June 2020.
On point

June 2020.

Welcome to On Point for June. We’re very happy to be at Level 1 and are now all back working in the office and welcoming visitors. No doubt you’ll be pleased to be out and about too, and able to meet customers face to face again.

In this issue we focus on the top line findings from our adviser Covid-19 survey, as well as recap on a few things you need to know about. Enjoy!

Adviser Covid-19 survey results – you’re a resilient bunch

The financial impact of Covid-19 on adviser businesses is expected to be significant. However, in spite of this most advisers are confident in their ability to get through these uncertain times - read more below.

For more detail, you can read the full results here, including the main types of support advisers said they’re seeking, and what we can currently do to help.

Read the full survey results

Key takeouts

A big thanks to those of you who completed our survey. We’re committed to ensuring New Zealand’s independent advice sector has a sustainable future because you play a vital part in Fidelity Life's brand promise of protecting New Zealanders’ way of life.

If you have any questions about the survey or how we can support you and your business please get in touch with your BM, BAM or a member of our Professional Development team – we're here to help.

Year end commission close off - this Friday

  • As our financial year end falls on Tuesday 30 June 2020, there won’t be a commission run on this date
  • We’ll be making a one-off commission run on Monday 29 June – this will include all business issued up to 5pm on Friday 26 June

All commission for any New Business processed after 26 June will be released on Thursday 2 July

In brief:

  • Product accreditation and eLearning coming soon
  • Premium changes from 1 August 2020
  • New Sharecare challenges starting 1 July
  • Updated agency agreement – effective 6 July
  • Golden Life Plan withdrawn from 1 July

Product accreditation and eLearning coming soon

We’re excited to let you know we’re rolling out our new Learning Management System in the coming weeks. This is where you’ll find our informative eLearn modules and complete your product accreditation. Keep an eye out for more information coming soon!

Premium changes from 1 August 2020

These are part of our commitment to sustainability and to ensure we keep delivering on our promises to customers at claim time over the long term. Changes include increasing the 'to age 65' (and 70) underlying rates for some personal IP covers, increasing new business level Trauma and IP 'to age 65' (and 70), as well as changing or removing some sales discounts – specifically Key Person Cover. For more details, click here.

New Sharecare challenges starting 1 July

Keep an eye out for our new challenges starting on 1 July, with more ways to help you on your health and wellbeing journey. Be in to win some great prizes, including Icebreaker gift cards and winter wellness packs from Frankie Apothecary. And remember – go to our Sharecare page for some handy resources when talking to customers about Sharecare, including a flyer, email template and videos for you to share.

Updated agency agreement – effective 6 July

We’ve made some interim changes to tide us over until the new financial advice regime comes into force in 2021. We recently emailed all advisers with a link to the updated agreement and a guide to the changes – find out more here.

Golden Life Plan withdrawn from 1 July

A reminder that Golden Life Plan will no longer be available for sale for new business from 1 July 2020. Our Funeral Fund product will remain on sale. Customers with existing Golden Life Plan policies are unaffected - they‘ll remain covered as per the terms of their policies.

That’s On Point for June!