Currently the group offers policies which cover the costs of medical care and contribute to surgery costs. It also has a travel insurance business.
To add other life insurance products Southern Cross has to change its rules.
It has started down this track by putting a resolution into its annual meeting which is due to be held next month.
Members will be asked to vote on a rule change to allow the society to offer a "broader range of competitive and affordable products and benefits."
Members have been told that this could include critical illness cover.
"The resolution going to the Southern Cross AGM is an indication that we are contemplating options to provide additional health insurance products or benefits that might include the payment of lump sum amounts," Southern Cross Group Chief Executive Ian McPherson says, in a statement.
"Critical illness plans would be a possible example of a product offering lump sum benefits. This would represent a logical extension to our product range and one where we think our not-for-profit philosophy would enable us to offer great value to members. This is a direction Southern Cross will explore further in 2010."
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