It is offering discounts for lump sums of $500,000 and above on life, TPD and trauma policies. This can be up to 20% for amounts of $2.5 million or more.
Underlying rates for trauma cover and trauma multi cover will be reduced by up to 7.5% for people aged 28 to 54.
Monthly mortgage repayment cover, with the claims escalation option, will have rates reduced by an average of 7%.
These rates flow through to new level business.
Fidelity Life Chief Distribution Officer Adrian Riminton said the new pricing was a result of adviser feedback.
“We’re always looking to lift our game and advisers told us we needed to look at our pricing," he said.
“So building on the success of last year’s 'Life Upgraded' campaign and our 40-plus product upgrades, we’re about to update our pricing. The good news is we expect to be more competitive than before.”
The new prices come into effect from August 8 for new customers, and from October 1 for existing customers.
“In making these changes we want to make it easier for advisers to help more Kiwis get protected with New Zealand’s largest locally owned and operated life insurer and two-time New Zealand Life Insurance Company of the Year," Riminton said.
“Fidelity Life’s goal is to set ourselves and advisers up for a sustainable and successful future, with the customer at the centre of everything we do."
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