If an eligible members dies as a result of an accident between September 1, 2014 and December 31 next year, AMP will make a lump sum payment to the person's estate that matches the amount in their KiwiSaver account, up to $100,000.
Chief customer officer Jeff Ruscoe said: "Since KiwiSaver started in 2007, more than two million New Zealanders have begun saving for their retirement and understanding the importance of looking after themselves in their ‘golden’ years. This is a fantastic start to thinking about their financial wellbeing... Today’s announcement delivers even more value to our members and will hopefully encourage people to think ever further or talk to an adviser about how they can protect themselves and their loved ones."
He said it was not designed to replace comprehensive life insurnace but could go some way towards helping a person's family in the event of an accident.
| « Kiwis miss out on $400m | FMA warns KiwiSaver providers to put customers first » |
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