Adviser use only

2019 pricing updates

Good news! We expect to be more competitive than before.

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.

The good news is overall we expect to be more competitive than before, giving you more reasons to recommend Fidelity Life to customers1.

4 key highlights

  • 1. Updated lump sum insured discounts
  • 2. Trauma Cover and Trauma Multi Cover
  • 3. Monthly Mortgage Repayment Cover which includes the Claims Escalation Option
  • 4. Level cover

1. Updated lump sum insured discounts

Lump sum insured2


$2.5 million +


$1 million - $2,499,999


$750,000 to $999,999


$500,000 to $749,999


$250,000 to $499,999

Standard rates

For lump sums insured2 under $250,000 we’re increasing the loading by +2.5%

Accelerated benefits – these benefit from the large sum insured discount from the Life cover e.g. Life cover at $1m: discount off standard rates = 17.5%. Accelerated Trauma = 17.5% discount off standard rates

2. Trauma Cover and Trauma Multi Cover

  • underlying rates will be reduced by up to 7.5% for ages 28-54
  • underlying rates will be increased by 2.5% for ages 56 or older
  • no changes for ages under 28, or age 55

3. Monthly Mortgage Repayment Cover which includes the Claims Escalation Option

  • underlying rates for this combination will be reduced by an average of 7%3

4. Level cover

For new business these updates flow through to our level premiums – where level is truly level4

Our level rates give customers a competitive price from the outset. With no indexation adjustments on premiums, Fidelity Life Level Term really is level.

Key dates

8 August 2019 - Apollo new business illustrations will reflect the new pricing from this date. Desktop Apollo users need to download the latest version on this date. We’ll do our best to ensure the likes of Quotemonster, IRESS and Strategy reflect the new pricing as soon as possible from this date.

1 October 2019 – renewal schedules for existing customers with YRT policies renewing from 1 October 2019 will reflect the pricing updates (in addition to the usual age and inflation-related increases).

New business already in the pipeline

In some situations Apollo illustrations done before 8 August will show customers are better off under current pricing. Our new business team will work with you to ensure customers get the best deal.

For example, customers may be better off under current pricing where:

  • they’re eligible for the two months free campaign
  • the new pricing updates mean an increase in underlying insurance rates for their chosen cover/s

Apollo illustrations are valid for 30 days from the date on the illustration. Illustrations dated on or after 8 August will reflect the pricing updates and won’t be eligible for the two months free campaign – this ends on 6 August.

Alternatively, contact your Business Manager or Business Account Manager today!

Peter Warfield

Peter Warfield

Business Manager

Mike Whitehead

Business Manager
Jenn Quinn.jpg

Jenn Quinn

Business Manager
Gary Binnie

Gary Binnie

Business Manager
Dave Telfer

David Telfer

Business Manager
Phil O'Keefe

Phil O'Keefe

Key Development Manager - Health Insurance

Anna Frecklington.JPG

Anna Frecklington

Business Account Manager

021 196 5232


Ciara Thompson

Business Account Manager

021 196 1152

Kenny Kaushish.png

Kenny Kaushish

Business Account Manager

021 917 454

Important notes

1 Based on modelling by Fidelity Life. Rating houses are expected to factor in these updates from 8 August 2019.

2 Large sums insured loading and discounts don’t apply to Trauma Multi

3 Reduction depends on the age of the insured person, the benefit period and the wait period.

4 Subject to tax and regulatory changes that are out of our control.

Updates apply to a number of covers in the Platinum Plus, Platinum Plus Level, Mortgage Protector, Platinum, Fidelity Life and Lumley ranges. Updates are in addition to any other changes applying to a policy resulting from an increase in age, an increase following a CPI adjustment to the sum insured, any other adjustments (e.g. an option or cover ending) and any other change instigated by the customer which changes the premiums. There are no changes to policy wordings.