Fidelity Life updates

2 Nov

Written By Kelly O

Fidelity Life have been busy.

They have launched a live chat function for advisers to be able to interact with new business and underwriting teams.
Fidelity Life will launch product enhancements in November including
- increasing maximum monthly benefit percentages from 110% to 115% of mortgage repayments;
- new trigger to increase cover as a result of buying an investment property, holiday home, residential block of land, or co-signing a child’s mortgage;
- new trigger for when financially supporting a child through first course of full-time tertiary education;
- special events - removing the exclusion for customers with loading >100%
- future events & insurability - removing the exclusion for customers with non-standard terms;
- increasing the maximum monthly benefit for Key person new to business from $4,000 to $6,500 and for Key person for farmers from $5,000 to $9,000;
- rolling out new repatriation benefit to all inforce and new on-sale life covers (except Survivor’s income cover), which reimburses up to the lesser of either 10% of the life cover sum insured or $20,000, helping to cover the cost of repatriating a body home;
- changing our Trauma Stand-down start date to when the customer submits their completed application instead of when they finish underwriting.
In coming months Fidelity Life will publish turnaround times for new business and call centre interactions.
Fidelity Life are offering special relief to weather impacted customers in Queenstown, Gore and Southland who are facing financial hardship. They have offered a waiver of premiums for up to 3 months while keeping cover in place.
Fidelity Life will roll out annual product re-accreditation training models in November, mandatory for all advisers working with Fidelity Life customers
Fidelity Life have published a ‘Working together guide’