Partners Life is a specialist New Zealand life and health insurer, backed by Japanese giant Dai-ichi Life Holdings. Known for its adviser-only model and "if it's grey, we will pay" claims philosophy, we've assessed ratings from Trustpilot, Lewers Research, and industry awards to give you the full picture.
In This Review
What is Partners Life and who's behind it?
Partners Life is a specialist New Zealand life and health insurer, founded in 2011 by Naomi Ballantyne - previously a founding employee of Sovereign and founder of Club Life (now OnePath Life). Ballantyne retired as Managing Director in March 2024 and was made an Officer of the New Zealand Order of Merit (ONZM) in the 2017 New Year Honours for services to business.
In November 2022, Partners Life was acquired by Japanese life insurance giant Dai-ichi Life Holdings for approximately NZD $1 billion. The acquisition provides significant capital backing and has contributed to an upgrade of Partners Life's financial strength rating from A- to A (Excellent) from A.M. Best.
Headquartered in Auckland, Partners Life employs 170+ staff and insures over 130,000 lives. The company reported $427.9 million in annual premiums (as of March 2022) and has paid over $328 million in claims since inception, with $85.5 million paid in the April 2022 to March 2023 period alone. Their claims approval rate stands at 89%.
Partners Life operates an adviser-only distribution model and offers the following products:
Partners Life sells policies exclusively through approved financial advisers - not directly to consumers online. To get a quote, you need to contact a licensed financial adviser who works with Partners Life products.
How customers rate Partners Life across available review platforms
Note on limited review data: Partners Life has very few public consumer reviews on platforms like Trustpilot and Google. This is largely because their adviser-only model means customers interact primarily with their financial adviser rather than the insurer directly. The Lewers Research 5-star rating and ANZIIF awards provide a more reliable indicator of service quality. We do our best to keep all data up to date and accurate. If you've noticed something incorrect, please let us know.
Common themes from adviser and customer feedback on Partners Life
Partners Life paid my critical illness claim promptly and without fuss. The adviser guided me through everything and the money was in my account within three weeks of diagnosis.
The built-in benefits are exceptional - premium holiday, bereavement advance, counselling cover, repatriation assistance. These come standard with no extra charge.
I appreciate the 'if it's grey, we will pay' approach. It gives genuine confidence that a claim won't be declined on a technicality.
The biggest drawback is you can't get a quick quote online. Everything goes through an adviser, which adds time if you just want to compare prices.
Had issues with a claim related to a policy migrated from BNZ. The process was confusing and communication was poor during the transition period.
Dai-ichi Life backing gives real financial security. The A.M. Best upgrade to A (Excellent) confirms this is a well-capitalised insurer that will be around long-term.
Reviews are paraphrased summaries of adviser and customer feedback. Theme percentages are based on our analysis of available industry surveys, Lewers Research data, and public reviews as of March 2026.
Partners Life is a specialist life and health insurer - they do not offer general insurance products
Core life cover with lump sum payment on death or terminal illness, plus Accidental Death Cover and Life Income Cover that provides monthly payments to beneficiaries.
Private Medical Cover including surgical, accommodation, transport, drug/radiotherapy, medical tourism, and Medsafe-approved medications. Also offers Specific Condition Cover and Hospital Cash Cover.
Monthly benefit if unable to work due to illness or injury. Available as short-term cover or ongoing through to retirement age. Covers a percentage of your regular income.
Lump sum payment on diagnosis of a covered critical illness. Three tiers available - Trauma Cover, Moderate Trauma Cover, and Severe Trauma Cover - with 48+ covered conditions.
TPD Cover provides a lump sum if you become totally and permanently disabled and unable to work. Can be bundled with life cover for comprehensive protection.
Business risk protection products for key person cover, shareholder protection, and business debt cover. Tailored through advisers for business-specific needs.
The good and the not-so-good based on industry feedback and our analysis
How much does Partners Life cover actually cost? Indicative examples based on market analysis
Partners Life does not offer an online quoting tool. All pricing is delivered through financial advisers who tailor cover to individual circumstances. Premiums vary based on age, health, occupation, smoker status, and cover level. Here are indicative monthly premiums based on industry benchmarks for common profiles:
Disclaimer: These are indicative estimates based on publicly available industry benchmarks and market analysis, not official Partners Life quotes. Your actual premium will vary based on your specific health, occupation, and cover requirements. Contact a licensed financial adviser for an accurate quote. We do our best to keep all data up to date and accurate. If you've noticed something incorrect, please let us know.
