Welcome to home base for

LIFE UPGRADED

Here you’ll find all you need to know about our product upgrades – but if there’s anything else you need, just ask your BDM.

We’ve listened to your feedback and taken action. The result is 40+ upgrades across our product range, delivering improved clarity, consistency and outcomes for you and your customers.

Remember, the upgrades are live from 28 May 2018.1

Click here to download the LIFE UPGRADED product summary for advisers. 

Clarity

We’ve upgraded our policy wordings, including cancer and heart attack definitions, to make them clearer to read and easier to understand.

Consistency

We’ve upgraded our definitions and benefits so, wherever possible, they’re now consistent across different covers, making it easier for you to remember and explain to your customers.

Outcomes

We’ve upgraded our approach to your customers’ significant life events in order to provide them with better outcomes.

LIFE UPGRADED - we've upgraded:

View our 6 key upgrades
  • Our heart attack definition
  • Our cancer definition
  • Our pre-disability income treatment wording
  • Our Trauma Multi wording
  • Our Special Events Benefit
  • New Terminal Illness Partial Benefit

Our heart attack definition

We’ve upgraded our wording to align with the language customers will hear from their cardiologist. This means it’s easier for you and your customers to know if they’re covered.

We’ve also replicated the upgraded heart attack definition across covers to remove any confusion and improve consistency.

Click here to download the full list of 40+ product upgrades

Our cancer definition

We’ve upgraded our wording so that it’s clear which cancers are covered. This includes extending the definition to include melanomas from 1mm in size, and the addition of a new full payment definition for carcinoma in situ.

We’ve also made it easier to understand when and how customers will be paid in the event of a claim. This includes splitting partial cancer payments into separate definitions and aligning the payments.

Click here to download the full list of 40+ product upgrades

Our pre-disability income treatment wording

Our pre-disability income treatment for Indemnity Income Protection is unique in the market – and we’ve upgraded the wording so it’s easier for you and your customers to understand.

Click here to download the full list of 40+ product upgrades

Our Trauma Multi wording

We’ve clarified our Trauma Multi wording to make it clear that we’ll allow multiple claims for the same trauma condition where it is unrelated to their original claim.

Click here to download the full list of 40+ product upgrades

Our Special Events Benefit

We’ve upgraded our Special Events Benefit by applying the same events to all lump sum covers, making it easier for your customers to access.

We’ve also removed the one month notification requirement and extended the exercising period to include the policy anniversary. This reduces admin and means you can consider Special Events as part of your annual customer reviews.

Click here to download the full list of 40+ product upgrades

New Terminal Illness Partial Benefit

Recognising that some conditions are considered terminal, yet still have a life expectancy of greater than 12 months, we have added a new Terminal Illness Partial Benefit. This allows for a partial payment to help affected customers enjoy a better quality of life than they might have otherwise expected.

Click here to download the full list of 40+ product upgrades

New adviser tools and resources

Here you will find all the information you need to talk to your customers about the upgrades. We also recommend replacing any existing factsheets and policy wordings with the upgraded versions below:

New customer factsheets – to view and download, click here

New upgraded policy wordings – to view and download, click here

Visit our Customer website to read our Life Upgraded media release, 28 May 2018, here

LIFE UPGRADED Product Summary for Advisers

LIFE UPGRADED Product Summary for Advisers

Click here to download the LIFE UPGRADED product summary for advisers.

LIFE UPGRADED Summary list

LIFE UPGRADED Summary list

Click here to download the full list of 40+ product upgrades.

Claims infographic

Claims infographic

Why choose Fidelity Life? Download a summary of claims paid in the 2017 financial year.

Underwriting Guide

Underwriting Guide

Fidelity Life Underwriting Guide as at 28 May 2018

Top up Mortgage/Indemnity/Agreed Value Spreadsheet

Top up Mortgage/Indemnity/Agreed Value Spreadsheet

This spreadsheet has now been updated in Apollo Desktop / Web.

Media coverage

LOTR Banner Umbraco.jpg

Missed our roadshow?

