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Building on the success of last year’s Life Upgraded campaign and our 40+ product upgrades, we’re delighted to let you know we’re about to update our pricing.
Overall we expect to be more competitive
The good news is overall we expect to be more competitive than before, giving you more reasons to recommend Fidelity Life to customers1.
We’re updating our large sum insured discount rates and reshaping our Trauma rates.
4 key highlights
- Trauma Cover and Trauma Multi Cover
- Monthly Mortgage Repayment Cover which includes the Claims Escalation Option
- Level cover
For lump sums insured of $500,000 and above Life Assurance, TPD and Trauma all benefit from changes to our large sum insured discount. And that’s not all: where the lump sum is accelerated (except for Trauma Multi Cover) the large sum insured discount from the Life cover flows through – this can be up to 20% for amounts $2.5 million or more
Trauma Cover and Trauma Multi Cover
Underlying rates will be reduced by up to 7.5% for ages 28-54
Monthly Mortgage Repayment Cover which includes the Claims Escalation Option
Underlying rates for this combination will be reduced by an average of 7%2
For new business these updates flow through to our level premiums – where level is truly level3
For all the new pricing details, including some increases, please visit our website.
When do the updates come into effect?
New customers: 8 August 2019 - Apollo illustrations will reflect the new pricing from this date. Desktop Apollo users need to download the latest version on this date.
For applications already in the pipeline, in some situations customers will be better off under current pricing. Our new business team will work with you to ensure customers get the best deal.
Existing customers: 1 October 2019 – renewal schedules for customers with YRT policies renewing from 1 October 2019 will reflect the pricing updates, in addition to the usual age and inflation-related increases.
Need more info?
Check out our website for more details. And of course feel free to get in touch with your Business Manager or Business Account Manager, or phone us on 0800 88 22 88 – we’re here to help.
Thanks for your support, we really appreciate it
We know how important it is to be competitive because it means you can give customers options.
We want to make it easier for you to help more Kiwis get protected with NZ’s largest locally owned and operated life insurer and two-time NZ Life Insurance Company of the Year.
Our goal is to set up your business and ours for a sustainable and successful future, with the customer at the centre of everything we do.
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