AA Life Insurance’s new product offering, developed with partner Asteron Life, includes Income Protection, Serious Illness and Serious Injury options.
The company says the new product offering, which went live last week, adds to the AA’s existing life, funeral, accidental death, and cancer care insurance products.
In a statement on its website the company says a new sales platform offers an enhanced customer experience, making AA Life Insurance products more accessible.
AA’s Head of Financial Services, Ben Rose, says AA is excited to be leading the way in the direct-to-consumer category and making life easy for its customers.
“Our modern suite of AA Life Insurance products helps protect our AA Members and AA customers’ future. We’ve worked hard to make our offering easy to understand and with help text along the way so customers are clear on the cover they are buying. We’ve taken feedback on board from our AA team who speak to AA customers every day, to create an experience that means fewer barriers like medical checks, confusing terms and long application processes.”
The company says that less than half of New Zealanders (41%) have life insurance, according to a recent FSC report, while 45% are either not particularly prepared or not prepared at all for loss of income by the main income earner.
“We want more Kiwis to protect what’s most important to them and we’re proud to be backed by a partner that not only makes the sign-up process clear and transparent, but has a strong track record,” says Rose.
…In the last year, 99.4% of all claims received for AA Life Insurance life, cancer care and accidental death policies have been paid…
“In the last year, 99.4% of all claims received for AA Life Insurance life, cancer care and accidental death policies have been paid, ensuring we’re there for our members and customers.”
All AA Life Insurance policy holders receive complimentary AA Life Insurance Connected Care, a 100% confidential, online health and wellbeing service.
The company adds that the announcement builds on the AA’s strategy to grow the impact and contribution of its financial services products “…collaborating with trusted partners who are expert brands in their own right.”