If you were unable to attend our Life on the Road roadshow, don’t worry! Our highlights video will be here shortly.

FAQs

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  • What benefits will the upgrades deliver to my customers?
  • When do the upgrades come into effect?
  • Do the upgrades apply across the board - are there passbacks?
  • When will the ratings houses reflect the enhancements?
  • Will there be price increases as a result of the upgrades?

What benefits will the upgrades deliver to my customers?

Clarity

We’ve upgraded our policy wordings, including cancer and heart attack definitions, to make them clearer to read and easier to understand.

Consistency

We’ve upgraded our definitions and benefits so, wherever possible, they’re now consistent across different covers, making it easier for you to remember and explain to your customers.

Outcomes

We’ve upgraded our approach to your customers’ significant life events in order to provide them with better outcomes.

When do the upgrades come into effect?

The upgrades go live from 28 May 2018.

Do the upgrades apply across the board - are there passbacks?

Upgrades apply to new Platinum Plus, Platinum Plus Level Term and Mortgage Protector policies issued from 28 May 2018, and to existing Platinum Plus, Platinum Plus Level Term, Mortgage Protector, Lumley and Protection Plan policies sold on or after 1 April 2001, provided the customer was not suffering from a pre-existing condition from 28 May 2018.  

When will the ratings houses reflect the enhancements?

We have provided policy documents to all ratings houses.  The rating houses want to be up to date, therefore it is in their best interest to get the upgrades loaded as soon as possible after we go live on 28 May. 

We have provisional ratings based on our discussions with them which give us comfort on where the ratings are likely to go.  Our expectation is that on aggregate we will be placed second. The biggest callout will be for our Trauma product where we expect to see a marked improvement in our rating.

Will there be price increases as a result of the upgrades?

Changes in price are due to a number of factors including but not limited to: more customers than expected making claims; forecast cost of claims; and increases in operational costs.  These costs all flow through to the underlying premiums. Our analysis has shown that 80% of new business quotes will see an increase of less than $5.00. Any price changes will come into effect from 1 July 2018.

Contact your BDM today to find out more

Gary Binnie

Gary Binnie

BDM - Christchurch

gary.binnie@fidelitylife.nz
Darren Connolly

Darron Connelly

Business Insurance Specialist

darron.connelly@fidelitylife.nz
Danielle Diedericks

Danielle Diedericks

BDM - Auckland

danielle.diedericks@fidelitylife.nz
Nick Hau

Nick Hau

BDM - Christchurch

nick.hau@fidelitylife.nz
Willie Masters

Willie Masters

BDM - Wellington

willie.masters@fidelitylife.nz
Phil O'Keefe

Phil O'Keefe

BDM - Auckland

phil.o'keefe@fidelitylife.nz
Carol Saxton

Carol Saxton

BDM - Wellington

carol.saxton@fidelitylife.nz
Dave Telfer

David Telfer

BDM - Queenstown

david.telfer@fidelitylife.nz
Cary Veenhof

Cary Veenhof

BDM - Auckland

cary.veenhof@fidelitylife.nz
Peter Warfield

Peter Warfield

BDM - Auckland

peter.warfield@fidelitylife.nz

* Fidelity Life has an A- (Excellent) financial strength rating from A.M. Best. The rating scale that this rating forms part of is available for inspection at our offices. For more information please visit fidelitylife.co.nz/about-fidelity-life/our-financial-strength

1 Upgrades apply to Platinum Plus, Platinum Plus Level Term and Mortgage Protector issued from 28 May 2018, and to existing Platinum Plus, Platinum Plus Level Term, Mortgage Protector, Lumley and Protection plan policies sold on or after 1 April 2001, provided the customer was not suffering from a pre-existing condition from 28 May 2018

Disclaimer – the information contained on this website is a convenient summary of the key points and is general in nature. Definitions, benefits, standard exclusions / limitations, terms and conditions are contained in the full policy documentation. Please refer to current policy wordings for specific details.