About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Saturday, January 18th, 9:24PM
rss
Latest Headlines

Tower enhances Key Person cover

Tower Health & Life has released some enhancements to its Key Person Cover. This cover is designed to pay a monthly benefit if a business owner or key person is unable to work due to an illness or injury.

Friday, September 5th 2008, 8:23AM
The enhancements include:
  • Financial evidence of earnings not required for sums insured under $5,000 per month
  • All benefits are paid in advance instead of arrears
  • The ownership of the cover can be either the life insured or the business.
  • Adding the above enhancements to the existing features makes this an attractive product.



    The existing features include:

    • Agreed value contract
    • Built in Partial Disability Benefit
    • No ACC offset
    • Guaranteed renewable/non-cancellable
    • One year benefit period
    • Choice of four, eight or 13-week wait periods.

    Kevin Smee of Solutions says; "Tower has packaged some of the best features of the key person products available into an attractive, simple product for the business market".

    In the year ending June 2008, 96 New Zealand business people stated that ill health was one of the reasons they declared bankruptcy. Tower's Key Person Cover is designed to help avoid this situation by being a core component of a risk protection plan for small to medium enterprises.

    "In a weak economic climate, Key Person Cover can become even more important as it protects the financial contribution that key people make to a business and reduces the financial strain of their absence," Tower Health & Life chief executive Steve Boomert says.

    « The National Partnership buys back-officeGroup market owes it to KiwiSaver »

    Special Offers

    Commenting is closed

     

    print

    Printable version  

    print

    Email to a friend
Insurance Briefs

Southern Cross launches advisory group
Southern Cross Health Society has announced the establishment of a Māori governance advisory group in a first for New Zealand’s health insurance sector.

HealthLink and Konnect NET to merge
Healthcare technology companies HealthLink and Konnect NET are merging.

Fidelity scores top award for third consecutive year
Fidelity Life has been named 2019 Life Insurance Company of the Year by ANZIIF for the third consecutive year.

Suncorp invests in wellbeing
Suncorp New Zealand has now invested a total of $20 million into wellbeing bonds as part of its focus on identifying sustainable investment opportunities that can deliver positive community outcomes.

News Bites
Latest Comments
  • Partners Life criticises Vitality
    “bay broker good points but I get the point about premiums increasing when sick. I have Vitality personally and I have qualified...”
    2 days ago by taka dan
  • Don't hold your breath for life insurance reform
    “That's a good observation from @JPHale there. "2% of sales" has even less meaning when you don't know if it's 2% of premiums...”
    2 days ago by Denis
  • Partners Life criticises Vitality
    “I've added Vitaltiy to a number of clients' new covers. I have also sold AIA cover without it. As with all advice it is...”
    2 days ago by BayBroker
  • Don't hold your breath for life insurance reform
    “Having read both the article and the comments I can only agree with what has been said in the comments. Further, I am...”
    2 days ago by BayBroker
  • David Whyte's 5 predictions for 2020
    “@ number 2: LOL - don't hold your breath. And besides, even if they did do it, if someone needs it they should probably already...”
    3 days ago by All hat no cattle
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News

MORE NEWS»

Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com