August 2020.
On point

August 2020.

Welcome to On Point for August.

We hope your first week under the new alert levels has gone OK. As we mentioned last week, it’s largely business as usual. Even though we’ve closed our office in Auckland and are all working from home, you shouldn’t experience any disruption to our usual service levels.

In this issue we’ve got an update on Medscreen and some reminders on how we can support you and your customers at this time.

Arranging electronic signatures for new business

While our teams are working remotely, we recommend all new business is submitted via our online application platform e-App - let me know if you’d like some training or a refresher.

To make processing your new business applications easier during this time, you can use electronic signatures for declaration and consent (D&C) and direct debit (DD) forms.

So if you submit an application via e-App where these forms are missing, here’s how the service works:

  • Step 1 – we'll contact you for instructions
  • Step 2 – you email us the details
  • Step 3 – we email each signatory and obtain their digital signature
More details on electronic signatures

Alternative options for alteration requests

During this time, there are some alternative options for how we can receive alteration requests:

  • Signed alteration requests can be scanned or photographed and emailed through to admin.services@fidelitylife.co.nz.
  • By email from the individual policy owner’s email address. Please note - the email must contain the full name of the policy owner.
  • By post to: Customer Care, Fidelity Life, PO Box 37-275, Parnell, Auckland 1151.

Helping customers facing hardship

Customers will be impacted by Covid-19 in different ways. We encourage you to continue to reach out to your customers to understand whether they're concerned about paying premiums. We have some options available to help them keep their policies in place:

  • Premium deferral – this is a simple, accessible solution to help customers facing financial hardship keep their policies in place while they get back on their feet. For more information and how it works, go to our Covid-19 page.
  • Built-in hardship provisions – some of our covers have built-in provisions to support customers dealing with hardship, such as options for premium holidays or leave without pay. For more details, please read our overview of hardship provisions. It’s also important you read the policy wordings as cover stops for the period premiums aren’t paid.
  • Retention tools – on a case by case basis our Retention team can help customers with making up missed payments, reinstating cover or a premium freeze or temporary hold. For more information, our retention team can be reached on 0800 203 750 or assistance@fidelitylife.co.nz
  • Our Covid-19 webpage for customers can also help answer their questions.
Covid-19 webpage for customers

Government support package updates

Keep checking in to our Covid-19 page on Adviser Hub for any developments, such as the recent announcement from the government on support package changes.

You can find more info on these here

Reminder – premium changes from 1 August

We recently let you know about premium increases for some income protection cover, Key Person Cover and for new level trauma (including Trauma Multi) covers – these came in on 1 August 2020.

We acknowledge some customers will be experiencing financial hardship at this time, so please make sure you’re aware of the options available so we can work together to find solutions – and help these customers keep their policies in place.

That’s On Point for August. Keep well and if you have any questions please don’t hesitate to drop us a line.