FLNZ Scheme of Arrangement (Scheme)

The Foundation Life (FLNZ) Scheme was successfully implemented on 1 September 2025.

All FLNZ Whole of Life and Endowment policies are now cancelled. Eligible New Zealand resident policyholders have received 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 received a cash payment entitlement under the Scheme.

Policyholders who received a replacement life insurance policy with Chubb Life have life cover effective from 1 September 2025. Chubb Life has issued new policy documents to policyholders.

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 has contacted affected policyholders and is settling outstanding claims (subject to receipt of required documentation).

Policyholders can 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..

Policyholders receiving cash payments are being paid by Foundation Life as the required documentation is received and verified.