tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Tuesday, June 25th, 6:40PM

Insurance

rss
Latest Headlines

Pinnancle pushes into adviser market

Direct-selling insurance firm Pinnacle Life has added a serious illness cover policy to its product range, which it says will help its push into the adviser market.

Wednesday, December 10th 2008, 5:30AM
Pinnacle currently has life, mortgage and funeral products.

Director Ed Saul won't reveal how much cover the company has written or how many lives it covers, however he says things have gone well for the company.

"Last year was a good year," he says. "This year has been even better.

"We don't see ourselves as a major threat to major life companies.....yet."

He says because the company has done well it has been able to add the serious illness cover and soon it will be enhanced with a rider.

The product is a reasonably basic one covering just the four main diseases; heart attack, cancer, stroke and heart bypass surgery. People can get cover up to $250,000 and it can be bought online, without a medical.

Pinnacle underwrite the policy and Hanover Re are the reinsurers.

Saul says the product is essentially suited to the under-45 market, but it is available to anyone aged 20 to 59.

Saul says the closest similar product in the market is Sovereign's Essential cover.

While Pinnacle sells its policies directly it also uses third-party distribution where it pays firms a referral fee for business and in some cases includes extra benefits such as $10,000 accidental life cover.

Some of the more interesting partners are Tonys Tyre Service in Palmerston North which sell insurance with its tyres. Many clubs and organisations are part of the referral process and Pinnacle lists around two dozen advisory and brokerage firms as partners.

Saul expects to add more advisers and mortgage brokers to its partner list. He says advisers had asked for serious illness cover. Now Pinnacle provides it Saul expects to push further into the adviser market.

Today’s ‘instant serious illness cover’ follows the launch of instant Life Cover, instant Mortgage Cover and instant Funeral Cover by Pinnacle Life over the past 18 months.

« AIG releases product enhancementsTower tweaks trauma conditions and benefits »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Insurance Briefs

PIC Insurance Brokers partners with RE/MAX New Zealand
PIC Insurance Brokers has entered into a new strategic partnership with real estate company RE/MAX New Zealand as the exclusive insurance broker.

New customers get 3-months' premium-free on Fidelity Life
Fidelity Life has announced a special offer to cover new customers’ premiums for the first 3-months of their policies.

Premium relief for customers in drought areas
Fidelity Life offers premium relief to drought-affected customers

Fidelity Life relaunches customer engagement initiative
Once again Fidelity Life wants to recognise advisers who go above and beyond to deliver amazing customer service.

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

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