Premiums increase significantly with age. Locking in cover younger typically means lower long-term costs.
Pre-existing conditions, family medical history, and current health status all affect underwriting and premium levels.
Higher-risk occupations (trades, manual labour) attract higher premiums than office-based roles.
Smokers pay significantly higher life and health insurance premiums - often 50-100% more than non-smokers.
Higher sum insured and broader cover types (life + trauma + income protection) cost more than standalone life cover.
Partners Life offers a Loyalty Premium Discount of 1-10% based on how long you've held your policy.
Partners Life vs. other NZ life and health insurers
| Feature | Partners Life | AIA NZ | Asteron Life | Fidelity Life | Cove |
|---|---|---|---|---|---|
| Overall Rating | 3.6/5 Limited reviews | 3.5/5 | 3.4/5 | 3.7/5 | 4.7/5 2,381 reviews |
| Life Cover | Yes | Yes | Yes | Yes | Yes |
| Health Cover | Yes | Yes | Yes | Yes | No |
| Trauma Cover | 48+ conditions | Yes | Yes | Yes | No |
| Online Quotes | Adviser only | Adviser only | Adviser only | Adviser only | Instant |
| Distribution | Adviser only | Adviser + direct | Adviser only | Adviser + direct | Direct online |
| Financial Strength | A (Excellent) | A+ (Superior) | A+ | A- | N/A |
| General Insurance | No | No | No | No | Car & Pet |
Disclaimer: Ratings are based on available review data and industry assessments. Features may change - verify directly with the insurer or your financial adviser. We do our best to keep all data up to date and accurate. If you've noticed something incorrect, please let us know.
Other NZ life and health insurers worth considering, depending on your priorities
One of NZ's largest life insurers with both adviser and direct channels. Part of the AIA Group, one of the world's largest life insurance groups. Offers life, health, trauma, income protection, and the Vitality wellness programme.
Now part of Resolution Life following the completion of its sale from Suncorp Group in January 2025. Specialist life and health insurer with a comprehensive product range. Adviser-only distribution model similar to Partners Life.
NZ-owned life insurer offering both advised and direct products. Known for straightforward online applications and competitive pricing on term life cover.
Digital-first insurance brand offering life insurance alongside car and pet cover. Fully online experience with instant quotes and no lock-in contracts. May suit those who prefer a direct, digital approach.
Partners Life may suit some customers more than others
The combination of life, trauma, income protection, and health cover with generous built-in benefits makes Partners Life well-suited for families wanting thorough protection.
If you prefer personalised advice tailored to your situation rather than a DIY online approach, Partners Life's adviser-only model means every policy is professionally structured.
The "if it's grey, we will pay" philosophy, 89% claims approval rate, and consistent 5-star Lewers rating provide strong claims confidence.
Those wanting general insurance (car, house, contents), quick online quotes without adviser involvement, or the absolute lowest price on basic term life cover.
Compare.org.nz's editorial assessment of Partners Life
With its "if it's grey, we will pay" approach, consistent 5-star Lewers Research rating, and A (Excellent) financial strength from A.M. Best, Partners Life is a strong specialist option for NZ life and health insurance. The Dai-ichi Life backing provides genuine financial security.
The adviser-only model is both a strength and a limitation. On one hand, policies are professionally tailored to individual needs. On the other, it means no quick online quotes and an additional step in the buying process. The very limited public review data (just 2 Trustpilot reviews) makes it harder to assess real-world customer experience compared to insurers with thousands of public reviews.
For customers who value comprehensive built-in benefits, strong claims handling, and professional adviser guidance - particularly families and business owners - Partners Life is well worth considering. Those who prefer a fully digital, direct-to-consumer experience may find alternatives like the insurance brand Cove or Fidelity Life more suitable.
Common questions about Partners Life
How we research and rate insurance companies
This review is based on data collected from the following sources, last verified in March 2026:
Our editorial scores (out of 10) are calculated using a weighted methodology that considers:
Disclaimer: Nothing on this page constitutes financial advice. Scores are editorial opinion based on publicly available data. Always verify details directly with your insurer or financial adviser and consider seeking professional advice for your specific situation. We do our best to keep all data up to date and accurate. If you've noticed something incorrect, please let us know.
See how Partners Life stacks up against other NZ life insurers. Compare options and find the right cover for your needs.
Compare Now →