Fidelity Life has updated its life insurance offerings with the launch of several new product enhancements developed in response to adviser feedback.
The changes are among the 19 announcements revealed at the insurer’s recent Engage 24 Conference, and include:
- Trauma and life covers: The entry eligibility for the firm’s inbuilt child’s trauma benefit has been reduced from two years to three months. A new, separate benefit specifically for newborns facing trauma has also been introduced
- Condition definitions: Refinements have been made for clarity, and terminal illness has been introduced as a defined condition across the trauma range, including Child’s Trauma
- Bereavement and child’s funeral benefits: The bereavement benefit has been increased from $15,000 to $25,000, and the child’s funeral benefit has been increased from $3,500 to $15,000 for children aged 10 to 20
- Grief counselling benefit: A new benefit offering an additional $2,500 to the sum insured
- Financial planning benefit: Easier access by removing thresholds and extending the claim period
- New specific injury cover: A low-cost solution that pays a lump sum for any of 30 defined injuries
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Bronwyn Kirwan, Fidelity Life’s Chief Commercial Officer, said: “We are thrilled to introduce these new product enhancements and initiatives.
“They are a testament to our ongoing commitment to providing our advisers and customers with the best possible support and value.”
Fidelity Life has also unveiled a suite of new digital, service, and advisers retention initiatives that include easy access to new business and underwriting teams via Adviser Centre live chat.
In addition, the firm has a team servicing adviser needs, renewal reminders and automated SMS reminders for customers, as well as a professional development programme for financial advisers.
