Scheme Implemented

Foundation Life (FLNZ) is pleased to confirm that the Scheme was successfully implemented on 1 September 2025.

All FLNZ Whole of Life and Endowment policies have now been cancelled. Eligible New Zealand resident policyholders have either chosen or defaulted to one of the following options:
•    A replacement life insurance policy with Chubb Life
•    A cash payment, which FLNZ is now processing and paying (subject to receipt of the required documentation)
•    A combination of the above, with an emphasis on either cash or the replacement life insurance policy

Overseas resident policyholders were only eligible for the cash payment option.

Policyholders who selected or defaulted to a replacement life insurance policy with Chubb Life now have life cover, effective from 1 September 2025. Chubb Life has begun issuing policy documents and these are being sent directly to policyholders.

Policyholders should now contact Chubb Life directly for any queries at 0800 900 047 or This email address is being protected from spambots. You need JavaScript enabled to view it..

All Whole of Life and Endowment unsettled claims, as well as Term policies, have been transferred to Chubb Life through an IPSA section 44 Transfer process approved by the Reserve Bank of New Zealand. Chubb Life is in the process of contacting affected policyholders and settling outstanding claims (subject to receipt of required documentation).

Final Values and Cash Payments

FLNZ has completed the valuation process to determine final cash values as at 1 September 2025. Policyholders receiving cash payments are now being sent letters confirming their final values and outlining the required documentation for payment. Payments have commenced and will continue as documentation is received and verified.