Gender specific insurance introduced

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Sovereign has reviewed its current life insurance product range and made enhancements that recognise and cater to the specific needs of key groups of New Zealanders.

Thursday, December 22nd 2005, 6:21AM

These changes follow research that Sovereign recently conducted with around 300 advisers, that allowed it to build a body of knowledge to quantify the attributes that advisers want and value.

Key changes include men’s and momen’s specific conditions options on Sovereign’s TotalCare Living Assurance Benefit. These benefits recognise and allow extra cover for health risks that are unique to women - such as pregnancy complications and certain cancers, and men – such as prostate cancer and strangulated hernias.

With the changing trend in retirement age, Sovereign now also offers a 'To Age 70' benefit payment option on its disability income protection for those who plan to work beyond the traditional retirement age of 65.

A level premium to age 65 option will be available on TotalCare’s Life Cover, Family Protection, Total Permanent Disablement, Living Assurance, and Disability Income Protection benefits.

This creates premium certainty for those that have long-term needs, the company says.

As a result of the research, Sovereign has been able to enhance TotalCare to better suit and meet the needs of advisers and their customers.

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