profiles: If you’re healthy, in a standard occupation, and have straightforward insurance needs, Fidelity Life is a solid, cost-effective option
- Group scheme members: If your employer offers Fidelity Life group cover, the group rates can make it excellent value
- People wanting an established NZ institution: Over 50 years of NZ operation counts for something
Fidelity Life vs Partners Life vs AIA
| Factor | Fidelity Life | Partners Life | AIA NZ |
|---|---|---|---|
| NZ ownership | Yes | No (Dai-ichi Japan) | No (AIA Group HK) |
| Policy definitions | Good | Market-leading | Good |
| Price | Competitive | Slightly higher | Competitive |
| AIA Vitality | No | No | Yes |
| Financial strength | Solid | Strong | Exceptional (global) |
| Adviser recommendation | Good | #1 rated | Strong |
Verdict
Fidelity Life is a trustworthy, established NZ option for life and risk insurance. It won’t be the adviser’s first recommendation for complex cases where policy definition quality is paramount — Partners Life holds that position — but for standard insurance needs and for those who value NZ ownership, Fidelity Life is a completely solid choice.
Best for: NZ ownership advocates, standard risk profiles, and group scheme members.
→ Compare: Partners Life Review | AIA NZ Review | Best Life Insurance NZ → Back to Insurance in NZ