Knowing the process of setting up life insurance can be time-consuming and intrusive, Jones wanted to develop an online system that allowed everyone to set their own timeframe for arranging their insurance.
"Many consumers already manage all aspects of their personal finances online; iprotect.co.nz allows them to also manage their own personal protection as well. We've got Internet banking, so why not Internet insurance?"
He says people can visit the website and calculate their own personal risk. It enables you to create a life insurance package which can include trauma, disablement, income and medical cover to mitigate that risk and then find out how much it will cost – all at a time and place that suits them, confidentially and at no cost.
Visitors to the website can also print or email their findings to trusted advisers, such as accountants or lawyers. Cover can potentially be in place "within a couple of business days if cover levels and health status allow," says Jones.
iprotect.co.nz is working with the support of ING Life.
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