$140 million Paid Out
Fidelity Life paid out almost $140 million in claims during the 12 months to June 2020. Of the 1,500 claims accepted by the firm, 204 were for life insurance and 36 were for mental health, 13 fewer than in 2019.
Tip sheet
Advisers wanting to brush up on their legal obligations can download Fidelity Life’s one-page Compliance Obligations PDF tip sheet. In three brief sections of general guidance the PDF covers standard conditions of licencing, the code of professional conduct, and disclosure.
Managing complaints
Asteron Life has published a guide for financial advisers on how best to manage customer complaints. The guide suggests advisers listen to clients, try to resolve issues, and to forward all complaints to the company within two business days – including those that are resolved by the adviser.
Pharmac
Helping advisers explain the role of Pharmac to potential health insurance clients is a feature published by Partners Life. While plenty of treatments are funded by the government agency, many are not. General Manager of Product at Partners Life, Steve Wright, says: “Health Insurance is probably the most important type of insurance for protecting against unfunded drug treatments.”
AIA Wellness
AIA’s first online Regional Ambassador Programme has been launched with Dame Valerie Adams leading the way locally to help Kiwis enjoy “…healthier, longer, better lives”. The programme, says an AIA spokesperson, will help customers, advisers and communities follow healthy lifestyles.