Fidelity Life has recently enhanced its successful Just For Kids savings plan to include a range of flexible risk options that can be added to the investment plan.
This innovation is based on the belief that assisting individuals in their investment needs is best complemented by a comprehensive approach, offering cover to protect accumulated savings as well as the ability to maintain the commitment to regular savings.
The Just For Kids savings plan was launched in 1999 in response to a need for a designated funding vehicle for future events in a child’s life. As the public has become more aware of the need to pre-fund the costs of tertiary study and other important life goals, Just For Kids has been a rapidly developing product line.
Alex Woolley, marketing manager, attributes this uptake to the range of benefits offered under one affordable plan and the fact that Just For Kids and its Cover For Kids risk options present the only comprehensive children’s plan currently on the market.
One of the keys to the plan’s success has been the simple structure of the product that offers a range of investment options with three managed funds and five investment sector funds at an affordable minimum premium of $20.00 per month.
Cover For Kids provides risk options that enhance the plan by addressing the eventuality of savings being eroded or regular payments being interrupted due to the financial consequences of a serious illness for a child, parent or premium payer.
Children’s options include life cover from age 10, Critical Care cover, a Future Insurability Option and favourable Future Mortgage Finance conditions.
A Protective Life Benefit is available free of charge to premium payers under 60 with a satisfactory health statement. If the premium payer dies before age 65 and the child is still under 21 years of age, Fidelity Life will pay the premiums until the child attains age 21. Additionally, premium payers between the age of 18 and 59 years of age may apply for Waiver of Premium, where for an extra cost the total premiums on the plan are waived during a period of disability until the child reaches age 21.
The policy may also include Child’s Income Plan cover that pays a monthly benefit until the child reaches age 21 on the death of a nominated parent or legal guardian.
Fidelity Life is currently running a voucher promotion where the first month’s premium to a maximum of $100.00 is paid on all new investment policies and on increases to existing investment policies.
To find out more about Just For Kids or any of Fidelity Life’s superannuation and investment plans please either call 0800 88 22 88 or visit www.fidelitylife.co.nz.
This promotion is only available until 31st October 2001.
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