Media

Fidelity Life announces 40+ product upgrades

Life Upgraded roadshow attracts 870 advisers 

Media release

28 May 2018

New Zealand’s largest locally-owned life insurer Fidelity Life has announced more than 40 product upgrades1 that promise to deliver improved clarity, consistency and outcomes to customers and their advisers.

The company currently undertaking a roadshow to launch its ‘Life Upgraded’ campaign and is visiting 12 locations nationwide. 870 advisers have registered to attend the roadshow, which also features nib and its ‘World of New Benefits’ campaign.

Fidelity Life Chief Distribution Officer Adrian Riminton says advisers’ response to the roadshow has been fantastic.

“Advisers haven’t been backwards in coming forward to tell us our products needed to better meet the evolving needs of customers, and we’re grateful for the feedback. We’ve listened and we’ve acted, and what we’re launching is an impressive range of upgrades which we’re confident will put us back at the top of the market.

“It’s humbling to see the number of advisers who are coming to hear from Fidelity Life and nib, and we really appreciate their support.”

Policy wordings have been upgraded to make them clearer and easier to understand and, where possible, definitions and benefits have been made consistent across different covers, making it easier for advisers to explain them to customers.

“The key things advisers wanted us to address were our heart attack and cancer definitions, and both have been upgraded,” says Mr Riminton.

Other highlights include an upgrade to the pre-disability income treatment for Indemnity Income Protection; improved Trauma Multi wording relating to multiple claims for the same condition; and a new partial payment to help terminally ill customers have a better quality of life than they might have otherwise expected.

‘Life Upgraded’ follows Fidelity Life’s ‘3-2-1 Go!’ campaign in March which launched enhancements to the company’s Income Protection product.

The more than 40 new upgrades apply to Fidelity Life’s entire product range across Life, Trauma, Total and Permanent Disability and Income Protection covers, and come into effect from 28 May 2018.

Life Upgraded – the numbers

  • 14 May – 15 June 2018
  • 12 locations
  • 870 advisers
  • 40+ upgrades
  • 4 new full payment definitions
  • 6 new partial payment definitions
  • 15 upgraded full payment definitions
  • 3 upgraded partial payment definitions

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