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: Wednesday, August 5th, 1:12AM

Insurance

rss
Latest Headlines

Cigna offers new commission options

Cigna is rolling out new commission structures for level-premium products.

Wednesday, April 15th 2020, 12:53PM

Gail Costa, CEO Cigna Life NZ

It comes as Cigna releases a new round of enhancements to its Cigna Assurance Extra, Business Assurance, Business Extra and Agribusiness Extra products on May 11.

These enhancements will include new level term options to give customers more certainty when it comes to the amount of premiums that they will be paying, and some competitive new rates.

Advisers offering these level products will be able to opt for upfront commission of 190% with renewal of 7.5%; upfront of 140% with renewal of 15%; upfront of 110% with renewal of 20%; or upfront of 50% with renewal of 30%.

“Our new remuneration options have been designed to provide long-term security, sustainability and protection for our customers while ensuring you receive appropriate remuneration both upfront as well as [for] servicing,” Cigna said in a note to advisers.

They could also continue to offer to reduce upfront commissions to discount a customer’s premium.

The new commission options apply to new business and new cover applied to existing policies from May 11 across all persistency bands.

There are no changes at this stage to commissions paid on any other products.

Cigna will also have a new online quote tool to replace its existing platform and will run online training sessions in the fortnight before launch.

Tags: Cigna Commission insurance Insurance Advisers

« What life insurers are offering your customers under Covid 19Your guide to medical insurers' Covid 19 customer support options »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Insurance Briefs

Insurer nib backs Ronald McDonald House with $20k investment
Health insurer nib New Zealand and its nib foundation have lent support to Ronald McDonald House Charities.

Less stressed during lockdown
New Zealander’s health and wellbeing had surprising benefits from the Covid-19 lockdown.

Southern Cross supports new safe haven for at-risk pets
Southern Cross Pet Insurance has teamed up with Pet Refuge to provide temporary shelter for animals affected by family violence.

nib Foundation supports Lifeline to the tune of $150,000
To support the growing mental health needs of Kiwis emerging from the Covid-19 pandemic, Lifeline Aotearoa has increased its service capacity thanks to a $150,000 grant from nib foundation, the charitable arm of nib New Zealand (nib).

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
 
Site by Web Developer and eyelovedesign.com
x