|        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Saturday, May 21st, 4:21PM


Latest Headlines

Support for simple products

Insurers say there has been strong demand for products that require no underwriting.

Monday, July 11th 2016, 6:00AM

by Susan Edmunds

Nib has been promoting its product, EasyHealth, with a premium discount of up to 20 per cent to new clients.

It offers up to $300,000 surgical cover per person per year and $200,000 of medical cover.

A nib spokeswoman said the response to the product had been much better than expected. “It’s easy for advisers to deal with. The conditions are assessed at the time of the claim and it cuts down on all the work.”

Meanwhile, Sovereign recently launched Simple Life via its adviser channel as well as direct to consumers online.

It relies on exclusions including any pre-existing conditions in the past five years.

Some advisers market it as suitable for people who do not have time to spend on an application process or who just want cover arranged quickly. The premiums are higher than for underwritten products.

A Sovereign spokeswoman said the product had been well-received. “To date, feedback from partners and customers has been positive as a product that allows the customer to self-serve and get cover quickly online. The loan and rent cover are also proving popular benefits – common areas of younger Kiwis lives that they often need to cover the risk of.”

She said Sovereign had an ongoing focus on reaching a younger audience and helping lift insurance levels. It was possible that those who took out Simple Life could end up moving on to advice-based products.

Tags: nib Sovereign

« Kiwi company attracts $200 million global investmentInsurers welcome FAA changes »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment



Printable version  


Email to a friend
Insurance Briefs

Partners first life company to cloud platform
Partners Life completes first stage of the company's claims transformation journey.

Celebrating Earth Day
Insurer takes early step on sustainability journey.

Fidelity Life launches new-look claims content
Fidelity rolls out education material to help explain insurance.

Health insurer response times balloon out
Accuro says its response times have become much longer as it implements a new system.

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