Fidelity Life and Westpac NZ have launched a new LifeProtect Guide online tool which aims to help New Zealanders save time and better understand what’s important to them when applying for life and income protection insurance.
The modular nature of the LifeProtect product, underwritten by Fidelity Life, allows Westpac customers to choose any combination of Life Insurance; Trauma Cover; Income Protection and Permanent Disability insurance.
The companies say Westpac customers can access the LifeProtect Guide securely through the Westpac One app.
“After answering simple questions about their income, lifestyle, employment, and personal priorities, they’ll receive tailored recommendations on the types and levels of cover that best suit their circumstances. They can then adjust cover levels to see how changes affect their premiums.”
Bronwyn Kirwan, Fidelity Life’s Chief Commercial Officer, says the LifeProtect product and guide have been designed to make the process of thinking about and applying for life and income protection insurance as easy as possible.
“Recent Financial Services Council research indicates that four out of five New Zealanders haven’t insured their income against sickness or disability. The LifeProtect Guide is intended to make it easier for customers to work out what’s right for them…”
She says the guide also allows them to determine what level of cover they’re comfortable with then move straight into an online application process, with no need to repeat any of the information already provided.
Sarah Hearn, Westpac NZ GM Product, Sustainability and Marketing says New Zealanders can be uncomfortable talking about protecting their income and life.
She says the guide helps customers to easily navigate that process, noting the tool is intuitive and secure.